Govt spent US$5M to rehab Sanata, then sold it to Ramroop for US$3.4M – Audit report reveals

By Abena Rockcliffe The term “friends with benefits” was magnified in a section of the National Industrial and Commercial Investments Limited (NICIL) audit report which confirmed that Dr. Ranjisingh ‘Bobby’ Ramroop—best friend of former President Bharrat Jagdeo—was able to grab the Sanata Complex at a gift price. The report also highlighted NICIL’s admittance that it … Read more

Sanata complex deal…Tax holidays not yet granted by GRA

Law contains deficiencies, inaccuracies, not exhaustive enough – Finance Ministry Government says that the legislation regarding tax holidays and concessions contain a number of obvious deficiencies and various inaccuracies and omissions. This is according to a release from the Ministry of Finance which sought to clarify the recent controversy surrounding the tax holidays and tax … Read more

Investors for Sanata Textiles deal get…Five-year tax hoildays, customs waivers, duty-free concessions

The concessions granted to the investors of the Sanata Textiles complex are according to law and in keeping with what is offered to any new project, Government said yesterday. During a press conference at the studios of the National Communications Network (NCN) to clear the air over the Sanata deal, Head of the Guyana Office … Read more