Private Sector Commission

Finance & Economics

Chairman: Ramesh Persaud

Terms of Reference

  1. Liaise with Government on matters in finance and economics of importance to the PSC membership, the wider private sector and the country.

  2. In collaboration with the Technical staff of the PSC, develop and articulate to the Council policy positions of the PSC on issues of national importance in finance and economics.

  3. Liaise with the Trade and Investment Sub-Committee on all matters related to finance and economics which have a bearing on competitiveness.

  4. Liaise with Bilateral and Multilateral donors on matters of finance in relation to the PSC and the private sector.

  5. Develop policy recommendations on fiscal reform, investment guide/code, anti-smuggling reforms, value for money audits, etc for consideration and adoption by Council.

  6. Continuously examine ways and means, and propose policies directed at fostering a more robust and competitive financial sector.

  7. Develop proposals for inclusion in the national annual budget; review annual budget presentations and evaluate the national budget performance against targets.

  8. Provide support to the PSC with the monitoring of the implementation of the NCS and its impact on Private Sector development.

  9. Promotes Corporate Governance

Members of the Sub-Committee

The Sub-Committee should seek to attract members who can contribute to the areas that fall under its ambit.   Such members may come from the following organizations:

  1. Private Sector Commission

  2. Heads of similar Sub-Committees from PSC Sectoral Members

  3. Organizations or Persons (approved by the sub-committee) who do not come from organizations listed in items 1-3 above, but have the appropriate skills that can be used by the sub-committee. 

Modus Operandi

  1. The Committee should meet at least once every two months on a scheduled basis.

  2. The agenda for the scheduled meetings will be prepared in advance by the Executive Director (ED) in consultation with the Chairman and mailed to the members along with the notes/minutes of the last meeting at least five working days before the meeting.

  3. The Council shall appoint the Chairman on the Sub-Committee.

  4. Unscheduled meetings can be called by the Chairman via the ED or his representative to address specific emergency issue(s).

  5. The Quorum for any meeting shall be of no less than four persons including the Chairman.

  6. In the absent of the Chairman, the members present shall elect a Chairman for the meeting for that day.

  7. All recommendations made by the committee shall be ratified by the Council before being dispatched to the relevant authorities or implemented.

  8. In the event that the recommendation(s) cannot wait for the Council meeting, the Chairman with the assistant of the ED can round-robin the recommendation(s) and seek approval to forward the recommendation to the relevant authorities subject to ratification by Council at the earliest meeting.

  9. The Chairman with consensus from members may invite person(s) from related organizations to attend a meeting as a guest speaker or advisor on the topic for discussion.  

  10. The taking of notes at the meetings is the responsibility of the ED or staff delegated to do so.    

Working Relationship 

The following are the primary organizations with which this sub-committee will interface.

  1. Private Sector Organizations

    • All Private Sector Sectoral Organizations

    • All Chambers of Commerce and Industries

    • All Companies and Organizations

  2. Public Sector Organizations

    • The Bank of Guyana

    • The Ministry of Finance

    • The National Competitiveness Strategy Unit

    • Go-Invest

    • Guyana Revenue Authority

 

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