Infrastructure, taxation on list of PSC recommendations for 2017 budget

Nov 12, 2016 News

Private Sector Commission (PSC) member Ramesh Dookhoo has said that some of the recommendations which the body made to Finance Minister Winston Jordan for the 2017 budget, focus primarily on infrastructure, taxation and incentivising various sectors.
During a recent interview, Dookhoo explained that “as you know a number of crucial sectors in the country have performed at a reduced level than they did in 2015. So we did make recommendations on how to stimulate those affected sectors”.
Dookhoo said that the PSC meets with the Finance Minister every quarter of the year and he has received the Commission’s recommendations. He said that it is expected that deliberations will follow in the coming days to discuss the suggestions made.
He said that the PSC is also considering making public the complete document outlining all the recommendations which were made to the Minister.
Involvement of the Private Sector in the 2017 budget was mentioned by President David Granger during his address to Parliament, where he informed the House that fiscal, environmental and institutional sustainability will be the pillars of the 2017 budget.
He had said that incentives would be offered to the private sector to follow the government’s lead in developing the renewable energy sector.
“We will graduate our economy increasingly towards greater renewable energy use across all sectors of Guyana. Government buildings will be powered, eventually, by renewable energy sources and will utilize energy-efficient technologies. Incentives will be offered to the private sector to follow government’s lead,” the Head of State asserted.
The 2017 budget is expected to be presented in several weeks.
According to the President, the budget will reflect the harmonization of the Sustainable Development Goals with government’s national development plans, particularly in the social sector. Granger said that preparations for the 2017 budget began several months ago and has been characterised by an inclusive and consultative process.
The budget is also expected to stimulate the agricultural sector in developing a more diversified and climate-resilient sector. Some of the projects which are to be financed include mega farms in the Immediate and Rupununi savannahs, promoting the expansion of non-traditional agricultural production such as coconuts, fruits and spices; and promoting the increase of aromatic rice production, which will add to crop production in the rice sector at a higher end of the value chain.

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Infrastructure, taxation on list of PSC recommendations for 2017 budget

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