Private sector says political uncertainty affecting investments

The Private Sector Commission (PSC) Wednesday said it was concerned about Guyana’s current business climate given “the political uncertainty facing the country.”

The PSC, in a statement, said it had discussions with local and international businesses “who have expressed reservations in investing as the uncertainty continues.”

“There has been a reduction in Government and private sector contracts directly attributable to the uncertainty,” the PSC added.

The Commission said it is of the strong view that the expeditious resolution of the political situation will bring great relief to the business community.

“The Commission continues to be a strong advocate for enabling a business environment for national growth and development,” the PSC stated.

Opposition Leader Bharrat Jagdeo has moved to Caribbean Court of Justice – Guyana’s final appellate court – to challenge last Friday’s decision of the Court of Appeal, in which two of three judges invalidated the passage of the December 21 No Confidence motion on the grounds that 34, and not 33 votes, were needed.

The Commission called on the CCJ “to provide a prompt resolution to this matter so that both local and international organizations and businesses would again see Guyana as a country with boundless opportunities.”