Minister of Finance, Winston Jordan last week met with senior representatives of the Berbice Chambers of Commerce to discuss how the region can respond to the challenges of the changing local and global economy.

Prominent among the issues discussed were the future of Guysuco, rice markets, SARA Bill and some aspects of the tax reform measures of Budget 2017, a Ministry of Finance release stated. According to the release the Chambers’ representatives led by President M.S. Raffic admitted that Guysuco ‘is a burden on taxpayers and (it) must be privatised as soon as possible’, but they were keen to advise that Government must critically examine alternatives to both employment and the industry so as to ensure that the livelihoods of employees and the gains made by communities are not jeopardised. They suggested that ethanol production can be explored as an alternative.

Minister Jordan in response assured them that Government is indeed examining strategies through which Guysuco can become viable again as it is presently heavily in debt which is compounded by the loss of preferential markets and prices. The representatives expressed unease with the SARA Bill but were advised to document their concerns about the Bill at a general level and a specific level, highlighting the provisions that they find worrisome so that it can be discussed at Cabinet.

During the discussions too, Minister Jordan announced the reactivation of the Guyana Revenue Authority (GRA) Private Sector Subcommittee meetings which will be chaired by Minister within the Ministry of Finance, Hon. Jaipaul Sharma.
He also extended an invitation to the Chambers for a quarterly meeting with them but added that his door is always open to discuss any issues under his remit that may arise during the interim, the release added. A similar invitation was extended to the Private Sector Commission in August last year. The meeting was chaired by the Minister of Finance. Also in attendance were Minister Sharma and Commissioner General Godfrey Statia.