Political instability putting damper on business

Political instability putting damper on business – PSC

Mar 10, 2020 News

With the current political situation in Guyana, the flow of business has been adversely affected, with the possibility of having long term consequences.
This is the view of Private Sector Commission Chairman, Capt. Gerry Gouveia.

Chairman of the Private Sector Commission, Capt. Gerry Gouveia

Gouveia told Kaieteur News that from a development perspective, the climate of uncertainty does not do well for investors’ confidence, both local and foreign.
Noting the shutdown of businesses in many parts of the capital city and in other parts of the country, he stressed that the standstill is worrying, and if the current state of political uncertainty continues, it can result in further decline in economic activity.
“It really is driving a lot of fear in people, in workers themselves, and there is a lot of apprehension in the business community.”
Since Guyanese went to the polls on March 2, to date there has been a trickle of businesses reopening, but still business is said to be slow.
“For businesses to grow, we need to have an environment where political stability, general public safety and security are paramount.”
Further, he made a call to business owners to move on and get back to normal programming.
“Businesses should start reopening. I believe that people should take precautions, but we need to get on with our lives.”
Gouveia mentioned the ongoing court battle on whether the verification of elections results is required by law, and stated that he hopes the main political leaders call on their supporters to respect the court of law.

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