Guyana_Chronicle_Business_Newsletter_30_04_2021

New licences for quarrying --as sector edges closer to becoming economic powerhouse

PAGE

4A

PAGE

2A

New US$10M firm targets oil waste

Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh

Feeding the nation with healthy 7A alternatives PAGE

Proprietor of Liquid N-ergy, Alana Mann-Yisrael

Moving towards ‘green’ businesses and a cleaner environment 15A PAGE

2A

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

New US$10M firm targets oil waste

PRUDENT management of every aspect of Guyana’s petroleum sector is critical, and, in recognising this, a group of investors have pooled their resources to launch a US$10 million firm, Sustainable Environmental Solutions Guyana Inc. (SES), to manage “oil waste.”

The company was formed in 2020 after being awarded a long-term contract by a major petroleum operator in Guyana. This award covers the management of hazardous waste, non-hazardous waste, and the treatment of drill cuttings.

According to a statement from the company, the composition of SES brings to Guyana, strong local content in keeping with the government’s initiative to have more local involvement in the oil-and-gas business, and achieving the highest international waste-management standards from day one.

The company, which was launched officially on Tuesday, comprises Gaico Construction and General Services Incorporated and Corena Group, which oper-

Business: (L-R) SES Inc. Chairman/Partner, Komal Singh; Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh; GYSBI Partner, Robin Muneshwer; GYSBI General Manager, Sean Hill; Corena Partner, Paul Roach and Gaico Business Development Director, Khishan Singh (DPI photo)

ates as Gaico Corena Environmental Services, and the Guyana Shore Base Incorporated (GYSBI).

Gaico Corena Environmental Services Inc. brings international expertise from over 104 countries, while GYSBI ensures there is maximum local content to the construction and operation of its facility.

The SES facility has been designed to manage a wide

range of wastes. A unique service of this facility is its capacity to process drill cuttings and to recover large amounts of base oil which can then be recycled into various mud plants around the country.

The utilisation of stateof-the-art furnaces minimises harmful emissions into the atmosphere, while a waste-water treatment plant has been designed to manage

all fluids from bilge waters to tank-cleaning effluent.

“The integration of these processes will make this environmentally friendly facility state-of-the-art, and keep Guyana beautiful and green. SES is fully committed to ensuring maximum local content in its pursuit of minimising carbon footprint and caring for the environment,” the company said in its statement.

Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh (DPI photo)

Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh, has said that local businesses and companies should replicate SES’s posture and actively seek opportunities to penetrate and benefit from the oil-and-gas value chain.

Speaking at the launch of the company, Dr. Singh said: “I think it’s extremely commendable that Guyanese companies spotted an opportunity to innovate; to enter a space where Guyanese companies had hitherto not

entered; identified that there were technologies and skills that they did not have; seek out a credible international partner with a track record like Corena; engaged them, concluded a joint venture in the manner that you did, tendered, competed presumably with a significant number of other competitors, I would imagine; compete for business with ExxonMobil and win a 10-year contract with ExxonMobil to do this particular function. I think this See page 6A

4A

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

New licences for quarrying --as sector edges closer to becoming economic powerhouse

By Navendra Seoraj WITH an accelerated housing programme, massive highways, and community roads to be developed, Guyana’s quarrying industry will no longer be able to take a backseat among the productive sectors, but rather be efficiently exploited for local consumption and progressive projects.

According to the Institute of Quarrying, this activity involves the process of removing rock, sand, gravel or other minerals from the ground in order to use them to produce materials for construction or other purposes.

So, a quarry is any such work on the surface of the earth where minerals are extracted. Quarries are also known by other names around the world, such as: ‘Surface mine’, ‘pit’, ‘open pit’ or ‘opencast mine’.

The Institute says that materials produced by quarrying are essential to everyday life, providing the construction materials to build roads and buildings, delivering vital minerals to agriculture, and supporting the generation of electricity among other things.

In Guyana, the government is expending close to $172.4 billion, or 45 per cent of its $383.1 billion budget on education, public infrastructure, and healthcare.

And, based on an analysis of the country’s budget, a sum of $58.2 billion of planned expenditure on public infrastructure is the second largest component of the government’s fiscal programme.

Simply put, this, supplemented by projects undertaken by the private sector, will increase the demand for construction and other materials derived from quarrying.

In fact, President Dr. Irfaan Ali, has said that the extraordinary demand from the “construction boom” has resulted in the importation of an estimated 40 per cent of construction materials, at an approximate value of US$10 million.

While an increase in economic activities is always good, the pitfall in this regard is that such a large amount of the commodities had to be imported, when, in fact, they can be produced locally.

“We can produce this locally,” President Ali said during a press conference at State House on Wednesday.

