COMMANDING more than $20B of inflows to the nation’s treasury, the Private Sector Commission (PSC) says it will, within a matter of

weeks, convene an ‘Economic Summit’ to bring together government, opposition and other relevant stakeholders, and this is aimed at bridging the gaps and fostering collaboration on the nation’s expenditure, particularly on the large infrastructural projects.
Chairman of the Private Sector Commission, Ronald Webster, along with executive members Ramesh Dookhoo, Ramesh Persaud and Kit Nascimento, yesterday met with media operatives during a press engagement at the Georgetown Club, and spoke to the need for greater inclusion on the part of stakeholders.
Chairman Webster said that the recent developments, particularly the cuts to the budget, has to be seen in the context of the prevailing international circumstances and spoke to the recent continued decline in world market prices for commodities such as gold, bauxite and sugar among others.
Webster told media operatives that while he did not want to paint a picture of “gloom and doom” for the economy, it is of utmost importance for stakeholders to work together, particularly as it relates to the limited access to financing on the world stage.
He said too, that despite the consistent years of positive growth in the economy, “our economic situation is fragile at this moment, and we need, as of critical importance, to work together to ensure that we get through this trouble and without driving away investment.”
The Private Sector Commission representative reminded of the declining world market prices for commodities that Guyana exports, and said that the politicians and stakeholders need to be careful not to drive away investments.

With the ‘Economic Summit,’ he said, is hoped that all involved can honestly sit around the table and exchange ideas for national development.
This, he said, must be done without impeding the responsibility of government to manage the economy.
“We need to bridge the bridges,” said Webster.
Nascimento told media operatives that it must be taken into consideration that the electorate at the 2011 election gave a new dispensation that has placed executive power in a government that does not have the majority in Parliament.
This, he says, places a greater demand on both the Executive and the Opposition to do “everything possible” for the better management of the country and to find common ground and consensus.
It was pointed out that as a result of the meetings held yesterday with the political Opposition and the Executive, that, at least on the part of the Executive, the “door is open”, while on the part of the Opposition, there is the belief that the door is not open ‘wide enough.’
He reminded that the budget is not merely about figures, but about substance as well, and that the Opposition wanted a greater say.
Nascimento said that the President is concerned that “Parliament is overly divided about what should or should not be said.”
This, he said can also send the wrong signals to investors.
Dookhoo told the media operatives represented at the forum that “Governance cannot be divorced from investor confidence or economic stability…we have a great economy, it’s doing well,” said Dookhoo as he asked, “How do we get it to the next level?”
He said that what has transpired in the political halls of power is all part of Guyana’s own political evolution and added that he is confident, “we are going to get more mature as we go along.”
Dookhoo did concede that there is a greater need for a sharing of information between stakeholders, particularly the Government, and Opposition, and added that such a move could foster greater transparency and accountability.
These, he said, are principles that the Private Sector Commission has been championing and for which there has been positive feedback from the administration
“We don’t like the current politics,” said Dookhoo, who added that the days for the political status quo “must go, we must demand it.”
He said that the Opposition has put forward a number of requests that the Private Sector Commission does not deem as unreasonable.’
He suggested that some of what the Opposition has called for should be implemented as a matter of urgency, such as the establishment of the Public Procurement Commission.
Politicians should stop paying mere ‘lip service’, according to Dookhoo, who called for an environment where there is a greater effort to talk about the issues.
The Private Sector, he said, has adopted a position of zero tolerance when it comes to corruption, a call he says that has resonated in the administration.