Business

The National Industrial and Commercial Investments Limited (NICIL), the holding company for government’s assets, will be asked to return the closed sugar estates to the state-owned Guyana Sugar Corporation (GuySuCo) which will be reopened after a review is done, Agriculture Minister Zulficar Mustapha said Tuesday. “In terms of the timeframe for reopening the closed sugar estates, first of all GuySuCo ...

Minister of Agriculture Zulficar Mustapha on Tuesday said he has asked the Guyana Rice Development Board (GRDB) to provide details about 1.5 tons of cocaine that German authorities said were found stashed in a sacks of rice from Guyana. Mr. Mustapha expressed concern that the drug find would taint the image of rice, one of Guyana’s main exports. “I am ...

Deputy Head of Guyana’s Customs Anti-Narcotics Unit, Lesley Ramlall on Tuesday said local drug agents have launched a major investigation into Germany’s bust of 1.5 tons of cocaine  in a consignment of rice that German authorities said originated in Guyana. Mr. Ramlall said he has already asked the Guyana Revenue Authority (GRA) for records of all rice shipments to Europe ...

The newly-elected Guyana government would be making a decision by month-end on the Payara oil field that could pave the way for ExxonMobil to issue its Final Investment Decision (FID) on moving to the production-development stage, Minister of Natural Resources Vickram Bharrat said. “We are hoping to resolve the Payara issue very soon…I would say by the ending of this ...

Guyana’s President Dr. Irfaan Ali and the President of Suriname on Sunday announced the agreed to set up an action-oriented mechanism to push infrastructural development and private sector-led  investments in both neighbouring South American countries. Mr. Santokhi said he and his Guyanese counterpart are confident and committed that “we can do it jointly” and “guide it personally” President Ali said ...

President Dr. Irfaan Ali on Saturday announced a GYD$4.5 billion COVID-19 household relief programme and high-tech laboratory equipment to increase testing of people for the coronavirus that has already killed more 20 people in Guyana. “We have commenced work on securing immediately an initial sum of $4.5 billion as emergency response to help at the household level,” he told a ...

A four-man team of financial and accounting specialists that was appointed to conduct a rapid assessment of 19 named government agencies is working free of cost. “To help us do some of the assessments of how bad or how good things are in this country, we have established a rapid assessment team who are working pro bono (without charge),” said ...

Attorney General, Anil Nandlall on Friday said land leases issued since the passage of the no-confidence motion on December, 2018 would be reviewed. Mr. Nandlall explained that with immediate effect a review of all leases, licenses and permissions to occupy Public Lands,granted since December 21,  2018, will be conducted.  The  AG said this is in the context of that the ...

The Competition and Consumer Affairs Commission (CCAC) is advising members of the public to be wary of Pyramid and Ponzi schemes which are disguised as legitimate investments. The warning from CCAC is being issued in the wake of several enquiries made to the Commission about the investment “scams”. “The Commission has also been told of approaches made to persons with ...

-owner demands rent from new gov’t or removal  The Infectious Disease Hospital at Liliendaal, East Coast Demerara is not owned by Guyana although a compulsory acquisition order was gazetted and GYD$1.6 billion of taxpayers’ money was spent on converting Ocean View International Hotel into the health care facility, Attorney General Anil Nandlall said. Mr. Nandlall said the National Industrial and ...