Private Sector Commission in ‘crucial discussions’ on labour shortage ahead of 2024 national budget

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See the full statement issued below:

The Private Sector Commission (PSC) convened a pivotal meeting with the Senior Minister within the Office of the President with responsibility for Finance, Dr. Ashni Singh, to deliberate on a wide range of fiscal measures and policy issues essential for the sustained growth and development of Guyana.

The discussions revolved around the current labour market mismatch in the economy, a significant concern for both the private sector and the government. The Private Sector Commission (PSC) stressed the urgent need for collaborative efforts between the public and private sectors to address this issue and ensure the smooth functioning of businesses. Mr. Singh, Chairman of the PSC, underscored the importance of a joint approach, expressing the private sector’s recognition of the gravity of the labor shortage and its potential impact on the economic landscape. The PSC believes that working closely with the government will enable the formulation and implementation of effective strategies to mitigate challenges and promote a thriving business environment.

The meeting also provided a platform for fruitful discussions on fiscal measures and policy issues that are pivotal for the sustained growth of the economy. Both the private sector and government officials engaged in constructive dialogue, emphasizing the need for policies that encourage investment, innovation, and job creation.

Looking forward with optimism, the Private Sector Commission expressed its deep anticipation for the upcoming presentation of the national budget on January 15th, 2024. The collaboration between the government and the private sector is seen as a driving force propelling Guyana on its growth and development trajectory.

The Private Sector Commission remains steadfast in its dedication to fostering a conducive business environment, promoting economic growth, and working collaboratively with the government to overcome challenges and seize opportunities.

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