– GRA commissioner general

COMMISSIONER General of the Guyana Revenue Authority (GRA), Godfrey Statia said while the private sector is critical to the growth and development of a country, it cannot operate in a vacuum, as he underscored the importance of government creating an enabling environment.

Statia, an Attorney-at-Law and an Accountant, delivered the key note address during the Private Section Commission (PSC) 26th Annual General Meeting at the Guyana Marriott on Thursday.
In his address to high ranking members of the private sector, members of the diplomatic corps, and officials from the University of Guyana, the Commissioner General said Government must put supporting mechanisms in place that would allow the private sector to thrive and ultimately fulfill its role in the nation building process.

“It needs to provide good policy, strong institutions and efficient public goods and services to ensure the private sector can thrive and the benefits of growth reach all citizens. Governments must also commit to develop and sustain the institutions that implement, oversee and regulate those policies,” he said.

It was noted that many of the constraints to growth identified by the private sector are directly linked to Government decisions and action.

Statia, while applauding Finance Minister, Winston Jordan for capitalising on Public Private Partnerships (PPP) in the design, construction and maintenance of the country’s infrastructure, said additional joint ventures with the private sector could extend services into poorer communities, provide safer work places, promote adoption of non-discriminatory employment policies, help the poor access credit, boost investment in low-cost housing and provide assistance to the poorest families through the provision of micro-finance.

Private sector participation, the Commissioner General said, is also key to nurturing Local Economic Development (LED) strategies that create a mix of local skills, resources and ideas that would stimulate the economy.

“Our country’s economy and finance has gained considerable trust among international financial institutions and international partners. Achieving national development calls for bolder action from diverse actors across our society, whose collective efforts far outweigh what they could deliver individually, and the private sector is the first among these actors,” he told those present.

GOOD ENVIRONMENT
However, the Commissioner General said that the public sector must pave the way to allow the private sector to engage in planning, public policy and development objectives.
He also added that the public sector must consider incentives that encourage private sector participation, in addition to arrangements beyond PPPs to meet its financial needs.

“Our policy makers must continue to engage with the private sector and adopt a proactive approach to the business/development dialog. The private sector needs a seat at the ‘development table’ to highlight the benefits the private sector can bring, while at the same time better understanding the needs of its clients,” Statia argued.

It was on this note that he applauded the decision of the Finance Minister and the Private Sector Commission to meet quarterly to discuss matters of mutual interest.
Meanwhile, outgoing Chairman of the PSC, Edward Boyer, in his address, said the PSC during the year continued its quest to promote prosperity and economic stability within the country while championing the private sector as a significant element of growth.

“Much of the focus this year was to become prepared for the mammoth opportunities open to Guyanese businesses, as our country heralds the influx of oil and gas,” he said, while noting that the commission made deliberate efforts to bring its members up to date with the opportunities that exist within the budding sector.

“With the advent of oil and gas, Guyana has already started to attract investors and the industrialisation of the nation has begun. The potential influx of capital and growth in GDP has already resulted in foreign and local companies becoming interested in expanding through partnerships and investments and we see the need to be prepared,” Boyer added.

WORK WITH GOVERNMENT
The outgoing PSC chairman also reiterated the private sector’s commitment to working with the Government on all levels to improve prevailing conditions.
“I take this opportunity, to complement our Government on a number of its accomplishments, including local government elections, establishment of the Procurement Commission, reduction of Corporate and Personal taxes, increase of the personal threshold and lowering of the VAT percentage. I applaud our Government for their determination, to address the Public – Private Partnerships in Guyana, and their recognition of the need for co-existence and collaboration,” Boyer said.

However, he noted that more can be done to simplify the means of doing business.
Former chairman and executive member of the PSC, Major General (Retired) Normal McLean also underscored the important relationship the Government and Private Sector share, stating that while the PSC is integrally involved in the formalisation of the Green State Development Strategy (GSDS), more needs to be done to address the energy issues facing the private sector.

Noting that the key to the country’s future rest with energy and electricity, Major General McLean opined that generation of electricity from solar and wind power will not electrify and industrialise Guyana.

He further added that the emphasis on small hydro power plants at places such as Moco Moco and Tumatumari could only electrify communities within which they fall. He made a case for the development of large hydropower plants, and the use of natural gas.

Meanwhile, when the elections were held for new executives, Desmond Sears was elected chairman of the PSC while current president of the Georgetown Chamber of Commerce and Industry (GCCI), Deodat Indar was elected vice chairman. Komal Singh was elected secretary and Zulfikar Ali, treasurer.