POTENTIAL FOR ADVANCEMENT In speaking about the potential for advancement in the quarrying industry, the President said: “Guyana has a huge quarry potential that has been greatly underdeveloped.

President, Dr. Irfaan Ali Our accelerated housing programme, massive highways and community roads to be developed will increase our demands three-fold over the next five years.”

In order to maximise local benefits, create jobs, and expand local content through this industry, the government is in the process of issuing new quarrying licences so as to fully satisfy local demand.

Last year, the mining and quarrying sector is estimated to have expanded by 303.7 per cent, and, based on available statistics, this sector is projected to grow by 39.1 per cent in 2021, driven by growth across all industries, namely, oil, gold, bauxite, and other mining and quarrying in 2020.

Reports are that the magnitude of potential growth is no surprise, as the incumbent People’s Progressive Party/ Civic (PPP/C) government had said, from the onset, that it will not be working in isolation, but will be moving swiftly towards achieving its development agenda.

Evidently, the government intends on staying true to its word, as there are clear plans in place to enhance the infrastructural landscape of the country.

Minister within the Ministry of Public Works, Mr. Deodat Indar has said that the current budget for infrastructure represents $32.9 billion or 32 per cent of the total capital expenditure for

the country for 2021. The country’s aggregate capital expenditure for this year is $103 billion.

This investment, according to the Georgetown Chamber of Commerce and Industry (GCCI) in its message following the announcement of Budget 2021, provides the financial grounding for the buildout of the country’s infrastructure, and the basis for re-starting economic growth, which would have been hindered by a protracted electoral process, and the pervasive COVID-19 pandemic.

The government’s total budget for road programmes is $23.7 billion, $7.9 billion of which will go specifically towards the development of community roads. Of the budgeted sum, $2.1 billion has been set aside for hinterland roads, and the rehabilitation of a number of hinterland airstrips.

In moving forward, construction, the sector with one of the highest multiplier effects in the economy, is anticipated to provide employment and spinoff effects to catalyse economic growth.

“You have to prepare for the new economy. The economy before you is an expanding oil-and-gas sector, and we will need infrastructure onshore to move goods, people and services more efficiently and cheaper,” Minister Indar said during a recent interview.

It has been reported also

that Guyana’s economy will remain resilient against the effects of the dreaded novel coronavirus (COVID-19) pandemic, maintaining its positive growth trajectory as the burgeoning petroleum sector ‘picks up steam’.

Based on the latest estimates from the World Bank, the Gross Domestic Product (GDP) of the Latin American and Caribbean Region will be 2.6 per cent lower at the end of 2021 than it was at the end of 2019.

The international financial institution, in its semi-annual report on the region, said Guyana’s growth rate will remain in the double digits.

Guyana grew at an extraordinary rate of 43.5 per cent in 2020, having completed a year of oil production.

The positive spillover effects were, however, dampened by a deep contraction in the non-oil economy, triggered by measures to contain the COVID-19 pandemic.

Despite the lingering adversities, projections remain positive, with the country set to record an economic growth of 20.9 per cent at the end of 2021, and another 26.0 per cent in 2022, and again 23.0 per cent in 2023.

The country’s GDP of about $6.8 billion is expected to more than double by 2025, reaching over $14 billion.

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

Restaurants struggle to find staff ahead of reopening

BBC - Bars and restaurants are struggling to recruit enough staff and some may not be able to fully reopen in May, after thousands of workers left the sector.

Venue owners say they are expecting huge demand from customers, but staff shortages may mean they have to limit opening hours.

Figures suggest more than one in ten UK hospitality workers left the industry in the last year.

Recruitment site Caterer. com said the pandemic and Brexit were to blame.

Some have managed to find alternative employment, but a high proportion may have left the UK altogether, the recruiter said.

So, although many hospitality workers were laid off during the last 12 months, restaurateurs are now finding it hard to fill places.

Celebrity chef Michael Caines is one of those finding recruitment difficult.

He operates two restaurants on the Cornish coast

and a hotel in Exmouth. A beach bar and restaurant in Exmouth is also due to open.

He is currently trying to hire 20 new staff members across the group.

“Without question, recruitment is a challenge,” he said.

“All of the businesses are extremely busy.

For the next three, four months our hotel is completely booked up, so we’re desperately trying to recruit enough staff.”

Mr Caines said Brexit and the pandemic have led European workers to leave and not return, but he said another problem is the number of workers still on furlough.

While they are waiting to return to work, they are less willing to switch employers.

“A lot of people feel very concerned about leaving a job where they qualify for furlough to take the new job where they wouldn’t qualify for furlough if there was another lockdown,” he

explained.

