Business

The Guyana Civil Aviation Authority (GCAA) will be probing the alleged overloading of aircraft with drums of fuel from Eteringbang to Ekereku, but so far the airline in whose direction fingers are pointing has denied doing so. GCAA Director General, Retired Col. Egbert Field told Demerara Waves Online News that his regulatory agency preparing to probe an informal report that was received ...

City Hall earned a paltry sum of just over GYD$250,000 from the controversial parking meter system, even as Cabinet remains worried about the political implications of the deal between the Mayor and City Council and Smart City Solutions (SCS), according to well-placed sources. Sources said the virtual boycott orchestrated by the Movement Against Parking Meters (MAPM) has seen the city ...

Finance Minister Winston Jordan believes the local manufacturing sector is not doing enough and has to take stock of itself and that its contribution to national earnings today is a mere five percent of the Gross Domestic Product (GDP)—a far cry from four decades ago when it stood at 15 per cent. The Minister of Finance on Thursday (March 2, ...

by Gary Eleazar The Indo-Guyanese population has been called on, to rise up and protect the gains made in the 100 years since the abolition of indentureship, particularly when it comes to the rice and sugar industries and to fend off the frontal, targeted attacks by the ruling administration. The audacious charges were made by Indo-Guyanese leaders that gathered under ...

by Gary Eleazar   Those found to be abusing concessions granted by government, as incentive primarily towards business ventures, if caught will now have to pay up the applicable taxes that were waived by the Guyana Revenue Authority (GRA) or have that concession withdrawn or seized altogether. GRA’s Commissioner General, Godfrey Statia made the disclosure on Thursday (March 2, 2017) ...

Trinidad and Tobago, and Suriname have offered to refine Guyana’s oil, although ExxonMobil reserves the right to take its portion elsewhere for processing, authorities said Thursday. Minister of Natural Resources, Raphael Trotman said  Trinidad and Tobago’s oil refinery, which has a capacity to process 175,000 barrels per day, has been operating “below optimum” even with the importation of oil from ...

Minister of Natural Resources, Raphael Trotman on Thursday cautioned against releasing details of oil exploration and production contracts because of the likely implications this may have for addressing border claims by Suriname and Venezuela. “Government, at this point in time, is of the view that full disclosure would not be to the national benefit or the national interest,” he told ...

  –as  Finance Minister urges ‘Buyer Beware’ of shady vendors   by Gary Eleazar The Guyana Revenue Authority (GRA) has begun moving against businesses targeting unsuspecting consumers, by applying the 14 per cent Value Added Tax (VAT) on items which are zero-rated or exempt. This was confirmed by Tax Chief, Godfrey Statia, who on Thursday (March 2, 2017), met with ...

Trevor Thomas has been fired from the post of Permanent Secretary of the Ministry of Public Health, in keeping with a recommendation by a Commission of Inquiry into procurement practices at that public service entity. Minister of State, Joseph Harmon said Thomas was relieved of his duties with effect from March 1, 2017. “His service as Permanent Secretary was terminated…He ...

The Guyana government is strapped for cash and would be introducing a number of austerity measures including recycling envelopes, while at the same time hoping that the Public Sector Investment Programme (PSIP) and housing projects will kick-start the economy. “It means that you have to be a little more careful in how you spend your money so that it lasts. ...