News

The contract between Guyana and United States (US) oil giant, ExxonMobil is to be made public in December, ending months of calls by various stakeholders. Minister of State, Joseph Harmon said government made a “fulsome consideration” of the related matters including widespread calls for the 1999 deal to be released. He said government was committed to ensuring transparency and has ...

The state-owned Guyana Sugar Corporation (GuySuco) has begun laying off workers from this month-end as part of a restructuring plan of the loss-making entity, but one of the unions on Thursday warned of a massive economic downturn in the sugar-dependent village economies. “It’s going to bring ruination to the communities because all these areas they are closing the workrs depend ...

Commuters are being urged to speak out against errant minibus drivers. The call was made by Minister within the Ministry of Public Infrastructure (MPI), Annette Ferguson at a Road Safety Education awareness village hosted at the Stabroek Market Square today. At the event to observe the end of road safety month, Minister Ferguson said despite continuous awareness campaigns on road ...

Two private sector organisations on Wednesday expressed mixed views about the 2018 National Budget, ahead of next week’s parliamentary debate on the package of revenues and expenditures. The Guyana Manufacturing and Service Association (GMSA) said while the budget includes several recommendations, a lot has not been done to stimulate and expand manufacturing. “The GMSA was hopeful that proposed measures to ...

A senior Private Sector Commission official Tuesday night welcomed government’s decision to roll back a number of tax measures, but said the 2018 National Budget was expected to be “non-impactful”. “The budget is immediately non-impactful on the economy but some of the measures that were reversed are very, very good,” PSC executive member, Ramesh Dookhoo told Demerara Waves Online News ...

Government has decided to revise its model Production Sharing Agreement (PSA) with oil companies now that Guyana’s  offshore basin is less risky, and already one oil and gas expert is touting a rate of return model backed up by Guyana’s participation in a state oil company to serve as a watchdog against skulduggery. Attorney-at-Law, Charles Ramson, who this year emerged ...

Opposition Leader, Bharrat Jagdeo Monday slammed Finance Minister, Winston Jordan’s budget as “disastrous”, saying it failed miserably to keep several of the David Granger-led coalition government’s promises. Jagdeo questioned the sincerity of government to grant amnesty to companies and individuals that have not submitted tax returns which would result in a waiver of the interest rates. “Why now? Why this ...

Companies and individuals have been granted an amnesty to file outstanding tax returns, but if they file bogus returns they will be penalized, Finance Minister Winston Jordan announced. “Taxpayers who expect to benefit from this amnesty must file true and correct returns. Those found to be in violation will be subject to an audit and the attendant penalties and interest ...

The 14 percent Value Added Tax (VAT) on all education services has been scrapped, Finance Minister Winston Jordan announced. He said, in the 2018 Budget Speech, that the decision was taken “in view of the representations” made to have the tax removed. Jordan said government would lose GY$342 million now that the tax has been abolished. At the same time, ...

Teachers working in far-flung areas of Guyana will get an 80 percent increase in remote area incentives aimed at cushioning the impact of high cost of living in those regions, Finance Minister Winston Jordan said. He noted that even if education infrastructure is increased and improved, the bottom-line is ensuring the availability of good teachers is vital. In an effort ...