Business

Ahead of parliamentary approval of GYD$350 million in the National Budget for the construction of the Specialty Hospital, Fedders-Lloyd is yet to complete  an assessment of the works done so far at the worksite by another Indian company whose contract has been scrapped. The 2016 estimates of expenditure shows that Guyana government has set aside GYD$350 million for thewhich includes mobilization ...

Opposition Leader, Bharrat Jagdeo forecasts a hike in transportation due to the ban on used tyres and a restriction on the importation of used vehicles to eight years and under- effectively pushing up the cost of acquiring vehicles. “If you have to buy new tyres, if you can’t get a new vehicle that is more than eight years old… I ...

Opposition Leader, Bharrat Jagdeo was Friday afternoon riled by government’s announcement that Guyanese would first have to prove that they are paying their taxes before they are granted licences and tax exemptions. “This is a big brother kind of approach. The GRA (Guyana Revenue Authority) will now have a primary part in our lives once again. It is an old Burnhamite ...

Mere minutes after Finance Minister Winston Jordan announced a GYD$230B Budget for 2016, Opposition Leader Bharrat Jagdeo says that the Budget is “anti-poor and anti-development.” Jagdeo at a press conference shortly after Jordan concluded his budget speech declared that some Guyanese are still confused and might still be trying to figure out what really happened in the National Assembly. He ...

 Government has announced its intention to increase sweeping reforms the tax sector which include the removal of excise tax on new vehicles that are under 4 years old. This was announced by Finance Minister Winston Jordan in his 2016 Budget Speech.   According to the Minister, persons importing vehicle under 4 years old and under 1500cc will no longer be ...

Government’s announcement of a reduction in fuel prices  from Monday, February 1 will now see consumers paying less than GYD$90 dollars off of a gallon of gasoline at the pumps of the state-owned Guyana Oil Company (GuyOil). In his 2016 National Budget presentation on Friday, Finance Minister,Winston Jordan  also announced that the price of diesel will be reduced by less ...

Even as government increased the Income Tax threshold from GYD$50,000 to GYD$55,000, it announced that a range of fees would increased. In relation to public sector wages and salaries, Finance Minister Winston Jordan  did not announce a specific increase in wages and salaries because that would be subjected to negotiations with the trade unions. They include gun licenses. No specific ...

The Ministry of Natural Resources has decided to establish a Compliance Division to police the scaling back of the use of mercury and overall verify that miners and loggers are complying with Guyana’s laws and regulations. “The compliance unit really is going to be attached to the ministry so they are going to be going out on behalf of the ...

Guyana is currently contemplating joining a list of other Caribbean countries in search of another fuel supplier in order to reduce reliance on Trinidad and Tobago, now that Venezuela’s PetroCaribe has dried up as a fuel sources. Speaking at the induction of the Board of the Guyana Energy Agency (GEA) on Thursday, Minister of Public Infrastructure, David Patterson said he ...

The drought has begun battering Guyana’s agriculture sector, forcing authorities to begin pumping water into the drying up conservancies. Briefing a high-level multi-sectoral meeting on the El Nino situation, Agriculture Minister Noel Holder said efforts would be made to pump water to support agricultural areas but also explore ways in which water can be retained in a controlled manner for ...