“So, there’s a bit of nervousness from an employee’s point of view.”

Mr Caines is hoping roles will be more easily filled when students break up from

college and university and start looking for summer work.

Restaurants and bars have been allowed to serve food and drink outdoors since 12 April, while indoor dining is expected to restart from 17 May. And many UK hospitality venues are hoping pent-up demand and a more UK-focused holiday season to translate into a bumper summer.

As a result, recruitment

was a “growing issue”, said UK Hospitality chief executive Kate Nicholls. It was more acute in some areas, such as London, than others, she added, and could mean some venues struggle to reopen.

The trade association said chef vacancies are among the most difficult to fill. But restaurant owners have reported staff shortages across all types of roles.

Specialist recruiter, Caterer.com, said the number of vacancies on its website had grown by more than 85% in the last few weeks, with 22,000 roles now being advertised.

But it pointed to figures from the Office for National Statistics suggesting 355,000 fewer people were employed in hospitality than a year ago. Pre-pandemic around 3.2 million were employed in the sector including bars, restaurants and hotels.

“Many restaurants, pubs and bars have experienced a

sudden surge in business due to built-up customer demand and an increase in consumer confidence which is great news for the hospitality industry,” said Caterer.com director Neil Pattison.

“However, the impact of the pandemic, combined with Brexit has the potential to create a significant recruitment challenge for the sector and we are likely to see the skills shortage it once faced starting to return.”

Before Brexit a lot of the UK’s hospitality workforce was made up of workers from overseas, including from the EU, but hundreds of thousands of foreign workers have left the UK over the last year and it is unclear whether they will return.

Luke Garnsworthy, who owns Crockers Henley, a hotel and fine dining restaurant in Oxfordshire, and Crockers Tring in Hertfordshire, said he is struggling to recruit enough staff for when his restaurants open fully next month.

5A

As well as chefs, he is hoping to hire front-of-house staff and waiters.

“I’ve put adverts out and I thought I was putting the net out into a sea full of fish but it’s not been like that at all.”

Mr Garnsworthy would like to employ between 45 and 50 staff at his Henley venue where the headcount is currently only at 12.

He said senior team members will step in to fill roles where necessary, but the restaurant was only likely to be able to open five days a week instead of seven.

Recruitment in hospitality has always been a challenge, even before the pandemic, but is “definitely worse now”, according to Mr Garnsworthy.

“We are perceived as unskilled, so the country looks down their nose… and young people are not interested.”

He wants them to know that although it is hard work “the days of Gordon Ramsey shouting” are over at least.

6A

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

Significant year ahead for local oil exploration activities THE year 2021 is shaping up to be significant for exploration and appraisal operations in the Guyana-Suriname basin, with more than 12 exploration and appraisal wells scheduled for Guyana alone, Westmount Energy has said.

Westmount Energy, a holding company for a group of subsidiaries, which operate in the oil and gas-related industries, owns an indirect interest in the Canje block via a 7.7 per cent shareholding in JHI Associates, which in turn, owns a 17.5 per cent stake in the exploration project.

The company’s current investment portfolio is now focussed on the ongoing ExxonMobil-operated drilling campaign at the Canje Block, with the drilling outcome of two additional large independent prospects, Jabillo-1 and Sapote-1, due to be revealed soon.

Its portfolio also includes exposure to other oppor-

tunities offshore Guyana, including the Bulletwood-1 well, which is confirmed to have hydrocarbons but not in commercial volumes. Data from the Bulletwood-1 well

Guyana-Suriname basin continues to accelerate, driven by the industry’s focus on ‘advantaged barrels as a result of the unique combination of prospect

--Westmount Energy predicts breakeven metrics (US$25 to US$35 per barrel), available offshore Guyana,”

The Liza Destiny FPSO

is still being analysed.

“Drilling activity in the

sizes, reservoir quality, low carbon intensity and low

Westmount reasoned.

The investment company believes that any commercial discovery in one of the “Canje wells” could result in transformational value changes for them.

It is on this basis that Westmount made its positive prediction for 2021, which follows a report from Norwegian independent energy research and business intelligence firm, Rystad Energy. Rystad Energy had stated that 2021 holds “a lot of promise” for Guyana’s burgeoning petroleum sector.

According to Rystad Energy, ExxonMobil, in addition to the Canje Block, will be “firming up” resources in the southeastern part of the Stabroek Block, where deeper plays have been observed underneath the existing discoveries.

The Stabroek Block is 6.6 million acres (26,800 square kilometers), with current discovered recoverable resources estimated at more than nine billion oil-equivalent barrels. The 19 discoveries on the block to date have established the potential for at least ten floating production, storage and offloading (FPSO) vessels producing more than 750,000 barrels of oil per day by 2027.

