Guyana News

 The latest Guyana news from Stabroek News including oil and gas coverage, crime, politics, culture, business and more.

City Chamber welcomes local content bill

The Georgetown Chamber of Commerce and Industry (GCCI) on Friday commended the government for tabling of the Local Content Bill in the National Assembly, while maintaining that it would facilitate material benefit to the Guyanese private sector.

Dr Ashni Sing

Bill would allow gov’t to choose all members of Natural Resource Fund board

After more than sixteen months in office, the PPP/C government yesterday tabled its first oil and gas legislation which will permit, if passed, the withdrawal of the entire amount attributable to the Natural Resource Fund in the first fiscal year and be governed by a Board of Directors (BoD) which it appears will be handpicked by the administration.

Vickram Bharrat

Local Content Bill sets out parameters for employment

Six years after the discovery of oil offshore and more than two years after production began, Guyana’s Local Content Bill was yesterday laid in the National Assembly, setting out the minimum percentage employment and goods and services procurement for locals, while requiring that the data to substantiate the claims be submitted every year.

NRF Bill

After being derelict for 16 months in its responsibility to activate the Natural Resource Fund (NRF) Act, the government yesterday tabled a wholly unacceptable bill in the National Assembly that must be withdrawn and recomposed.

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