–points to Guyana’s judicial system as solution for parties that feel aggrieved
THE Guyana Manufacturing and Services Association (GMSA) has strongly condemned a recent call by the political party We Invest in Nationhood (WIN) to boycott several longstanding Guyanese businesses.
WIN, led by United States-sanctioned businessman Azruddin Mohamed, urged the public to boycott legitimate private sector companies.
In a statement, the GMSA warned that such political manoeuvres amount to economic sabotage and pose a serious threat to national development.
“Political competition must never come at the cost of economic sabotage,” the GMSA said, stressing that the private sector must not be weaponised for partisan agendas.
The association said: “Our business community must not be politicised. Attempts to do so are destructive to national progress.”
The GMSA stated that it has consistently championed efforts to build and maintain a credible Guyanese business environment, and warned that statements like these only serve to create uncertainty.
The association noted that the targeted businesses are among Guyana’s largest manufacturers, supporting thousands of jobs and contributing significantly to national revenue.
It said that many of them provide essential goods and services and are publicly traded, with a responsibility to protect the interests of shareholders—many of whom are ordinary Guyanese.
The GMSA further underscored the obligations of commercial banks, noting that they must comply with international standards, including Office of Foreign Assets Control (OFAC) sanctions and anti-money laundering regulations.
These institutions, it said, are duty-bound to protect the financial system and depositors alike.
“If any party feels aggrieved by the actions of a private business, Guyana’s judicial system remains the appropriate and available forum for resolution,” the association added.
Standing in solidarity with the affected companies, the GMSA called on all political actors to act with restraint and responsibility.
“Let us not undermine the private sector, the very engine of Guyana’s economic future,” the statement concluded.
It was reported recently that the Demerara Bank, Guyana Bank for Trade and Industry (GBTI), and Citizens Bank have started closing the accounts of WIN candidates after conducting various risk assessments.
Despite the widely reported risks of association with sanctioned individuals, Mohamed, through his party, has chastised two of those institutions for their move, which involves taking precautions and safeguarding their operations.
In a statement on the Team Mohamed Facebook page, he labelled the reputable institutions as corporate footstools of the PPP/C and warned them, specifically Demerara Bank and GBTI: “This atrocity will not go unanswered.”
The statement noted: “As a first step, we call on all Guyanese to boycott: Demerara Bank, Guyana Bank for Trade and Industry (GBTI), Demerara Distillers Limited (DDL) and all their goods and services, The Beharry Group and all its subsidiaries, goods, and services, KFC, and Pizza Hut.”