Outgoing Chairman of the Private Sector Commission (PSC), Komal Singh during his final address at the Commission’s 33rd Annual General Meeting on Tuesday, challenged the narrative of persistent poverty in the midst of Guyana’s booming economy.
Outgoing Chairman of the Private Sector Commission (PSC), Komal Singhh
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 capitalize 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.
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.
Meanwhile, Senior Minister within the Office of the President with responsibility for Finance and Public Service, Dr Ashni Singh highlighted that Guyana has, for the first time in its post-independence history, been rated as having a low risk of debt distress.
This major milestone comes as Guyana continues to expand oil production and build fiscal buffers through the Natural Resource Fund (NRF), which, according to the latest debt sustainability analysis, has already grown large enough to fully cover the country’s external debt.
Dr. Singh called on the private sector to seize the moment and invest with confidence, assuring them of continued partnership and policy stability, noting that government will continue to build a business-friendly climate for private sector stakeholders.
“You have in this government, a government that I believe has demonstrated over the long term, a demonstrated track record of responsible economic management. You have in this government, a government that has demonstrated over the long term, a commitment to working with the private sector, to ensuring that we create an environment that is conducive to your investments being made and your businesses growing, earning a rate of return, creating jobs and generating incomes for the Guyanese people,” Singh said.
