Tag Archives: oil revenues

Newly-elected Alliance For Change (AFC) leader, Nigel Hughes on Saturday said his party wants a law passed for all Guyanese to get direct cash transfers from oil revenues rather than cash grants that appear to be political handouts. “I’m proposing that we abolish immediately the liberty of giving government ministers or politicians, whether the opposition or government, the right to ...

The nominees by the Opposition Leader and the Bank of Guyana on the Investment Committee of the Natural Resources Fund into which oil revenues are deposited have been approved retroactively and could now sit on that decision-making body, according to the Official Gazette. The Opposition Leader’s nominee, city businessman Dr Terrence Campbell and Mr Ganesh Sugrim were nominated by the ...

The opposition People’s National Congress Reform (PNCR) on Friday recommended that government considers a raft of measures, including lower income tax, fatter pay packets and increased pensions in the 2022 national budget to cushion the impact of the 20-percent increase in the cost of basic items. Highlighting that Guyana’s economy was projected to record real growth of 49.7% plus US$607 ...

President David Granger has announced that Cabinet has agreed to dole out some of the oil money to get poor Guyanese children to school. He made the announcement Wednesday night at a 2020 general election campaign of his A Partnership for National Unity+Alliance For Change (APNU+AFC) at Anna Regina, a town on the Essequibo Coast. “We don’t want to put ...

Change Guyana (CG) political party on Tuesday made a number of promises to ensure a “fair share ” of the country’s oil and gas resources are provided to ordinary Guyanese, while at the same time taking back all idle oil blocks and holding annual auctions with significant signing bonuses. “All blocks for which investors’ commitments have not been delivered to ...

President David Granger Friday night said he expected increased jobs and assured that oil revenues would be spent wisely, shortly after ExxonMobil announced that it earlier in the day began commercial oil production from the Liza field offshore Guyana. “The petroleum sector will stimulate increased employment and expand services,” he said in an address to the nation. He announced that ...

Tourism executives are banking on Guyana’s listing by Condé Nast Traveler, a premier travel magazine, as one of the top 20 places to visit next year to further boost the sector which has so far raked in more than GYD$60 billion dollars annually. Director-General of Tourism, Donald Sinclair told a domestic Regional Tourism Committee Forum that many of the ecotourism ...

President David Granger promises that the bulk of Guyana’s oil revenues will trickle down to ordinary people and some will be used to revive the country’s village economies and social programmes. “We will put the benefit, we will put the profit, we will put the better part of that petroleum revenue to ensure that your children will never be poor ...

Finance Minister, Winston Jordan says the governing coalition’s general election campaign will not be pegged on the immediate benefits of oil money next year, but will list a number of tax concessions leading up to 2025 as more oil revenues pour in. He says lower individual, corporate, value-added and other taxes will find their way into the manifesto of the ...

Former Foreign Minister Carl Greenidge has confirmed that the Guyana government does not favour direct cash transfers into the hands of ordinary Guyanese on the grounds that it will encourage unemployment, a position that was roundly rejected by Chairman of the Buxton First of August Movement (FAM-Buxton), Professor David Hinds. “I don’t know that one can give a definitive answer ...