Berbice business community pleased with Budget 2022

By Andrew Carmichael

Sections of the Berbice business community have commended the 2022 national budget proposals which were presented to the National Assembly on Wednesday by Senior Minister with responsibility for Finance, Dr Ashni Singh, saying that it will benefit the entire society.

By far New Amsterdam is the oldest town in Guyana and is considered the capital of Region Six which has two other towns, but over the past decade, development in the town has not been at the same rate as some of the other parts of the country.
Against this backdrop, business persons are of the view that while the budget is Guyana’s largest, persons must take advantage of the opportunities which will be created as a result of what is being provided in the proposed budget.
Chief Executive Officer for A Ally and Sons, Fizal Alli is of the view that the 2022 proposed budget is one that is likely to bring benefits to persons throughout the country.

According to Ali, with increases in old age pensions and public assistance, it would provide more money to the economy. He is of the view that when more money is in the economy there will be a better standing of living for Guyanese generally. However, while referring to the budget as a good one, Ali said he would have liked to see the threshold be taken a bit higher and pensioners receive more money.
Meanwhile, businesswoman Samantha Reid referred to the budget as being historical and ground-breaking. She noted that it is a very exciting time to be a Guyanese. She said the budget proposals reveal an economic revolution for Guyana this year as the country will be on a trajectory for rapid growth in infrastructure, agriculture, healthcare, and sports.
“The budget is in tandem with the Local Content Bill as well as the Natural Resource Fund. The budget not only caters for the oil sector but it caters for all sectors. I am eagerly waiting to see the $5 billion that has been allocated for the vulnerable groups in society,” she said while making mention that the Ministry of Sport also has huge sums allocated in the budget this year.
“The budget also allows for economic growth for young entrepreneurs, young people; everybody that is a Guyanese that is here. It focuses a lot on local content even with the reduction of taxes and the school children grants – everybody has something to get from this budget,” Reid said.

Businessman Tule Persaud Udit believes if implemented, the proposals as outlined in the budget will help to boost the economy.
“Especially the cash grant and uniform voucher will help the children. I believe that this will help them boost the economy and put money back into the hands of the working-class people and also the business people would also be benefiting. I think it is a very good budget,” he said.
President of the Berbice Chamber of Commerce and Development Association Ryan Alexander explained that several of the proposals outlined by Dr Ashni Singh were proposed by the Private Sector.
“When we spoke about the initiatives that should be in the budget, we couldn’t say if they were already in the budget or if it was some of the things that we put forward and he studied and decided to incorporate into the budget. We are happy as a Private Sector and the Berbice Chamber of Commerce by extension, to see a budget that [provides] opportunity across the board for all and in all the sectors.”
Alexander is of the view that old age pension could have been further increased but nevertheless, said that he is looking forward to incremental increases in future budgets for pensioners, admitting that there are indirect financial benefits for that section of the society.
“We all know that the Private Sector is the engine of growth and the engine of growth is the arm that provides employment. We have always been touted as the biggest employer in Guyana. Once there are opportunities to enhance and create more business in the country, we will see automatically a need for more labour force – human resources, which is job creation and this would allow persons to be earning. And that is a good sign. I guess that with the local content law in place, the budget has been so tailored to ensure local capacity is ramped up,” he added.

Opposition
Meanwhile, politician and religious leader Phillip Rose, while noting that the budget proposals give prospects of a great transformation for Guyana, said he wants to see the Opposition – APNU/AFC – act as opposition for all Guyana and not for any particular ethnic group.
He said the budget proposes to provide benefits for the working class and looks forward to trade unions meeting with the Government as it relates to salary increases which were not mentioned in the budget proposal presentation.
“Let the Unions be involved because it is time now for them to act on behalf of the public servants. However, most public servants have children and the other packages for the children will benefit public servants.”
Rose said everyone should be pleased that there are no new taxes in the budget.
“This is a hallmark of the People’s Progress Party Government, not putting on new taxes on the poor people.”