September 28, 2016

Govt meets Chinese company over outstanding $US5M on GTT Shares

Minister of State Joseph Harmon

Minister of State Joseph Harmon

Guyana could soon receive the US$5 million outstanding payment it is owed by a Chinese company which bought the government’s 20 per cent shares in the Guyana Telephone and Telegraph (GTT) Company.

This was after Minister of State Joseph Harmon and Legal Counsel at National Industrial and Commercial Investments Limited (NICIL), Natalia Seepersaud, visited China and held discussions with Datang Telecom Technology and Industry Group over the outstanding payment for the shares bought from NICIL in 2012 for some US$30 million.

This deal was done by the previous People’s Progressive Party/Civic (PPP/C) administration, but only US$25 million was paid.

The Ministry of the Presidency (MTP) in a statement Friday said that Minister Harmon, upon his return reported that investigations and enquiries conducted by the Guyanese delegation were highly successful.

“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,” the statement said.

Harmon was also accompanied by Head Project Coordination of the Guyana Revenue Authority (GRA) Fitzroy Corlette and Supervisor David Hermonstine, along with the representative of the Chinese companies in Guyana, Clinton Williams, who  participated in negotiations with NUTECH, a Chinese security scanning equipment supplier, for the acquisition of container and baggage scanners.

 “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 statement added.

 According to the ministry’s statement, the GRA team and NUTECH both expressed satisfaction on the outcome of the negotiations.

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.

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