By Samuel Gillis
The Georgetown Chamber of Commerce and Industry Limited (GCCI) has reiterated its support for the government’s gas-to-energy project, emphasizing its potential to stimulate economic growth.
In a press conference held today, several top executives and past presidents of the Chamber affirmed their backing for the initiative.
The GCCI’s endorsement comes amidst ongoing discussions regarding the financing of the gas-to-energy project, particularly with the delay in finalizing the loan from the US Exim Bank.
Recently, the Chamber conveyed its support to the US Exim Bank, underscoring the importance of financing for the project’s advancement.
President of the GCCI, Kester Hutson, addressed the media, highlighting the project’s manifold benefits for both the business sector and the populace at large.
Hutson emphasized the long-term positive impact of the project, extending benefits to future generations.
Meanwhile, Senior Vice President of the GCCI, Richard Rambarran, provided insights into the Chamber’s stance, emphasizing that it was based on an independent analysis of publicly available information and extensive engagements with government agencies.
Rambarran, who also chairs the Petroleum Committee of the GCCI, asserted that the project’s advantages far outweigh any potential drawbacks.
He characterized opposition to the project as anti-national and anti-development.
Rambarran further underscored the urgency of addressing electricity challenges in Guyana, noting that a significant number of investors delay their investment decisions due to these challenges.
The gas-to-energy project, he argued, offers a solution to this longstanding issue and could enhance the country’s attractiveness for investment.
Former President of the Chamber, Clinton Urling, echoed sentiments in support of the project, emphasizing its potential to provide cheaper and more reliable electricity to consumers, both households and businesses alike.