ExxonMobil’s first offshore Guyana project, Liza Phase One, began producing in late 2019, well ahead of the industry’s average for development time. Liza Phase Two remains on track to begin producing oil by early 2022.

Liza Phase Two will produce up to 220,000 barrels of oil per day at peak rates, using the Liza Unity FPSO. Late last year, the oil giant, following an agreement with the Government of Guyana, decided to proceed with the Payara field development offshore Guyana.

Payara is ExxonMobil’s third project in the Stabroek Block, and is expected to produce up to 220,000 barrels of oil per day, after startup in 2024, using the FPSO vessel. The US$9 billion development will target an estimated resource base of about 600 million oil-equivalent barrels.

“Rystad Energy data suggests that close to 300 million barrels of oil equivalent have been discovered on average for each exploration well (wildcat and appraisal) drilled in the country over the past six years,” Analyst attached to Rystad Energy’s upstream team, Santosh Kumar, said in a recent report.

BLUE-CHIP INTEREST According to Westmount Energy, Guyana, with its positive prospects and vast potential, remains one of the few areas of “blue-chip” interest in high-impact exploration. Investopedia defines blue-chip stocks as secure investments because they pay out dividends as well as consistently and steadily grow over time.

It was reported recently that Guyana’s role in the global petroleum industry could be bigger than it appears on the surface, as an analysis done by global energy research and consultancy group, Wood Mackenzie, shows that the country is among five nations which will produce most of the remaining deep-water oil resources.

“We found that 80 per cent of the remaining deep-water oil resources will come from five countries (Brazil, the U.S., the Gulf of Mexico, Guyana, Nigeria, and Angola). Therefore, understanding the quality of their reservoirs is key to identifying who has the best oil,” Vice-President of Subsurface Research for Wood Mackenzie, Dr Andrew Latham, is quoted as saying in a report from Wood Mackenzie.

Guyana attracted international attention after ExxonMobil made the first commercial discovery of oil offshore Guyana in 2015 and started production in December 2019.

ExxonMobil, on Tuesday, announced its 19th discovery offshore Guyana at the Uaru-2 well.

New US$10M ...

From page 2A is something for which you should all be commended and applauded.”

Further, he said: “It would have been easy for Guyanese companies to sit down and say we don’t have the technology to offer what ExxonMobil needs in this particular instance. We don’t, or we didn’t, as far as I’m aware,

have the technology capable of processing waste in the manner that SES proposes to do until very recently.”

According to a report from the Department of Public Information (DPI), the minister explained that the current generation is living in a period that will allow them to witness and participate in the most significant growth in Guyana’s history.

He added that Guyana has already seen a steep uptick in the investment climate due to the policies implemented by the new government.

Dr. Singh vowed that the government will continue to facilitate significant growth and investment by improving the ease of doing business.

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

Feeding the nation with healthy alternatives

-- Alana Mann-Yisrael on a mission to provide Guyanese with wholesome ‘superfoods’

By Mesha Sealey FROM the time we enter primary and even nursery school at times, we are taught all about the benefits of being healthy. We are educated on how beneficial a healthy diet is, and we learn about go foods, grow foods and glow foods so we know just how big a role the food we consume plays in our health.

It’s no surprise, then, that at multiple points in our lives, despite being used to eating all forms of junk, we try to eat healthier. We try to adjust our diets to reflect that of a person who wants to be clean and healthy, both inside and out.

However, in Guyana, ‘eating healthy’, with new research and dietary plans, is a bit easier said than done.

One of the biggest challenges we face here is that of insufficiency in certain types of foods. In recent times, research has time and again shown the extreme health benefits of rarities such as quinoa and chia seeds, which offer high levels of protein and protective phytochemicals, help to protect cells.

However, in order to have frequent access to these foods, lots of persons here in Guyana find themselves forking up large amounts of money just to acquire small portions of these ‘superfoods’.

This, though, may not be the case for much longer, thanks to the initiative of 28-year-old sole proprietor and mother of one, Alana Mann-Yisrael.

When she launched her Organic Non-GMO Whole Foods business in September of 2018, it was due, partially, to her own experience in trying to access healthy food, and partially due to a realisation she had while scanning the options she was presented with.

“I came to the realisation that, on the average supermarket shelves, there was nothing that catered to diabetics, hypertension, or persons who generally have gluten problems, or issues where they would have to adjust their diet,” the young woman revealed.

When she started to

A few of the Liquid N-ergy products

Proprietor of Liquid N-ergy, Alana Mann-Yisrael

purchase her own products, upon realising just how high the prices for some of the items were, it dawned on her that there were many other persons who were not able to access the healthy foods they required, and she began thinking of ways in which to make those products available “to the average Guyanese”.

