Demerara Waves Online News- Guyana Riding on the Crest of Truth
Last Updated on Saturday, 27 January 2024, 10:06 by Denis Chabrol
PNCR Leader Aubrey Norton
Opposition Leader Aubrey Norton on Friday pitched support for Guyana’s manufacturing sector by citing the need for policies to ramp up output and increase access to foreign exchange.
“The government is advised to establish a broad-based Task Force on new industries and services to ascertain which industries and services should be developed having discussed and formulated policies and programmes based on proper scientific analysis,” he said.
A review of Guyana’s economic performance in 2023 shows real Gross Domestic Product (GDP) is estimated to have grown by 33 percent overall in 2023, with stronger-than-expected expansion of 11.7 percent in non-oil real GDP. Government forecasts that the non-oil economy is projected to grow by 11.9 percent in 2024, with the manufacturing sector is projected to continue its growth trajectory this year, to expand by 16 percent, with increases across all three subsectors- sugar by 66.1 percent, rice by 22.7 percent and other manufacturing by 10.4 percent, mainly driven by further increases in the manufacturing of fabricated metal products and non-metallic products with continued construction and oil and gas activities.
The Opposition Leader said the non-oil sector must be expanded to develop a resilient and diversified economy that could protect and serve the interest of future generations. He cautioned that the concentration of income among a small number of industries clearly has implications for how the resources of this country are being distributed among its industries and people.
He chided the local private sector for blindly following government’s policies that are leading to foreign exchange mismanagement and shortage to the detriment of the business community. “By blindly supporting the investment priorities of the government, private sector entities might be serving as the architect of their own inability to access foreign currency to conduct their business,” he said. Mr Norton said government’s insistence that cement, sand, and stone must dominate the consumption pattern of the country ought to cause consternation among Guyanese.
“Our foreign exchange management must facilitate the development of the local private sector in the non-infrastructure sector,” he said.
He also told the National Assembly on the final day of the 2024 National Budget debate that his People’s National Congress Reform-led opposition coalition of A Partnership for National Unity+Alliance For Change (APNU+AFC) was not anti-private sector. At the same time, he rejected the award of government infrastructure contracts to a small clique of contractors who were raking in billions of dollars annually in contrast to thousands of government workers and pensioners.
He accused the People’s Progressive Party Civic (PPPC)-led administration of disposing State resources unfairly unlike competition in a true capitalist society. He said the opposition was not against the private sector receiving contracts but was against the manipulation of the system for the award of contracts to PPP-aligned contracts who are engaged in kickbacks. “We are not against the private sector. We are not against legitimate businesses receiving contracts. We are against the manipulation of the system to provide PPP crony contractors who are ill-equipped and incompetent with contracts that results in wanton waste and facilitating a slush fund for the PPP elite, friends, families and favourites,” he said.
Mr Norton’s assurance that APNU+AFC is not against the private sector came three years after he had called for the umbrella Private Sector Commission (PSC) to more more representative of the private sector rather than politically affiliated.
Public Works Minister Juan Edghill
Meanwhile, Public Works Minister Juan Edghill disagreed with government that the GY$1.1 trillion budget was in favour of contractors. He said 72,0000 pensioners would benefiting from more than $43 billion while some $2 billion was allocated for vehicle spares and maintenance.
“You know what that means? All the vulcanizing shops, tire shops, mechanic shops, the man who got to sell the car parts, and so on [will have these] opportunities for them in the budget,” he outlined. In the budget under ‘transport’, the minister said the man who rents taxis, buses, and hiring of boats, among others in this category will also benefit from a $2 billion allocation.
Also, approximately $12.1 billion was allocated for the security. The minister was adamant that this will see thousands of Guyanese benefitting especially women, as they are more engaged in this line of work. Calling on the opposition, the public works minister said “This opposition who likes to say they are championing the cause of women, you must explain to them why you’re not supporting a budget where employment for them in the recurring budget is almost $12.1 billion.”
Additionally, Minister Edghill underscored that in urban regions, the budget has allocated $2.9 billion for equipment maintenance while the refreshments and meals for government agencies and ministries collectively will amount to the tune of $541 million.
“When you do the math, you have almost $70 billion in opportunities. [The] Taxi driver, minibus driver, boatman, mechanic, printing, stationary supplier, plumper and I haven’t gone to the maintenance of roads and other infrastructure, drainage, and irrigation. This is just the ordinary.
So, I am here to tell the people of Guyana, don’t be fooled by people, who told you, that 34 is the majority of 65 and not 33. They are just doing it again in a different form,” the minister he was quoted as saying by government’s Department of Public Information.