Investments need to be more focused and better managed

Jan 14, 2023 Letters

Dear Editor,

In preparation for the upcoming budget, it is CRGs hope that the Government will keep in mind the lessons learned during the years leading up to 2023. The oil sector needs substantial correction to secure the economy’s major revenue source. Investments need to be more focused and better managed, and return on investment continues to be an opportunity for improvement.

Fires have destroyed our schools and government buildings yet fire prevention and fire protection has not been incorporated into the new structures. Ministers are being turned into building inspectors, which is not their area of expertise.

Additional resources in this area is an urgent need that will constrain the pace and quality of infrastructural development. Hundreds of roads are planned, while those being put in place are not at the level of quality needed to prevent a high reoccurring cost for maintenance and upkeep. Once again illustrating a need for more civil engineers and inspectors. Farmers continue to suffer losses and the handouts are increasing in frequency due to the persistent flooding.

The feasibility study on sea defense and drainage should be a key feature of the upcoming budget. We must avoid becoming a welfare state that is known for missed opportunities instead of thoughtful long -term investment. GuySuco has yet to turn the corner on profitability and continues to be a major employer in the nation. The level of urgency needed to drive improvement in the sector must increase if it is to continue to be a key employer after the oil has been sold.

The recent visit to TATA should be a wake-up call to all. Focusing on key growth areas is better than trying to do too much at once. Guyana being known for technology development, research & development, coding and information technology with a focus on sustainability is an admirable ambition, but we must first assess our internal resources and capabilities to better understand where we have and can have a competitive advantage. Only after this becomes clear can we truly determine where to invest and compete on the world stage. Focus is needed in the upcoming budget and CRG is looking forward to the presentation with the hope that these areas amongst others are addressed in a meaningful way.

Best regards,

Mr. Jamil Changlee

Chairman

The Cooperative Republicans of Guyana

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budget, Guyana Sugar Corporation (GuySuCo), Investments, Letters, Mr. Jamil Changlee

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