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NEW RULES: Pay your taxes first before you’re granted licenses, exemptions- Finance Minister

Opposition Leader, Bharrat Jagdeo was Friday afternoon riled by government’s announcement that Guyanese would first have to prove that they are paying their taxes before they are granted licences and tax exemptions. “This is a big brother kind of approach. The GRA (Guyana Revenue Authority) will now have a primary part in our lives once again. It is an old Burnhamite ...

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“Anti-poor, anti-development” – Jagdeo says “this budget cannot start the good life”

Mere minutes after Finance Minister Winston Jordan announced a GYD$230B Budget for 2016, Opposition Leader Bharrat Jagdeo says that the Budget is “anti-poor and anti-development.” Jagdeo at a press conference shortly after Jordan concluded his budget speech declared that some Guyanese are still confused and might still be trying to figure out what really happened in the National Assembly. He ...

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Finance Minister announces slight decrease in fuel prices

Government’s announcement of a reduction in fuel prices  from Monday, February 1 will now see consumers paying less than GYD$90 dollars off of a gallon of gasoline at the pumps of the state-owned Guyana Oil Company (GuyOil). In his 2016 National Budget presentation on Friday, Finance Minister,Winston Jordan  also announced that the price of diesel will be reduced by less ...

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Updated: Some license fees to increase – Finance Minister

Even as government increased the Income Tax threshold from GYD$50,000 to GYD$55,000, it announced that a range of fees would increased. In relation to public sector wages and salaries, Finance Minister Winston Jordan  did not announce a specific increase in wages and salaries because that would be subjected to negotiations with the trade unions. They include gun licenses. No specific ...

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Guyana among Caricom countries considering reducing reliance on T&T’s Petrotrin for oil supplies

Guyana is currently contemplating joining a list of other Caribbean countries in search of another fuel supplier in order to reduce reliance on Trinidad and Tobago, now that Venezuela’s PetroCaribe has dried up as a fuel sources. Speaking at the induction of the Board of the Guyana Energy Agency (GEA) on Thursday, Minister of Public Infrastructure, David Patterson said he ...

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Drought affecting agri sector

The drought has begun battering Guyana’s agriculture sector, forcing authorities to begin pumping water into the drying up conservancies. Briefing a high-level multi-sectoral meeting on the El Nino situation, Agriculture Minister Noel Holder said efforts would be made to pump water to support agricultural areas but also explore ways in which water can be retained in a controlled manner for ...

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Republic Financial Holdings Limited Records US$48.2 Million Profit

The Trinidad-headquartered Republic Financial Holdings Limited (RFHL) has recorded a profit attributable to shareholders of US$48.2 million, for the quarter ending December 31, 2015, the company said in a statement. This represents an increase of 3.1% over the corresponding period in 2014. Total assets of RFHL stood at US$10.3 billion at December 31, 2015, which, when compared with that of December ...

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Winston Brassington quits NICIL

Winston Brassington has given up his job as Head of the National Industrial and Commercial Investments Limited (NICIL), according to a Finance Ministry spokeswoman. She said Brassington’s contract expired on December 31, 2015 and he formally indicated that he would not be renewing it. That disclosure came hours after Demerara Waves Online News first reported that as of 20th January, ...

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