Latest update December 22nd, 2024 4:10 AM
Latest News
- Each household in Guyana lost $1.7M in 2024 from Govt’s refusal to apply 65% windfall taxes on Exxon’s excess profits
- Citizens file Court action against Exxon’s 7th oil project
- Pope calls Gaza airstrikes ‘cruelty’ after Israeli minister’s criticism
- Brutus admits traveling to Lethem
- Toy gun bandit shot dead, accomplice escapes
Govt. now contracts law firm to implement beneficial ownership register
Kaieteur News – The National Procurement and Tender Administration Board (NPTAB) has awarded Barker, Barron and Law, the contract to support the Guyana Extractive Industries and Transparency Initiative (EITI) in the Implementation of Beneficial Ownership Roadmap in Guyana.
According to information provided on NPTAB website, the contract was awarded on February 20, 2024 to the entity and is valued US$47,447. Barker, Barron and Law is among four entities that submitted bids for the Ministry of Natural Resources project.
The ministry had issued a tender seeking proposal for individual consultancy services to execute the task.
Kaieteur News reported that the EITI, a global standard to promote transparency and accountability in the oil, gas and mining sectors require all implementing countries, including Guyana to implement a register of the beneficial owners of the corporate entity (ies) that apply for or hold a participating interest in an exploration or production of oil, gas or mining licence or contract.
According to the 2019 EITI Standards, countries are required to maintain a public register of beneficial owners that demonstrates the level of ownership and details about how ownership or control is exercised. The 2019 EITI Standard requires that, as of January 1, 2020, implementing countries request, and companies publicly disclose, beneficial ownership information.
It was reported that four years after the timeline set out by EITI, Guyana has not yet developed a register of beneficial owners that hold lucrative mining licenses in the extractive sectors.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Policy-making by neglect
Peeping Tom… Kaieteur News- The ease with which Bharrat Jagdeo, General Secretary of the People’s Progressive Party... more
Breaking the Chains of Poverty: A need for political will
By Sir Ronald Sanders Kaieteur News- The year 2024 has underscored a grim reality: poverty continues to be an unyielding... more
Weekend Cartoon
