分类： business

On Wednesday, 28 October 2026, newly updated reporting outlines a sharp policy dispute in Guyana over surging cost of living pressures, as Opposition Leader Azruddin Mohamed reignites a push for government-mandated price caps on essential consumer food items, a proposal that has been categorically rejected by the Georgetown Chamber of Commerce and Industry (GCCI).
Mohamed first floated the price control proposal during his 1 May 2026 Labour Day address, and reaffirmed the demand at a recent press conference, arguing that targeted price regulation should be rolled out at major supermarket chains across the country. He specifically criticized large retail operators such as Massy for imposing exorbitant markups on staple goods, insisting that retailers must voluntarily reduce their profit margins to ease household financial strain, while also calling for government ministers to end unfair commercial competition with small local suppliers. Mohamed, a former major gold exporter who, alongside his father, was hit with U.S. government sanctions in June 2024 over alleged gold-linked tax evasion, also pointed to the country’s crippling foreign currency shortage as a core driver of runaway consumer costs, noting that local business owners seeking to process a US$20,000 wire transfer at domestic banks are now forced to wait two to three weeks to complete the transaction. He emphasized that Guyanese households should be enjoying far greater economic stability given that the nation generates roughly GY$8 billion in daily revenue from crude oil sales, which are split between the Guyanese government and its international industry co-venturers ExxonMobil, Chevron, and China National Offshore Oil Corporation.
In an official public statement that did not explicitly name Mohamed but directly addressed his policy proposals, the GCCI issued a forceful rebuttal of broad price control measures, warning that top-down price caps would severely distort existing market dynamics, fracture fragile cross-border and domestic supply chains, reduce the availability of essential goods, and ultimately drive up operational costs for both local businesses and end consumers. The chamber stressed that skyrocketing retail prices are not primarily fueled by excessive corporate profit margins, but are shaped by a complex web of overlapping external and domestic factors: volatile international commodity rates, soaring freight and transportation costs, widespread limited access to U.S. dollars, rising local production expenses, and layered distribution overheads. The organization noted that framing high prices as a product of corporate greed without full analysis of these interconnected cost drivers is deeply misleading.
While the GCCI aligned with Mohamed’s assessment that resolving the national foreign currency shortage is a critical priority to ease cost-of-living pressures, it outlined a far broader, multi-pronged policy roadmap as a viable alternative to price controls: expanding foreign currency access for registered importers, revising punitive import duties and tariffs that artificially inflate commodity costs, streamlining logistics to cut freight and distribution fees, scaling up domestic agricultural output to reduce reliance on imported staples, and implementing policy reforms to foster greater competitive dynamism in the local retail market. The chamber explicitly stated that arbitrary price restrictions that fail to address the root structural costs of supplying goods will only create new, unforeseen market crises. It clarified that the organization does not endorse predatory price gouging, exploitation of supply shortages, or anti-competitive commercial behavior, and argued that all concerns about unfair pricing practices should be resolved through existing formal regulatory channels, rather than blanket price intervention. The GCCI concluded that any meaningful policy to improve affordability for Guyanese households must center on reducing the underlying costs of bringing essential commodities to market, rather than imposing arbitrary caps on final retail sale prices. The national government has already launched a series of farmers’ markets across the country as a targeted intervention to eliminate exploitative middleman networks and drive down costs for a range of locally produced staple items.

Georgetown, Guyana – 28 October 2026: A landmark strategic collaboration between the World Trade Centre Georgetown (WTCG) and News Talk Radio 103.1 FM will bring a purpose-built, state-of-the-art broadcast studio to the WTCG premises, the local radio broadcaster formally announced in an official public statement this week. The newly established facility is set to vastly expand the station’s programming portfolio, doubling down on targeted content focused on business development, formal and informal education, grassroots entrepreneurship, timely current affairs, and hyper-local community issues, while retaining the beloved entertainment lineup that has earned the station a loyal nationwide listener base. Representatives from News-Talk Radio Guyana Inc. explained that the co-located studio will function as a centralized, accessible hub for dynamic, audience-centric content that mirrors the rapid social and economic transformation underway across Guyana. Designed to serve a broad cross-section of stakeholders – from early-stage entrepreneurs, seasoned industry professionals, and domestic and international investors to school and university students and the general public – the space will deliver a carefully curated mix of actionable informational resources, educational segments, and lighthearted entertainment tailored to local needs. The partnership framework explicitly acknowledges radio’s enduring, underrecognized value as a unifying public medium that bridges disconnected communities, disseminates verified, reliable information, and unlocks tangible economic opportunities, even amid the widespread shift to digital and social media platforms. Surendra Dhanpaul, Managing Director of News Talk Radio, outlined that the station’s core mission through this new initiative is to act as a proactive catalyst for nationwide entrepreneurship and inclusive economic growth, at a moment when Guyana’s national economy is experiencing unprecedented expansion. “As our country’s economic landscape evolves at a remarkable pace, we are positioning this station to be a leading driver of domestic commerce through targeted, practical business-focused programming,” Dhanpaul stated. “There is a vast universe of viable professional and entrepreneurial paths beyond social media influencing, and in partnership with resources like the Guyana Development Bank’s small business loan schemes, we want to add tangible value to the ambitions of every person with a business dream. Whether that means walking audiences through the nuances of different business legal structures, teaching practical cash flow management and basic accounting skills, or demystifying how to leverage radio and other local platforms for effective marketing, our goal is to help every listener make their capital work for them as they scale alongside our community.” Dhanpaul emphasized that while business and educational content will form a central pillar of the new studio’s output, the lineup will continue to feature vibrant, culturally relevant entertainment and lifestyle programming curated specifically to reflect the diverse interests of Guyanese audiences. He also noted that trusted, community-rooted local media has grown more critical than ever in an era rife with misinformation. “In today’s digital landscape, where distinguishing verified facts from fabricated content has become an increasing challenge for ordinary people, radio occupies an irreplaceable niche as a source of consistent, accurate public information,” he explained. Dhanpaul added that a growing share of audiences are experiencing widespread “AI fatigue” from algorithm-driven, synthetic content on mainstream social media platforms, and are actively seeking out authentic local voices and unscripted, genuine human connections that terrestrial radio reliably provides. The station has also spent the past two years building robust cross-border connections with Guyana’s large global diaspora, forging formal partnerships with terrestrial and internet radio outlets in the New York Tri-State area and Miami to create shared content streams that connect Guyanese residents at home with their communities living overseas. Dhanpaul noted that this cross-border network was a personal vision he first developed back in 2010, and seeing it fully realized alongside the new WTCG studio has been deeply rewarding for his team. The new on-site broadcast space at WTCG will also create dedicated, open access opportunities for local business owners, industry subject matter experts, community leaders, educators, and emerging entrepreneurs to share specialized knowledge, discuss newly emerging market opportunities, and engage directly with listening audiences across a wide range of topics spanning business development, financial literacy, cultural heritage, entertainment, public health, emerging technology, and local community governance. The partnership is also projected to significantly improve the station’s on-the-ground coverage of major business events, international trade opportunities, professional development workshops, and policy issues that directly shape Guyana’s long-term economic trajectory. By delivering a carefully balanced blend of actionable information and accessible entertainment, the expanded programming lineup aims to inform, educate, inspire, and actively engage listeners in every region of the country.