GEORGETOWN, Guyana, CMC – The Private Sector Commission (PSC) has come out in support of the Amaila hydro project that the Guyana government said would result in a 40 per cent reduction in the importation bill for fuel and provide more disposable income in the pockets of consumers.
The Guyana government has been critical of the opposition parties in Parliament, after they used their one seat majority to block passage of legislation to finance the project.
Last month, Finance Minister Dr. Ashni Singh said that the passage of Hydro-Electric Power (Amendment) Bill as well as the accompanying motion to increase the guarantee limit of loans, from GUY$1 billion to $150 billion (One Guyana dollar = US$0.01 cents) was necessary to ensure the continued development of the country.