The Guyana Gold and Diamond Miners Association (GGDMA) says it welcomes the relief measures for the Mining Sector, announced in the 2020 emergency Budget.
The Association noted that the among the measures, announced, which will lend to the development and sustaining of the mining sector are: tax concessions for recapitalization, reversal of Value Added Tax (VAT) on heavy-duty equipment/machines, the abrogation of certain unnecessarily burdensome requirements related to the licensing of equipment and the transportation of fuel as well as hinterland infrastructural development.
The GGDMA notes that it had proposed, in its manifesto for mining, the implementation of those and other measures over the years and it is satisfied with the partial fulfilment of the promises made by the new government while it was in opposition last year. The GGDMA believes that the overall measures are exactly what the country needs at this time as they are pro-business and pro-development for the benefit of Guyanese at all levels.
“The GGDMA is heartened that despite the fact that the new administration is facing much harsher times amid the Covid-19 global pandemic, a struggling economy and a number of other issues of national importance that are not typically faced by a new administration, the resolve shown through their actions to keep their promises is one that must be recognized and deserves much approbation,” the Association said in a statement.
The GGDMA also expressed its gratitude to President Dr Irfaan Ali for personally meeting with its executive in an effort to discuss matters of importance. It added that the fact that the discussion occurred just one month after the President took up office has renewed the Mining Sector’s hope for hope for the future with a collaborative approach that includes meaningful dialogue and consultation.
The GGDMA says it looks forward to working closely with the new Minister of Natural Resources Vickram Bharrat, on matters relating to the development of the sector.
