THE government will on Friday table the Motor Vehicles Insurance Amendment Bill 2017, which will provide issuance of third-party insurance coverage for motor vehicles coming into Guyana from any foreign country.

The Bill will be amended in accordance with an International Agreement, which, in essence, is any bilateral, multilateral agreement or treaty or any similar arrangement between Guyana and a foreign State or States.
A Motor Vehicles and Road Traffic Amendment Bill passed in the National Assembly in 2016 was intended to amend the Act by increasing fees for the transfer of motorcycles and other motor vehicles, by imposing fees for the issuance of Letters of Authenticity and driving permits.
At the time, the transfer of ownership attracted a fee of $5,000 for motorcycles; and $25,000, or two per cent of the selling price or current valuation, whichever was greater, for motorcars.

Additionally, overseas-based motorists visiting Guyana temporarily were asked to pay $2,000 for a driving permit, and another $2,000 for the Letter of Authenticity to verify their driver’s licence.
However, the Parliamentary Opposition had argued at the time that the way the Bill was crafted was intended to impose more strain on the ordinary citizen, and as such did not support it.
But Finance Minister Winston Jordan, in whose name the motion was moved, has always maintained that amending the Bill is, in the long run, in the country’s best interest.