Business

The United Kingdom-headquartered auditing and financial services company, PricewaterhouseCoopers (PwC), has been selected to conduct a valuation of assets of the state-owned Guyana Sugar Corporation (Guysuco). The announcement was made Thursday by the Special Purpose Unit (SPU) under the National Industrial & Commercial Investments Limited (NICIL), Thursday announced that PricewaterhouseCoopers (PwC) has been selected by the SPU. The international financial services provider ...

As details emerge in the National Assembly about plans to pay severance to sacked sugar workers and lease them land, the Alliance For Change (AFC) Thursday night called for much more than that. “The AFC looks forward to an amicable resolution to this issue, but insists that as the Yuletide season is upon us, workers must not be adversely affected ...

Minister of State, Joseph Harmon on Thursday announced that a “huge chunk” of money has been set aside in the 2018 National Budget to pay severance to thousands of workers of the state-owned Guyana Sugar Corporation (Guysuco). He made the announcement during the penultimate day of budget debate before the 65-member National Assembly considers the proposed expenditures next week. “In ...

Small business development is next year set to receive a GY$148 million boost to help them set up shop and provide services to large companies, Minister of Business, Dominic Gaskin announced. The government’s Department of Public Information said in 2018, the Small Business Bureau (SBB) intends to register companies that meet certain standards and quality. Those companies, he said would ...

Minister of State, Joseph Harmon and Agriculture Minister, Noel Holder were Tuesday at odds over whether sugar workers should have been told now that they would be laid off at month-end. Harmon said the decision by the state-owned Guyana Sugar Corporation (Guysuco) to send home thousands of workers was not communicated to Cabinet and he was taken by surprise by ...

Government on Tuesday appeared to further reduce the annual production target of a scaled down Guyana Sugar Corporation. Minister of Agriculture, Noel Holder told the National Assembly that government was now targeting sugar production of 145,247 tonnes in 2020. When government last year had tabled its White Paper on the sugar industry, it had set itself a target of 174,000 annually. ...

A study on how best to employ thousands of workers, who are being laid off as part of the restructuring of the state-owned Guyana Sugar Corporation (Guysuco), in other areas of agriculture is now underway, officials said Monday. Chief Executive Officer of Guysuco, Errol Hanoman said the experts have cited the need for a good level of demand for produce to ...

The opposition People’s Progressive Party Civic’s (PPPC) Shadow Finance Minister, Irfan Ali on Monday charged that the David Granger-led coalition’s promise of a “good life” amounts to a “good lie” based on his mid-term review of Guyana’e economic performance. “It’s not OK. It cannot be OK for us when the people of this country are suffering. It cannot be OK ...

The opposition People’s Progressive Party Civic (PPPC) on Monday said evidence shows that Guyana has slipped on the World Bank’s ‘Ease of Doing Business’ ranking, a situation government hopes to remedy with a multi-million dollar project to be funded by the Inter-American Development Bank (IDB). PPP Shadow Finance Minister, Irfan Ali, in kicking off debate on the 2018 National Debate, ...

Guyana’s oil revenues should be used to finance the development of renewable energy sources and cash normally spent on fossil fuels should be fund systems that can resist the impact of climate change, say top local and regional officials. “Anticipated earnings from the oil and gas sector should fund Guyana’s transition to a ‘green economy’ and provide a mechanism for ...