“There wasn’t a business that was transparent that really provided a focus on getting really clean stuff for the average Guyanese citizen.

Despite the fact that her business was launched at a time when there wasn’t a large focus on types of meat-exclusive diets in Guyana, Mann-Yisrael pushed ahead with her concept.

PROVIDING A SERVICE “Eventually, persons would catch on and educate themselves and get into the products,” she explained, “but it was more providing a service for persons than supplying an actual product, because I knew that once I focused on making it a service, everything else was going to fall into place.”

According to the young woman, her business initially started as a supply service for vegan Guyanese, due to frequent complaints about the lack of certain foods that

contained certain nutrients found in meat.

“So chia seeds were the alternative that could be used as breakfast foods, and quinoa could be used more for lunch and dinner,” she explained. She also listed a number of other foods that can be used as alternatives to traditional ingredients such as coconut flour in place of wheat flour, pink Himalayan salt, and monk fruit sweeteners, which are low-glycemic, in place of sugar.

Mann-Yisrael told this newsletter that, in the initial phases of her trade, most of the support came from family members and close friends.

It was really reaching out to supermarkets, though, that helped her to grow a client base.

LOT OF REJECTION “Just talking to them and letting them know that these things would be so beneficial to their health….

It took quite some time, and there was a lot of rejection.

I would say it probably took a year… 12 to 18 months to really get it onto supermarket shelves. Because while some believed in it, some didn’t. And as the market caught on, everybody decided, ‘hey, we heard that this thing is really selling, See page 14A

7A

8A

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

9A

10A

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

11A

12A

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

Getting into the ‘green scene’ — entrepreneur shares story of acquiring environmentally-friendly brand

By Mesha Sealey IN January 2016, when Mohamed Nashad Faizoul became a distributor for the Eco Pak line of products, launched by Caribbean Containers Inc. (CCI), it was a bit more than a stone’s throw away from his original business concept.

In fact, the young entrepreneur, like many others, had already decided to pursue business in the agriculture sector, but this dream was quickly quashed when he realised that he lacked all the necessary resources. In fact, he revealed, in an interview with this monthly publication, not only was he short of the financial resources to go into agriculture, but he lacked physical resources like land as well.

As a result of this, when CCI announced that it wanted to sell its line brand of Eco Pak biodegradable food containers in 2016, Faizoul immediately jumped on the idea.

He explained that he was one of the first persons to join the initiative to become a distributor for Eco Pak, as the opportunity came just a few months after the previous Government had instituted the ban on Styrofoam and the products thereof.

“When the Government had announced the ban on Styrofoam, I was looking for an opportunity to start a business; and that is how it led me to go into the biodegradable food containers.

I started by taking samples from Caribbean Containers, and I have driven around the country doing marketing, myself. “And from, you know, displaying and showcasing and educating the restaurants and supermarkets and so forth, I started to get orders. And as I started to get orders, that’s when I decided, in 2016, to take over the line brand from CCI,” the entrepreneur related.

According to Faizoul, CCI did not want to ‘run with’ the Eco Pak line anymore, which gave him scope

Proprietor of Supreme Distributors and N&K Investments, Mohamed Nashad Faizoul

to take over the distribution.

From there, his aim was to use the pegasse-based products to begin making a change in the environment.

ECO-FRIENDLY ENVIRONMENT “When I first took over, I wanted to have more of an eco-friendly environment. That was my purpose.

Then, to increase, and to diversify into other types of eco-friendly products. I think I have achieved that to some extent, because places, for example, I see now… the Guyana Marriott, they’re using strictly biodegradable and eco-friendly packaging.

Down to the bags they’re using… paper bags, instead of plastic bags,” he said.

He also listed organisations such as Bounty Super-

After buying most of the products that CCI had remaining, Faizoul began to import similar products from China via containers.

“I started with a million dollars from CCI when I took over from them. There were roughly about $10M in products. I had to pay them roughly $1M a month as I sold, but there was no cut-off line on how many products I could take from them per month. I learned about the Small Business Bureau, and I had approached them, and I had gotten finances through the Small Business Bureau, at Republic Bank.

FIRST CONTAINER “That is when I brought in my first container, in May of 2016. It was a long-term idea, because in the first five months when I started, I wanted to carry it on. After the first five months is when I realised I wanted to push it for long-term. It got recognition on social media, and I started building a customer

pensers; and in doing so, in 2021—that’s this year—I have opened another outlet in February, in Kingston, Georgetown.”

