Gov’t scrutinising all gold exports; new task force set up to improve system

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President Dr. Irfaan Ali on Thursday said the government is now scrutinising all gold exports to guarantee that those shipments match local declarations, a move that is part of a wider focus on improving the gold tracking and export system locally.

The Guyanese Head of State made the announcement at a press conference hosted on Thursday at his official residence, State House, in Georgetown.

He said this move is being taken as the government awaits further information on recent sanctions from the United States Department of the Treasury on the Mohameds and Permanent Secretary Mae Thomas. Those sanctions are connected to alleged corrupt practices, including in the Mohameds’ gold export business.

“The recent sanctions, as you know, the agencies are currently continuing their work to examine the implications and more importantly, I have now asked (the Guyana Revenue Authority) to seek further information… at all export locations on gold exported by other gold dealers to have information to see whether it matches what is declared in our system,” the President said.

A new task force has also been created to determine what areas in the local gold export system need strengthening to prevent any irregularities.

That task force, the President said, comprises Attorney General Anil Nandlall, Finance Minister Dr. Ashni Singh, Commissioner General of the Guyana Revenue Authority Godfrey Statia, Governor of the Bank of Guyana Gobind Ganga and other officials including from the Guyana Gold Board.

This group is tasked with determining how the “very rigid” gold export system can be further strengthened, the President added.

Among the areas for examination by the task force are the harmonisation of tax policies, enhancing enforcement and surveillance, increased foreign collaboration, training and capacity and possibly, integrating new technologies such as GPS tracking of the gold mined and being exported.

“These are all things this group will look at and report to me in a short timeframe so that we can work on a further enhancement and improvement of the system,” President Ali noted.

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1 Comment
  1. habeeb says

    GoG now trying to play catch-up after the bulk of gold left the country ?
    I always knew all Guyanese were smarter than the Government.
    They are innovative and motivated.

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