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wednesday, july 3, 2013 | guyanatimesGY.com
bridge openings
The Demerara Harbour Bridge will be closed to vehicular traffic on Wednesday, July 3, from 14:00h to 15:30h. The Berbice River Bridge will be closed to vehicular traffic on Wednesday, July 3, from 11:05h to 12:35h.
Weather
Countrywide: Heavy rain showers are expected during the day, with clear skies in the evening over coastal regions and near inland locations. Temperatures are expected to range between 24 and 28 degrees Celsius. Winds: East north-easterly at 2.68 to 3.12 metres per second.
High Tide: 06:29h and 12:58h reaching maximum heights of 2.27 metres and 2.19 metres respectively. Low Tide: 06:29h and 18:48h reaching minimum heights of 0.95 metre and 1.01 metres respectively.
saturday, June 29, 2013
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Deepwater harbour a matter of priority – PSC
T
he Private Sector Commission (PSC) is calling for crucial infrastructural development, including a deep-water harbour to be addressed as a matter of absolute urgency. The commission believes that the broadening of the country’s economic base, the Brazil road, hydroelectricity and interior airstrips are critical to attracting valued-added investment and in order to reduce dependence on commodity price import and export. According to PSC Chairman Ronald Webster, over the last six months, global commodity prices for rice, sugar, bauxite and gold have fallen dramatically, in addition to the rise in fuel cost, corn and soya products; placing a burden on the economy. The PSC chairman said that the local economy has fortunately become more diverse, allowing for a certain amount of cushioning. “However, these external pressures will have an impact, regardless, and we must find a way to mitigate this impact and guard against accusations being bandied about that it is the fault of government or the opposition.” Webster mentioned that if such a situation is improperly handled, it can lead to chaos and unrest. He disclosed that 2012 was a flagship year for many businesses in the private sector, most of which achieved robust and unprecedented growth. Although, there was a slowdown earlier in 2013, most businesses recorded
some amount of progress and momentum which is projected to continue. There was impressive fiscal performance of 4.8 per cent growth in Gross Domestic Product (GDP) and increases in all the productive sectors with the exception of sugar. Webster said that had sugar broken even; the GDP growth rate would have been recorded at six per cent.
Faults
He faulted production downtime, poor yield and terrible prices as contributors to the ineffective functioning of the sugar sector. Webster stressed how critical it is for the sugar industry to develop a high level of efficiency in the long-term. Despite the slippages in commodity pricing, the World Bank has estimated that GDP growth will reach 5.1 per cent. Webster revealed that the taxes remitted to the Guyana Revenue Authority (GRA) by private sector companies amounted to $36.4 billion; which is 11 per cent more than 2012. “I again stress that Guyana is rapidly approaching the tipping point where continued economic growth can be stymied unless the planned capital programmes go forward as planned,” Webster emphasised. He said for this growth trend to continue into the future, along with private sector development, there has to be a very significant broadening of the economic base, increase in quality job creation, reduc-
PSC Chairman Ronald Webster
tion in migration of skills and access to and from export markets. Webster pointed out that this imperative, in turn, requires a quantum increase in infrastructural investments. He noted that the commission will continue to collaborate with government as an equal partner in the implementation the IDB-supported competitiveness programme, which was launched and conceptualised in 2006. Key programmes currently being undertaken with the involvement of the National Competiveness Council are interior airstrips, extension and rehabilitation, road links, the Demerara Harbour Bridge Project, Port Georgetown, and hydroelectricity. The council has met regularly to develop an action plan to improve the “doing business” index position in Guyana. Webster likened the country’s economy to a business which never plateaus, but rises and falls.
“We need to avoid it falling; at all cost,” the chairman said. Webster stated that politicians must realise that the median age of Guyanese is 24.6, which is lower than its Caribbean average of 30.5. “A high percentage of the population therefore is very young and only concerned about the here and now and having immediate contact with relatives locally and abroad through Internet and other means of communication. They do not have the academic interest in the history of political parties, but are caught up in their own utopia and role models, many of whom unfortunately have feet of clay,” he remarked.
Young professionals
Webster stated that there is nothing worse than young professionals who become disillusioned by so-called role models. The private sector community has collaborated with the Technical Vocational and Education Training Council in recognition of its role in skills creation. It has also partnered with the Board of Industrial Training (BIT) to submit proposals to the University of Guyana towards reviewing the curriculum to produce a more marketable workforce. The community also committed itself to working with the Canadian International Development Agency (CIDA) on employment projects which will seek to upgrade the employability of young graduates.