State Minister returns from China; discussed payment for 20% purchase of GTT shares

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Minister of State, Mr. Joseph Harmon and In-House Legal Counsel at the National Industrial and Commercial Investment Limited (NICIL),  Natalia Seepersaud have returned from an official trip to China, where they engaged in discussions on the  payment of the US$5 million balance owed for the purchase of 20 percent of the Guyana Telephone and Telegraph Company (GTT) shares by Chinese company, Datang Telecom Technology and Industry Group from NICIL in 2012.
This deal was entered into by the previous administration but only US$25 million of the agreed US$30 million was paid.
A statement from the Government Information Agency said that the investigations and enquiries that were conducted by the Guyanese delegation were highly successful.
Meanwhile, the team’s report will be submitted to the Board of Directors of NICIL for deliberations, after which, a full statement on this matter will be issued.
GINA also reports that during the same period, a team from the Guyana Revenue Authority (GRA) comprising Head of Project Coordination, Fitzroy Corlette and Supervisor, David Hermonstine, along with the representative of the Chinese companies in Guyana, Mr. Clinton Williams, visited China to participate in negotiations with NUTECH, a Chinese security scanning equipment supplier, for the acquisition of container and baggage scanners.
NUTECH is recognised as one of the world’s top providers of security scanning equipment. The company produces scanners that are used to effectively prevent the trafficking of contraband such as explosives, narcotics and radioactive substances.
The acquisition of security scanners by the GRA is aimed at strengthening air, land and sea port security and to help in the fight against the trafficking of illegal drugs.
The GRA team and NUTECH have reportedly, both expressed satisfaction on the outcome of the negotiations and the Guyana Revenue Authority is expected to issue a separate statement on this matter shortly.

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