Budget 2014 is positive; concepts are sound- PSC Chairman
MINISTER of Finance Dr. Ashni Singh on March 24 presented the largest budget in the history of the country to the National Assembly, valued at $220B Budget and themed ‘By Guyanese A Better Guyana for All Guyanese.’
Chairman of the Private Sector Commission, Ronald Webster
Chairman of the Private Sector Commission (PSC) Ronald Webster in an invited comment yesterday, told the Government Information Agency (GINA) that the Budget is very positive and the concepts are sound. One of the key measures in the Budget that is appreciated by the PSC Chairman is the funding for port Georgetown.
Webster said that “the private sector has been pushing for a very long time for development work to be done in the Demerara Harbour, dredging the channel from the bar in and the general development of the port. The budget recognises the need and there is a $100M for preliminary work that is positive,” he pointed out.
Another encouraging aspect in Budget 2014, Webster pointed out is the investment in hinterland airstrips that is essential to the development of the tourism industry. He noted that overall in the Budget there is a major investment in infrastructure, including interior roads and this is positive.
Webster however, said that one of his concerns with the budget is the continued subsidy on energy. “I would have preferred to see those subsidies being reduced over time and the money being invested in subsidies being put into old age pension schemes, possibly a restructuring of National Insurance Scheme (NIS) because from a private sector standpoint I think that would provide opportunities for investment in the energy sector, once it is operating on a level playing field,” he said.
“But overall I think that a lot can be done with the proposals in the budget, but there must be leadership,” he said. He said that leadership, essentially in municipalities will be essential with regards to cleanup of Georgetown and other municipalities. Webster said that the country’s clean-up initiative is critical from a commercial standpoint and a moral position for the country, “but somebody, some group has got to run with it and make sure it happens.”