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The current administration is bad for business and bad for the poor
Dear Editor,
Uncontrolled government spending has led to widespread inflation and unrealistic expectations in earnings. Businesses are now competing with high-ranking government officials who have become entrepreneurs with unfair benefits, connections and market access. Instead of making business easier and more prosperous for the average Guyanese businessperson, they are taking steps to corner the market and increase their income.
It would not be a surprise if the current major humanitarian labour problem uncovered in Region 7 is linked to those previously accused of taking a 5% stake in every major contract. A matter that should be independently investigated by the authorities. After all, the silence and slow reaction of the leaders in the current administration has been deafening. The rush to get rich quickly has created unfair business practices, leaving most Guyanese businesses at a disadvantage when competing with businesses owned by government officials and their close friends and family. In many cases, the situation reeks of corruption and inside information that allows them to outbid others, and even in some cases, they still gain the contract although their bids are less competitive.
The complaints of this occurring have increased significantly within the “regular” private sector. The current “upper” PSC that we often see on display, comprises of those with close government ties, and they have been given the lion’s share of the opportunities available. The establishment of another PSC for small and medium size businesses is becoming increasingly necessary for improved bargaining power and improved access to business opportunities. It is also important to note that fiscal audits have not occurred where there are suspected money laundering activities. Having this be an entry and ongoing requirement for both PSCs will help strengthen the perception of clean business practices for foreign investors. Currently, this is not the case and on the internet, the commentary surrounding key business figures close to the government points to corruption, money laundering, and bribery.
Unfortunately, the few who have gained unfair access to major government contracts have also influenced government spending, creating excess where less would have been better. Resulting in the cost-of-living crisis currently faced by the majority of Guyanese. Instead of upliftment, Guyanese are facing hardships. Instead of prosperity, Guyanese are facing increased poverty, and instead of growing savings, Guyanese are facing more indebtedness.
The PPPC has mismanaged the economy and the Natural Resource Fund (NRF). The poor fiscal management of the country and rampant corruption which now go hand in hand have resulted in the greatest transfer of wealth from the country to the few with powerful connections. Furthermore, the resulting benefits to the general population have been muted due to poor quality work, unfair business practices, and the lack of access to lucrative opportunities. The PPPC has taken trickledown economics to a new low, where they leave with a bucket full, while everyone else leaves with a tin cup filled with a few drops. The PPPC has handed Guyana their party’s cup as a symbol for future beggars in a society where the gap between the haves and the have-nots has been significantly widened. Do not be surprised to see more well-built and large buildings next to squatters and derelict structures. This is the result of a communist regime that has shifted towards a winners take all mentality for party executives, enabled by economic policies that do not reel in spending, prevent widespread corruption, and that do not provide access to a livable wage for most Guyanese. For the betterment of all Guyanese, we must vote the PPPC out of office if this assault on the pockets and prosperity of the average Guyanese citizen continues.
Sincerely,
Mr. Jamil Changlee
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