The young man shared his belief that ‘green products’ such as the Eco Pak line, as well as his sanitising products and dispensers, will help the people of Guyana greatly, since people are more health conscious due to the fear of contracting COVID-19. He underlined his belief that even though COVID-19 may be phased out within the next few years, persons would still exercise caution, and the increased sense of hygiene would continue to prevail.

When asked what his most unique products were, Faizoul listed the Eco Pak line and the sanitiser dispensers, stating of the former: “The benefit of Eco Pak products is that it’s more environmentally-friendly. It doesn’t harm the environment. It’s biodegradable, so over time it doesn’t stay. It just breaks down again into

Proprietor of Supreme Distributors, Mohamed Nashad Faizoul, displays some of the non-woven shopping bags

market, Cara Lodge Hotel, the Guyana Defence Force (GDF), and the Georgetown Public Hospital Corporation (GPHC) as using the biodegradable food containers, noting that the products caught on with both public and private entities.

He recalled the need to keep in constant contact with persons during the start-up phase, and to have products on hand to ensure that his supply could meet the demands of his customers.

base,” Faizoul shared.

“So, from January of 2016, I have been doing that business since then, and I have opened an outlet on the Essequibo Coast. In late 2019, I had started with sanitiser products, and sanitiser dispensers, and so forth.

Eventually, I have started with doing non-woven shopping bags and gift bags. And then, I have increased the sanitising with dispensers; that’s paper towels, toilet paper, all the types of dis-

something that can be used to help the earth.”

Mohamed Nashad Faizoul is the proprietor of Supreme Distributors, as well as N&K Investments, Guyana. The Eco Pak products consist of bio-degradable table wares, including bowls, boxes and cups, which are all environmentally-friendly products because of the materials and the process utilised to manufacture them.

13A

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

Workplace safety a priority

By Tamica Garnett

EVEN though property owners are required to notify the Ministry of Labour (MoL) when construction is ongoing at a site, so that the ministry ensures compliance with Occupational, Health and Safety (OSH) measures, this is rarely ever done.

This limits the ability of the MoL to only being able to visit and monitor construction sites that are

observed, or have been reported, notes Ministry of Labour, OSH Consultant, Gwendolyn King.

“The owner should inform the ministry when they are about to start construction work, but that doesn’t always happen. But when you go out there you would see, because it’s not something to hide,” King noted during an interview with the Guyana Chronicle on Thursday.

Nonetheless, she said the OSH Department has, over the past few months, inspected a number of sites, and would have halted work where proper safety measures were not being observed.

“Last month we stopped work at a construction site in Charlestown; the employer did not provide the requisite personal protective equipment (PPE),” King said. “It

had to do with the scaffolding and workers working there without the harness, so work was stopped, and within two or three days, they provided the necessaries, and the work restarted,” she explained.

She further noted: “In Region One last week, there was a construction site where the [OSH] officer visited, and he made certain recommendations, too. He stopped work in one area, because he needed them to

comply with the health and safety requirement.”

Lack of proper safety equipment being worn by workers on construction sites is common in Guyana, despite the law requiring that all workers be outfitted before being allowed on the sites.

While employers are required to ensure the workers wear the gear, there are complaints of objections from the workers against donning them. In Guyana, to some extent, there is a culture of a lack of safety consciousness on the job.

King’s observation follows the death of 25-yearold construction worker, Lloyd Feroze on Wednesday, after he fell from the fifth floor of a six-storey building being constructed on Regent Street, Georgetown. According to a police report, the building is owned

by local businessman and publisher of the Kaieteur News, Mr. Glenn Lall.

King said that to the best of her knowledge, the site was never reported or visited.

OSH Consultant, Ms. Gwendolyn King

NOT WEARING SAFETY EQUIPMENT Feroze, called “Tony”, of Sisters Village, West Bank Demerara, sustained several puncture wounds to the head and body after he fell through an open space in the floor. According to reports, Feroze was not wearing safety equipment at the time.

According to the report, also, Feroze had been working at the site as a labourer, and was employed by one Mr. Peter Ramdoo, a foreman of Skull City, Patentia, West Bank Demerara, who had been contracted by Lall to construct the building.

The industrial accident comes just days after the Caribbean Office of the International Labour Organisation held a webinar on Construction Safety. It also occurred as the MoL is concluding it’s celebrations of OSH Month, where Minister of Labour, Joseph Hamilton had highlighted construction sites as one of the areas greatly in need of improved OSH monitoring and enforcement.

King said the ministry’s OSH Department has already launched an investigation into Wednesday’s accident.

“Our concern,” she said, “is that we must prevent the recurrence of similar accidents, so we do an investigation. The investigation will comprise a visit to the site, taking pictures, interviewing those people who were around and might have heard

or seen something. Then we come up with what might have caused the accident.

We are going through that kind of process right now.”

