Business

The rate of implementation of Guyana’s Public Sector Investment Programme (PSIP) has been pegged at a lowly 20 percent, prompting a call by Finance Minister Winston Jordan for retired persons to become evaluators. “If there is one that we haven’t really got going is the Public Sector Investment Programme, we would like to see far more done,” he said, adding ...

President David Granger on Wednesday met with Mr. John Hess, Chief Executive Officer (CEO) of HESS Corporation, the exploration company that holds a 30 percent interest in Exxon Mobil’s offshore drilling operations in the Stabroek Block. The CEO was accompanied by the company’s President and Chief Operating Officer, Mr. Greg Hill, Executive Vice President at Exxon Mobil Exploration Corporation, Mr. Mike Cousins, Country ...

The Caribbean Court of Justice (CCJ) on Tuesday ordered Guyana to refund the Trinidad-based beverage company, SM Jaleel and its subsidiary in Guyana,  a yet to be agreed large amount of Environmental Tax levied between 2011 and 2015 in violation of Caricom’s trade rules. “The Court holds that Guyana has been clearly unjustly enriched at the expense of SMJ and ...

A GYD$14 million contract has been awarded to the German-based meeco Group, along with its Guyanese joint venture company, for the supply and installation of a solar photo voltaic (PV) system at State House. The procurement of the contract was done by the Guyana Energy Agency (GEA) and the local joint venture company is oursun Guyana. “Our joint venture company oursun Guyana ...

Finance Minister, Winston Jordan has scolded the top brass of the Bank of Guyana for its lax monitoring and oversight of the country’s foreign exchange market and anti-money laundering regime. Jordan last week made his views known to the Central Bank’s board of directors against the background of the recent alleged GYD$900 million fraud by a gold dealer and miner against ...

The Guyana Government this past year spent close to GYD$2 billion under questionable circumstances, including without a public tender or on an emergency basis. The revelation was made today (May 8, 2017) in the National Assembly when Government Ministers supplied responses to a slew of questions posed by Peoples Progressive Party Civic Member of Parliament, Bishop Juan Edgehill. With regards ...

The Guyana Government has decided to reduce the amounts of sugar it produces on an annual basis, retain only three factories and take over health  and drainage and irrigation services offered by the Guyana Sugar Corporation (GuySuCo)- all aimed at producing a targeted 147,000 tonnes of the sweetener annually at a profitable price. The announcement was made today (May 8, 2017) ...

Finance Minister, Winston Jordan on Sunday said government would be prepared to offer concessions and tax holidays to private sector investors in value-added agricultural production, even as his ministerial colleague lamented that Lindeners have failed to take advantage of multi-million dollar opportunities to improve their livelihoods through the Linden Economic Advancement Programme (LEAP). “Government doesn’t want to get into economic ...

Finance Minister, Winston Jordan on Sunday announced that alcohol and cigarette imports would be stamped, as government moves to stamp out smuggling and rake in more taxes to help bridge a GUD$38 billion deficit. Addressing a community outreach meeting at Amelia’s Ward, Linden, he said “this year we are going to start a stamping programme where we are going to ...

Four of six suspects, who were allegedly involved in robbing a shop at Cornelia Ida, West Coast Demerara, were arrested after one of the getaway cars was intercepted, another got into an accident and two of the men were held attempting to cross the Demerara Habour Bridge in other vehicles , the Guyana Police Force said. Investigators said they also recovered ...