Gov’t’s development model aimed at generating sustainable wealth – President Ali

President Dr Mohamed Irfaan Ali has called out the propagandistic narrative being peddled by naysayers who seek to discredit the government’s efforts to bring transformational benefits to Guyana and its people.

“The type of analyses that I’ve been seeing are self-created to convey a message that the transformational benefit of the investment by the government is completely ignored in the propagandistic messaging of those editorials and those analyses,” he said.

President Dr Mohamed Irfaan Ali

In a live broadcast on Thursday evening, the Guyanese leader provided an overview of the government’s strategic model to support the short and long-term development of the country.

An integral portion of this model is the creation of sustainable wealth. The government has expended billions to fund initiatives that place disposable income into the pockets of ordinary Guyanese.

Initiatives such as financial assistance for dialysis patients, disability grants, and the ‘Because We Care’ cash grant have been instrumental in easing financial strains.

The PPP/C administration has also removed over 200 taxes, which includes the Value Added Tax (VAT) from essential services such as water and electricity.

Investments in infrastructure and housing also promote increases in the net value of assets, referencing the development of the Diamond Housing Scheme to demonstrate this point.

The property value increases with continued investment in transportation links and additional services and facilities.

“Over the last three years, the net present value of some of these properties would have increased by 25, or 30 per cent, and some as much as 50 per cent. Wealth is not only built-in salaries. Wealth is built on the net effect of the impact of policies and programmes. So, the net present value of your asset going up means that your personal wealth, [and] your household wealth also goes up,” he explained.  

He noted that many persons capitalise on this wealth, by investing in businesses or additional assets that they can use to generate income, and this is owed in large part to the creation of an enabling environment.

The head of state also cited the flagship Local Content Act, which prioritises Guyanese nationals and Guyanese companies in the procurement of goods and services. The act seeks to ensure that Guyanese have adequate access to opportunities to participate in the oil and gas sector.

“The purpose of government is to invest and create the opportunity so that the population can grow wealth. That is what policy formulation is about. This did not happen by accident. These were careful policies formulated and targeting and creating opportunities for the population to benefit from,” President Ali said.

According to the president, these investments will continue, as the government forges ahead with its resilient and careful approach to financial management that promotes transformational benefits to Guyana’s social and economic sphere.

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