-encourages parties to maintain stability

AS the Government and the opposition prepare to make their submissions to the Caribbean Court of Justice (CCJ), the Private Sector Commission (PSC) has urged both parties to reach a consensus on the matters.

The CCJ had ruled that the no-confidence motion against the government was validly passed and that the appointment of the chairman of the Guyana Elections Commission (GECOM) was flawed.

The CCJ, having upheld the no-confidence vote against government and simultaneously quashing the appointment of Justice (Ret’d) James Patterson as GECOM chair, will make a number of consequential orders on July 12, 2019.

This has given the parties in the two cases an opportunity to meet and hammer out a consensus before the court gives those orders. All parties in the matter have been asked to make submissions to the CCJ on or before July 1, 2019. Against this backdrop, the private sector remains cautiously optimistic that the political directorate will come to some compromise. Chairman of the PSC, Desmond Sears, said the people of Guyana and investors are hopeful that political stability will be maintained.

“However, until such time the business climate, with the exception of oil and gas, which remain largely unaffected by political circumstances, other businesses are closely monitoring the situation as business activities are noticeably dwindling,” said Sears in his remarks at the PSC’s Annual General Meeting at the Marriott Hotel on Friday.

He said political instability would affect growth and can dampen investor confidence and private investment. “It is of paramount importance that the situation of political instability or crisis be averted at all cost,” said Sears, adding that if there is political instability, private investment would become slumped and stagnated.

In that regard, the PSC chairman urged political leaders to resolve those issues in a swift manner, which is in the best interest of Guyana. CCJ President, Justice Adrian Saunders had also urged both parties involved in the case, mainly the President and the Leader of the Opposition, to meet in order to find common ground for a way forward.