Keeping internet rates down also part of addressing cost of living woes – Jagdeo

Vice President Dr. Bharrat Jagdeo, at a press conference on Thursday, outlined significant strides the government has made in easing the cost of living for citizens.

Dr. Jagdeo focused on recent developments in the telecommunications sector as a key example of these efforts. He said that since the current administration took office in 2020, the cost of mobile data has remained stable if not decreased.

Previously, consumers could purchase around four gigabits for $3,000 to $5,000. Now, Jagdeo said, for the same amount of money, users receive ten times the data allocation. This substantial improvement is attributed to the government’s decision to liberalize the telecommunications sector, a move that had been stalled by the former APNU+AFC government. Jagdeo singled out former Minister Cathy Hughes and said she took no action despite enabling legislation passed in 2015.

The Vice President suggested that the delay in implementing these reforms might have been influenced by corruption, though he provided no specific evidence. Nonetheless, the liberalization has led to more affordable and expanded data services, benefiting both individual consumers and businesses. For instance, the bandwidth available through fiber optic connections has increased from 10 megawatts for approximately $9,000 to $10,000 to between 200 to 600 megawatts for the same cost.

Dr. Jagdeo emphasized that reducing internet costs is part of a broader government strategy to alleviate living expenses. He highlighted that, in addition to telecommunications, the administration has managed to stabilize other critical costs. These include mortgage rates, electricity prices, fuel and transportation costs, and water rates. He acknowledged that while food prices have risen, government policies have successfully kept other essential costs in check despite global economic fluctuations and the impacts of the COVID-19 pandemic.

The Vice President reaffirmed the government’s commitment to addressing the cost of living and ensuring economic stability for all Guyanese.