– says Parliament will be held accountable for damage to economy
THE Private Sector Commission (PSC) has come out with strong criticisms, after Opposition Members of Parliament (MPs) rejected consideration of a petition by the combined private sector on the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill at Thursday’s sitting of the House.

The PSC has also condemned the non-enactment of the AML/CFT Bill, which its petition called for.
The petition highlights the serious economic implications if the AML/CFT Bill was not passed within the November 18 deadline and urged the Opposition, comprising the APNU and AFC, to support the Bill in the national interest.
In a statement, issued yesterday, the Commission registered its “deep disappointment” in the actions of Opposition MPs and stressed that the 10th Parliament will be accountable for any damage that may “accrue to the Guyana economy” going forward.
The PSC maintains that the Opposition has effectively ignored the importance of the private sector as a stakeholder in Guyana’s development, by denying the body a voice in the National Assembly.
The PSC said: “This action reveals an inexplicable contempt for the stakeholders of this country and/or a lack of understanding of how the economy functions.
“In a civilised world, on critical matters of economic and national importance, it is mandatory for leaders to rise above this petty and often retrogressive tit for tat disposition.
“We expect nothing less from our elected representatives, who must understand that merit is the most important factor for the people of this country.”
The Commission underscored the role of the private sector, as a driver of the local economy, particularly given that it represents the entire economic spectrum of Guyana and provides the majority of the employment opportunities – a fact noted in the petition to Parliament.
The Private Sector Commission also noted State ownership of the productive sector of the economy has failed as is evidenced today by sugar, the last remaining industry that remains within State ownership.
“The Private Sector collectively is one of the most important stakeholders in this country with a legitimate and irrefutable interest in preserving the health and stability of the domestic economy and it is for this reason – to protect against further economic slippage – that the Private Sector Commission petitioned Parliament.”
While Opposition MPs fought to not have the petition read, the Government’s primary argument, through its Chief Whip, Gail Teixeira, was that the right of people to have their views voiced in the National Assembly is “sacrosanct” and “enshrined.”

(By Vanessa Narine)