Swift policy action will be necessary from the next government

Dear Editor,

Guyana’s real potential growth rate is 8 per cent plus. Unfortunately since the death of Cheddi Jagan, Guyana has not seen growth rates anywhere near these levels. As a nation since 1997 we have averaged a growth rate at about 3.2 per cent. To really grow the nation out of poverty we have to be growing at above 5 per cent. Thus, the Jagdeo/Ramotar era remains a very disappointing era for the working class.

The next government faces significant challenges. They have to revamp the way decisions are taken. The PPP standard of hogging all the deals for a small cabal has to cease and the pace of implementation of projects has to be accelerated. The gold standard has to be transparency in actions and decisions. Unless that is done, we will not be able to attract the quantum and kind of investments necessary to grow Guyana’s economy at the desired rates.

What is vitally necessary from a Granger-Nagamootoo led government is bold policy steps being taken early. Big wins in the first 100 days such as incentivizing the Berbice Bridge Company to reduce the tolls, establishing the Public Procurement Commission, immediately releasing a 10 per cent across the board increase for all classes of workers and halting all mega procurement of goods and services and capital projects for urgent review are mandatory. It is hoped these reviews will be able to cut out any acts of waste and squandermania as practised under the Ramotar administration with a clear aim of restarting the relevant projects within 100 days of May 11. In the grand scheme of things, in the first 100 days, they have to firmly establish the guidelines to reshape Guyana’s economy. There is no time for more speeches after May 11, just concrete policy action. After all, judgment days from the electorate will be 5 short years away and in a turnaround environment that time will fly like a rocket and the PPP will still be cash rich five years from now waiting in the wings of power to capitalise on any shortcomings of the incoming administration.

Along with the economic and human development agenda items, there will be political agenda items like constitutional reform that will be running parallel along with the socio-economic agenda such as police reforms, etc. But key issues for consideration in the first year would be tax reforms, police reforms, reforms within the main economic sectors to progress the idea planted by Granger that as President he wants a value added economy – no more raw rice, raw sugar, raw gold, raw bauxite, raw logs. All the economic sectors will have to be reformed to ensure they are prepared for legitimate foreign and local direct investments. No sector should be the forbidden areas of Guyana any more. No exclusive contracts for medical supplies any more. No secret deals that allows the export of thousands of raw logs out of Guyana through the back door with no scope for wood processing or furniture manufacturing. Bartica and Mahdia must be developed into Free Trade Economic Zones that drive a thriving jewellery manufacturing industry, rather than the export of raw gold. Sugar has to be reformed to ensure that all the upstream value added products can be produced and marketed to claim a greater share of the value chain for Guyana.

In the final analysis, swift policy action will be necessary from the next government.

Yours faithfully,
Sase Singh