GMSA welcomes new measures to cushion rising cost of living

The content originally appeared on: INews Guyana
GMSA President Rafeek Khan

See full statement issued by the Guyana Manufacturing and Services Association (GMSA):

The Guyana Manufacturing and Services Association (GMSA) lauds the ongoing relief efforts provisioned by the Government of Guyana to alleviate the exponential rise in the cost of goods.

The imbalance of supply and demand for goods and services along with the persistent challenges of global freight costs continues to result in daunting impact to the business community and households alike.

Agriculture: The injection of $1B in fertilizer which will be distributed cross-country to farmers at no cost, assures of the Government’s commitment to strengthening the resilience and sustainability of the Agriculture Sector. Agriculture continues to be a major contributor to Guyana’s economic development. This effort will also add scope to farmers who are contributing to exports as Guyana continues along the trajectory of transforming the agriculture sector in CARICOM.

Construction: Access to affordable and adequate housing will undoubtedly improve the standard of living for Guyanese. The commissioning of the Special Unit to assist potential homeowners with the application and financing process to obtaining a home, the construction assistance facility, and the removal of VAT on sheetrock and concrete boards will especially afford low to middle income earners the opportunity to own their own homes. The removal of VAT on basic construction materials will also assist the Construction Sector’s operational costs immensely as the expanding Oil & Gas Sector necessitates the increased availability of housing in Guyana.

The GMSA commends the Government for the provision of all measures extended and commits to working collaboratively to the benefit of the business community, citizens and stakeholders in bringing relief to the associated rise in the cost of living.

The GMSA further looks forward to additional innovative ways to manage the effects of inflation in Guyana.