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The Georgetown Chamber of Commerce and Industry (GCCI) said citizens need more time to study the proposed Natural Resources Bill.
In a statement on Tuesday the City-based umbrella body also said it is pleased with the amended Natural Resources Fund (NRF) Bill’s general adherence with the international benchmark for Sovereign Wealth Funds, commonly referred to as the ‘Santiago Principles.’
“Given the paramount importance of this Bill, and its use as a tool for intergenerational wealth transfer of the citizens of Guyana, the GCCI is of the belief that more time should be provided to the public for its input and general commentary on the Bill.”
The GGCI says it views the Bill as being an instrument of exceptional importance in the development landscape of Guyana – for current and future generations. “As such, it has been carefully following the developments associated with, and analyzing in detail, the Bill since its release to the public on December 15, 2021.” The GCCI said it will be communicating its views on the bill to Minister of Finance Dr Ashni Singh.
The GCCI is the latest organisation to have criticised rhe bill and urged that more time be given for broader consultations on it. The Irfaan Ali Administration however seems reluctant to heed the advice.