{"id":15647,"date":"2024-01-19T14:56:21","date_gmt":"2024-01-19T14:56:21","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=15647"},"modified":"2024-01-19T14:56:22","modified_gmt":"2024-01-19T14:56:22","slug":"private-sector-commission-commends-government-for-people-centered-economic-transformation","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/private-sector-commission-commends-government-for-people-centered-economic-transformation\/","title":{"rendered":"Private Sector Commission Commends Government for People-Centered Economic Transformation"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>The Private Sector Commission (PSC) has expressed its appreciation for Budget 2024, commending the government for its commitment to sustainable and people-centered economic transformation. <\/p>\n\n\n\n<p>PSC Chairman, Komal Singh, highlighted the positive measures announced in the budget, particularly addressing the challenges faced by small and medium-sized enterprises (SMEs) in accessing finance.<\/p>\n\n\n\n<p>Budget 2024 allocates $450 million for the replenishment of the Small Business Development Fund and $331 million to the Small Business Bureau. <\/p>\n\n\n\n<p>According to Singh, this financial support will significantly contribute to the development of small and micro-businesses, fostering entrepreneurship and economic growth.<\/p>\n\n\n\n<p>Singh acknowledged the government&#8217;s decision to raise the income tax threshold to $100,000, resulting in approximately 13,000 employees from the private and public sectors being exempted from paying income tax. <\/p>\n\n\n\n<p>This move is expected to provide relief to a considerable number of workers and stimulate economic activity.<\/p>\n\n\n\n<p>In addition, the budget outlines plans to disburse 100 loans, issue 1,362 grants, and engage 2,800 business owners in training programs. <\/p>\n\n\n\n<p>These initiatives aim to empower entrepreneurs, enhance business capabilities, and promote economic inclusivity.<\/p>\n\n\n\n<p>The Private Sector Commission views these measures as commendable and believes they align with the broader goal of achieving sustainable economic development in Guyana. <\/p>\n\n\n\n<p>The emphasis on supporting SMEs reflects a commitment to fostering a resilient and dynamic private sector that can drive economic progress.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Private Sector Commission (PSC) has expressed its appreciation for Budget 2024, commending the government for its commitment to sustainable and people-centered economic transformation. PSC Chairman, Komal Singh, highlighted the&hellip;<\/p>\n","protected":false},"author":4,"featured_media":15648,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,366,350],"tags":[],"class_list":["post-15647","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-local-development","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=15647"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15647\/revisions"}],"predecessor-version":[{"id":15649,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15647\/revisions\/15649"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/15648"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=15647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=15647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=15647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}