The report will tell whether or not Feroze’s death was preventable, and guide the MoL with regards to sanction. King acknowledged, however, that the current penalties stipulated in the law for OSH infrac-

tions are insufficient, and that steps are being made to rectify this.

“The penalties range from $10,000 to $50,000.

We’re reviewing all of those things right now, because we found that the fines are not a deterrent to people to not do what they’re not supposed to do,” she explained.

On the issue of compensation, King noted that the

ministry’s portfolio does not cover that aspect.

“We have no legal authority to deal with compensation; compensation has to do with NIS, if he was a contributor, or the family takes the owner or employer to court, through private action. But we don’t look at that,” King noted.

14A

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

Fiscal stimulus powers U.S. economic growth in first quarter

REUTERS- U.S. economic growth accelerated in the first quarter as the government gave money to mostly lower-income households, fuelling consumer spending and setting the course for what is expected to be the strongest performance this year in nearly four decades.

The government largesse also extended to businesses, especially in the high-contact services industry. The massive fiscal stimulus and easing anxiety over COVID-19, with all adult Americans now eligible for vaccination against the virus, have resulted in a faster economic rebound in the United States compared to its global rivals.

The second-fastest gross domestic product growth since the third quarter of 2003, reported by the Commerce Department on Thursday, left output just 0.9% shy of its level at the end of 2019.

Economists expect a full recovery from the pandemic recession, which started in February 2020, in late 2023.

The report is a boost for President Joe Biden as he celebrated 100 days in the White House.

“In early 2021, the economy was served a strong cocktail of improving health conditions and rapid vaccinations along with a fizzy dose of fiscal stimulus and a steady flow of monetary policy support,” said Lydia Boussour, lead U.S. economist at Oxford Economics in New York. “Looking ahead, we foresee the economy’s spring bloom turning into a summer boom.”

GDP increased at a 6.4% annualized rate last quarter, the government said in its advance estimate for the first three months of the year. That followed a 4.3 per cent growth rate in the fourth quarter. It was the biggest first-quarter increase in growth since 1984.

Economists polled by Reuters had forecast GDP growth would increase at a 6.1 per cent pace in the January-March period.

Income at the disposal of households before accounting for inflation surged by a whopping $2.36 trillion after decreasing $402.1 billion in the fourth quarter. As result, consumer spending jumped at a 10.7 per cent rate, boost-

with savings ballooning to $4.12 trillion from $2.25 trillion in the fourth quarter.

Economists estimate households have accumulated at least $2 trillion in excess savings during the pandemic.

The government has pro-

ed by purchases of motor vehicles, furniture, recreational goods and electronics. Consumers also dined out, stayed at hotels and gambled.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, grew at a 2.3 per cent pace in the fourth quarter. Some of the stimulus money was stashed away,

vided nearly $6 trillion in COVID-19 relief over the past year. Robust demand in the first quarter pushed against supply constraints, leading businesses to draw down inventories, limiting the rise in GDP growth.

Excluding inventories, government and trade, the economy grew at a 10.6 per cent rate last quarter.

The rapidly accelerating growth could revive fears about the economy overheating. The Federal Reserve on Wednesday acknowledged the burgeoning domestic activity, but the U.S. central bank gave no sign it was ready to reduce its extraordinary support for the recovery.

The booming economy could also erode support among moderate Democrats for Biden’s ambitious economic agenda. Biden on Wednesday unveiled a sweeping $1.8 trillion package for families and educa-

tion in his first joint speech to Congress. Republicans oppose more stimulus, now worried about swelling debt. The new package and an earlier infrastructure and jobs plan total around $4 trillion, rivaling the annual federal budget.

“The second quarter will be hotter, people have money to spend as they are able to go shopping and travelling again,” said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in Los Angeles.

“Production is being ramped up to rebuild inventories.

President Biden and (Fed) Chairman (Jerome) Powell, do we need all the stimuli?”

U.S. stocks were mostly higher. The dollar was steady against a basket of currencies. U.S. Treasury prices fell.

POWERFUL MOMENTUM Inflation has accelerated, but many economists, including Fed officials, expect it will be transitory as the labour market remains 8.4 million jobs below its peak in February 2020.

The labour market is gradually recovering. In a separate report on Thursday, the Labour Department said initial claims for state unemployment benefits fell 13,000 to a seasonally adjusted 553,000 during the week which ended April 24.

While claims have dropped from a record 6.149 million in early April 2020,

they are above the range of 200,000 to 250,000 that is viewed as consistent with a healthy labour market.

There were 16.6 million people receiving unemployment benefits in the first week of April.

