Oil-fuelled growth offers “abundance of opportunity” for those willing to work – Komal Singh

…urges Guyanese to embrace multiple jobs as economy booms

As Guyana’s economy surges on the back of oil and gas, Former Chair of the Private Sector Commission (PSC), Managing Director of GAICO Construction Incorporated, Komal Singh is urging citizens not to shy away from hard work, even if it means taking on multiple jobs.

According to Singh, the ripple effect of Guyana’s dynamic transformation, driven by oil and gas, infrastructure and private sector expansion has seen a growing trend of Guyanese working multiple jobs, reflecting both the resilience of the workforce and the momentum of the expanding economy.
During an appearance on this week’s edition of the Starting Point podcast, he noted that is creating a demand for skilled and ambitious individuals and those willing to put in the extra work are positioning themselves for long-term success.
“The economy is creating an opportunity and an environment where our people can earn more money for themselves. And I hear people talk sometimes about, you know, why do a second job? I can ask you the same question. When you land in New York, you do three jobs to survive. So why can’t you do the same thing here? If you have a growing economy and a developing economy, you will obviously see a lifestyle change. And if you look back at yourself or myself, you know, the last five, 10 years, we all have lifestyle change. But if you want a lifestyle change, you must also be willing to work extra hours to satisfy the lifestyle change,” Singh said.
This year, the Government introduced measures in Budget 2025 to support employees who go beyond the traditional eight-hour working structure.
The Government introduced a non-taxable allowance for the first $50,000 earned from overtime work and second jobs. The booming oil and gas industry, which has been long considered the top-paying sector in Guyana has become a magnet for talent, draining labour from construction and retail.
While Singh applauds this shift for what it means for workers, which includes more income, more spending power and upward mobility, he acknowledged that small and medium-sized businesses are increasingly under pressure.
“Because of the high demand right now, you find a lot of private sector companies now need to compete and match those salaries…And if you don’t, you can’t retain your employee. Because of that, a lot of people who are not skilled or have the right skill set is now, you know, getting into the private sector environment and we now need to start training.”
“I just love it that our workers now can earn more money. They will have more disposable income, so they could better themselves, you know, in terms of their lifestyle. But it’s also having a negative impact on businesses. Take these businesses on Regent Street, for example. Sooner or later, they will no longer have those workers. As long as those workers start getting the willpower that they want to move out from that relaxing environment and go there and work and earn double the salary, those small businesses will start having some challenges, all right, because of the high salary cost,” he explained. During his tenure as Chairman of the PSC, Komal Singh had challenged the narrative of persistent poverty in the midst of Guyana’s booming economy. Singh, who led the PSC during a period of historic economic growth, issued a bold public invitation to any Guyanese claiming to be trapped in poverty. Highlighting that the nation’s growth is not merely fueled by oil revenues but by a broad spectrum of industries ranging from agriculture to forestry, Singh encouraged youths to capitalise on Guyana’s economic growth.
“Across the length and breadth of Guyana we have seen over the years pockets of videos coming out where people are saying that they are living in poverty. I can understand people living in poverty if there is no opportunity but, in a country, where there is an abundance of opportunity I and I am challenging anybody out there publicly who tell me they’re living in poverty come to me; I’ll take you out of poverty within one to six months,” Singh declared, underscoring the statement with a firm belief that Guyana is brimming with opportunity for those willing to work,” the former Chairman said at the time. Nevertheless, Singh was quick to note that escaping poverty requires personal drive and a willingness to put in the effort. In fact, he called on Guyanese to remain optimistic and united as the country surges ahead.
“You cannot come out of poverty if you within, don’t want to come out of poverty. There is a wonderful opportunity ahead of us in this country, let us all work towards building our goals and reaching our goals and improving our family life for the betterment of this country,” he added.