PSC calls for improvement to already strict regulations businesses adhere to

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Dozens of local businesses Wednesday morning recommitted to the principles of good corporate governance as selected employees came together for a joint breakfast seminar at the Marriott Hotel in Georgetown.

The seminar was organized by the Private Sector Commission of Guyana (PSC) and the Caribbean Corporate Governance Institute (CCGI).

Delivering opening remarks at what is the first of a series of joint corporate governance events in Guyana was PSC Vice Chair Desmond Sears.

He said this seminar and the events to follow redefines the PSC’s commitment to addressing national issues which seek to promote socio-economic growth.

“I am positive that this seminar will be useful… the PSC has been a strong advocate for good governance,” he said.

He reminded of a corporate governance code which was developed by the PSC and the Government back in 2011, saying it was built on international principles which seek to facilitate prudent management of a business.

This, in turn, will translate to the success of the business and its continued existence which will also support economic growth.

“We need to realize that corporate governance is more of a culture and not simply a framework to follow. Large companies come to Guyana and engage the PSC and want to know of our corporate governance and governance as a whole. ”

The PSC Vice Chair believes that while there are already strict reporting and regulations, there is still need for improvement.

He said he PSC welcomes the enactment of laws in keeping with good governance, reminding that cases of bad governance can cast doubt on the business environment in any country.

Global Expert on Good Governance, Alison Dillion Kibirige with over 25 years of experience, is facilitating the key address at the breakfast seminar.

Kibirige engaged participants in the deliberation of practical aspects of doing good governance in organizations.

“Governance is a very practical subject, although it is often associated with laws and regulations.”

The series of joint corporate governance events in Guyana will be held under the theme “The Role of the Director in Good Governance, leading with a progressive perspective.”

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