The Guyana Manufacturing and Services Association (GMSA) Ltd. is hoping that with the recent announcement of the 30 per cent reduction in fuel prices by Government, that the Guyana Power and Light (GPL) will manifest these changes and cause a trickle-down effect in the rates charged by the power company in the foreseeable future.The GMSA, in a statement yesterday, said that the reduction is expected to positively influence the cost of production and operation of most enterprises in the Manufacturing and Services sectors in Guyana in the short term.This ministerial decision is expected to almost immediately address the cost of power for the companies that self-generate.“In the medium term, should world prices continue to fall, we expect that Guyanese products would be able to compete effectively with products from other Caribbean, North and South American countries. The new prices bring local retail costs for fuel within range of current prices in North American, European and other developed countries that were reduced recently in response to plummeting costs for crude and refined oils around the world,” the GMSA underscored.The Manufacturing Association explained that more than 60 percent of local manufacturers of food products,China Jerseys Wholesale, arts and craft, wood and metal value-added products and other consumables depend on the national power grid.“So too do the providers of hospitality,NFL Jerseys Authentic Cheap, health,David Njoku Jersey, air transport, shipping and other services.? The GMSA anticipates that lower fuel prices could,Cheap Sports Jerseys, in the medium to long term,Jerseys NFL Wholesale, enable local producers to market their products and services in the Caribbean and farther afield on a more competitive basis and to ultimately increase their market share. This of course, is predicated on the assumption that other major private suppliers of fuels across Guyana would implement the price reductions.”The GMSA had been calling on Government to put mechanisms in place that would ultimately lower production costs in the manufacturing and services sectors.? The Association’s primary concern was (and still is) the high cost of electricity,Cheap NFL Jerseys, the primary factor in most production processes, whether micro, small, medium or large.Prior to a recent announcement, the GMSA had already mapped out a proactive course of action to address the effects of recent changes in fuel prices around the world, and the concomitant adjustments that should be made in-country in keeping with the anticipated increase in trade, while remaining fully cognizant that the circumstances in the oil producing countries that brought about the lower prices are fluid.The Association intends to move forward with its programme of advocacy for improved conditions and services at the Customs Administration Department and related agencies.