Business

The Guyana government and the National Insurance Scheme on Friday inked an agreement to re-capitalise the cash-strapped social security institution , the National Insurance Scheme (NIS), which had invested in the now failed Colonial Life Insurance Company (CLICO). The first payment of $317,359,002.94 will be made to NIS in January 2017. Finance Minister, Winston Jordan signed an Agreement with the ...

Minister of Public Infrastructure, David Patterson has announced that a generator set from the Onverwagt power station in West Berbice was due to arrive in Bartica on Friday, to boost power generation in the Region Seven community. The Government Information Agency (GINA) said township is set to receive improved electricity distribution by Sunday, September 18. Recently the Bartica Township was plagued ...

Ogle Airport Inc. on Thursday said that its lease agreement with the Guyana government only provides for a review panel, a mechanism that Public Infrastructure Minister David Patterson said a legal consultant has recommended. Asked how alleged anti-competitive behaviours by the Correias at the Eugene F. Correia “Ogle” Airport are being addressed, Patterson said a review of the lease agreement ...

The Guyana government is moving to purchase a new dredge that would deepen, among other waterways, the Demerara River, Public Infrastructure Minister, David Patterson said Thursday. For several years, shipping companies and their umbrella organisation, the Shipping Association of Guyana (SAG), have been lobbying government to dredge the Demerara River to accommodate larger ships with more cargo and so lower ...

Slow implementation of multi-million dollar projects is dogging the Ministry of Public Infrastructure, partly because contractors are overburdened with projects and the unavailability of the required number of engineers. Public Infrastructure Minister, David Patterson said that up to August 31, 2016 GYD$11 billion of the GYD$24.28 billion set aside for capital works of the Public Sector Investment Programme were spent. ...

Peeved at the paltry overtime being paid and other poor working conditions, aircraft maintenance personnel at Caribbean Aviation Maintenance Systems (CAMS) on Tuesday downed tools for one day to send a signal to management. Christopher “Kit” Nascimento, spokesman for the Correia Group of Companies, which includes CAMS, told Demerara Waves Online News that there was no strike or industrial unrest ...

Deputy Mayor, Sherod Duncan and fellow Georgetown City Councillor Andriea Marks on Tuesday signalled that they would team up with each other to spearhead a campaign for the removal of Town Clerk, Rosyton King. Marks’ first salvo was the hoisting of two two placards during the City Council’s statutory meeting to vent her frustration at the way King is managing the city ...

Despite the Guyana government’s assurances that it was preparing to cut short the “undesirable” rental of a pharmaceutical bond from a city businessman, former Attorney General Anil Nandlall plans to file legal action to scrap the deal. Nandlall said that in the first instance that the contract between the Ministry of Health and Linden Holdings, a company under the directorship ...

Baishan Lin, is actively considering taking legal action against Guyanese authorities, a day after the Guyana Revenue Authority (GRA) began seizing equipment and allegations that even personal property was being stolen from the company’s workers at Coomacka, Upper Demerara River. At the same time, the Chinese company is begging the Guyana government for three more years to acquire US$30 million ...

The Alliance For Change (AFC) on Saturday fended off suggestions that Guyana’s Ambassador to Kuwait, Dr. Shamir Ally was unfit for that top diplomatic post, saying that he never deliberately engaged in fraud at an American transmitter manufacturer. The party for which Ally is a key financier said he had merely performed duties based on the system he had taken over. ...