GMSA welcomes positive-impact budget

The Guyana Manufacturing and Services Association (GMSA) has congratulated the PPP/C Government on the measures announced in its emergency budget, and expressed that it will impact various sectors in a positive way.

In an invited comment, GMSA’s President, Shyam Nokta said he believes that the allocations in the budget for the agro-processing, forestry, extractive, poultry and service industry – particularly telecommunications – will allow them to make significant contributions to the economy.
“We welcome the measures that have been identified. We [GMSA] recognised that the 2020 budget is being described as an emergency budget, but we welcome the measures that have been put forward, which will obviously impact in a positive way those sectors under the GSMA,” Nokta added.

On Monday, during a press conference, President Irfaan Ali outlined measures covered in the 2020 budget. As it relates to sectors falling under the GMSA, President Ali announced tax concessions for mining, agriculture and forestry; tax concessions in agro and cold storage capacities, among others.
Nokta, who was recently appointed a member on the Local Content Panel, related that once the budget is presented in Parliament on Wednesday, the GMSA will issue an in-depth analysis. The passage of the budget will be followed by debates. Guyana’s last budget to the tune of $300.7 billion was passed on December 14, 2018, by the then APNU/AFC Government.