“We’re still probably a couple years away from pre-pandemic employment levels, but based on the powerful economic momentum built up in the first quarter, we should return close to a fully-functioning economy in the second quarter,” said Robert Frick, corporate economist at Navy Federal Credit Union in Vienna, Virginia.

Economists forecast growth this year could top 7 per cent, which would be the fastest since 1984. The economy contracted 3.5 per cent in 2020, the worst performance in 74 years.

Growth in the first quarter was also driven by business spending on equipment, which posted a third straight quarter of double-digit expansion. But business investment in non-residential structures fell for a sixth straight quarter as a rebound in mining exploration, shafts and wells was offset by a drop in commercial and healthcare buildings.

Residential investment contributed to GDP growth for a third straight quarter.

But trade was a drag for the third consecutive quarter as some of the domestic demand was satiated with imports. Inventories were drawn down at a rate of 85.5 billion.

Feeding the nation with... so we’re going to try it’,” she detailed.

She noted that one of the appeals of her products is their impressive packaging, along with the modern design and the recognisable logo. Liquid N-Ergy products are also packaged in barrier bags, which protect their contents from moisture, dirt, and other contaminants. They are often made with heavy duty plastics, with puncture and smell proof properties, in order to keep the products fresh.

Mann-Yisrael is not only a young female entrepreneur, but she is also a mother who takes pride in creating a service that can assist Guyanese who want to live a healthy lifestyle.

In her charge to other persons now starting a business, or already involved in business management, she had this to say: “Financial management is one of the key things you need to succeed in for any business. Never spend beyond your needs.

Not every income is money to spend.”

From page 7A

Liquid-N-Ergy products are approved by the Government Analyst Food and Drug Department of Guyana and can be reached at Survival Supermarkets, Real Value Supermarket, Bounty Supermarkets, Nirva’s Supermarket, Coss Cutter Supermarket, Andrews Supermarket, DSL Cash and Carry, Foodmaxx at the Giftland Mall, Massy Supermarkets, Fresh Co. Supermarket, Mattai’s Supermarket, and J&P Gaigobin & Sons in Essequibo.

15A

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021

Moving towards green businesses and a cleaner environment — Guyana phasing out consumption of single-use plastic products

By Mesha Sealey

T

HE period of transition from single-use plastic products (exclusive of plastic drinking water bottles) to reusable and environmentally-friendly alternatives is currently underway, according to President of Guyana, Dr Irfaan Ali. He made this statement during a press conference on Wednesday at State House.

The ban on single-use products has been in discussion for a number of years, in an effort to influence the crafting of a bill to amend the Environmental Protection Act 1996, and legally enforce the ban on single-use plastics.

The bid is aligned with a decision taken by the previous administration in 2018 to ban the importation, manufacture, sale and use of single-use plastic bags and other single-use plastics from 2021.

Single-use plastics are plastic products that are used only once before they are thrown out. These include straws, cups, bags, utensils and plates, and are made from polyethylene, the most widely used plastic in the world.

Previously, there were plans to intensify consultations with a range of stakeholders, including Government agencies, academia, manufacturing companies, supermarkets, civil society and the general public.

The consultations were intended to raise awareness and encourage action across the country on the dangers of single-use plastics and littering, while addressing stakeholders’ concerns that would guide appropriate and effective decision-making on safe alternatives and fiscal incentives and policies for implementation.

The ban is intended to assist in managing natural

Single-use plastic bags are utilised regularly on a daily basis for various reasons

resources wealth, supporting economic resilience and building human capital; and favour a reduction in the overall waste stream and, concomitantly, a reduction in the cost of waste management.

Apart from positive environmental benefits like aesthetics improvement, the ban is hoped to lead towards the development of ‘green’ businesses and the creation of jobs in these areas, in keeping with the country’s gradual transition to sustainability.

The solution for combating plastic pollution is dependent on the alternatives available to rival single-use plastic which are both biodegradable and renewable.

As such, many stakeholders were encouraged to transition to the use of biodegradable and reusable products, such as reusable shopping bags and water bottles, while cutting out non-essential items such as plastic straws.

Globally, it is estimated that over 300 million tonnes of single-use plastic bags and other single-use plastic items are produced each year. Recent data indicate that plastic production from the 1950s has increased from two million tonnes per year to approximately 348 million tonnes per year.

With minimum recycling, the majority of this may end up in landfills, where scientists estimate that it takes hundreds of years to degrade, or in the oceans and other waterways, where it leads to flooding through clogged drainage systems, and negatively impacts marine life through entanglement, suffocation or being mistaken for food.

An International Coastal Clean-Up activity at the Kingston Seawall in 2018 showed that approximately 68 per cent of waste collected was single-use plastics.

16A

GUYANA CHRONICLE FRIDAY, APRIL 30, 2021