FRIDAY 4th NOVEMBER, 2022
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No. 106896
More benefits for Guyanese - increased royalty, corporate tax among new fiscal conditions identified by gov’t ahead of auctioning of 14 oil blocks - provisions in place to ensure there are consistent activities in auctioned blocks, Dr. Jagdeo says
By Tamica Garnett THE government has agreed to auction 14 of Guyana’s remaining offshore oil blocks under new fiscal terms, which will subject successful companies to 50 per cent profit sharing, a royalty
rate of 10 per cent, and corporate tax of 10 per cent, among other things. The new fiscal terms and other conditions for future Production Sharing Agreements (PSA) were outlined on Thursday by Vice-President Dr. Bharrat Jagdeo during a
press conference at the Office of the President. Giving an update on the government’s progress regarding the imminent oil-block auction, Dr. Jagdeo noted that Guyana is among 65 countries that will be launching auctions of
oil blocks, and as such the government worked along with international consultant, IHS Markit Consulting, to offer the best terms that will see the country remaining competitive while also getting a fair deal.
(See full story on Page 3)
Significant infrastructure upgrades for Annandale - President Ali commits to residents during visit to community
PRESIDENT Dr. Irfaan Ali on Thursday committed to upgrading roads and drainage systems in the community of Annandale, East Coast Demerara, after engaging residents on their immediate concerns. The Head of State, along with a team of government officials which included Attorney-Gen-
eral Anil Nandlall, S.C.; Minister of Housing and Water Collin Croal, and Minister within the Ministry of Public Works Deodat Indar, ventured into the community to continue his engagements with citizens. As the President and team made their way through the community, residents greeted them
Norton’s faux pas exposed
- World Bank clarifies that recent fact sheet contains statistics from period of Coalition’s rule, VP Jagdeo says
with open arms, and did not hesitate to share their commendations and concerns with them. On site were a number of officials from the various ministries dealing with those critical issues, one of which was the immediate need for upgrades to community streets.
(See full story on Page 2)
Gas-to-Energy project: Agreements to be signed with land owners from this weekend SEE PAGE
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30,000+ secondary school girls to benefit from Menstrual Hygiene Initiative SEE PAGE
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SEE PAGE
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15 witnesses come forward so far for Elections CoI; hearings commence today
SEE PAGE
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