…as gov’t moves to improve transparency, accountability

THE Ministry of Natural Resources has commenced consultation on the Guyana Gold Board (Amendment) Bill – a bill intended to improve transparency and accountability at the Guyana Gold Board.

On Monday, Minister of Natural Resources Raphael Trotman, together with Board members and officers of the Guyana Gold Board (GGB), consulted with gold dealers and other stakeholders on the proposed amendment to the Guyana Gold Board Act.

In a statement, the Natural Resources Ministry said Minister Trotman, while presenting on the proposed amendment, explained that it is intended to amend Guyana Gold Board Act, Cap. 66:01 and certain provisions of the Tax Act, Cap 80:01.

This, he said, is in an effort to strengthen the regulating regime of the gold trade.
“This would as a result allow the successful execution of the provisions of the Act and therefore improve transparency, accountability and the efficiency of the GGB in carrying out its business in relation to the purchase and sale of gold,” the Ministry explained.

During the meeting, the gold dealers and other stakeholders such the mining syndicates, the Guyana Women Miners’ Organisation and the Guyana Gold and Diamond Miners’ Association were given an opportunity to share their perspective on the proposed legislation. “The session ended without there being any objection or concerns raised by the stakeholders about the amendments,” the ministry noted.

With the relevant stakeholders consulted with, the Minister will now present the bill to the Cabinet for approval and its eventual introduction into the National Assembly.