The efficiency of transportation logistics, coupled with the advanced processing capabilities of sugar mills, positions Australia as a key player in meeting global sugar demands.
US Farmers Harvest 2.9 Billion Pounds Of Sweet Corn This Way - Farming
US Farmers Harvest 2.9 Billion Pounds Of Sweet Corn This Way - Farming
President Ali raises his salary by $150,000
Opposition Member of Parliament, Tabitha Sarabo-Halley said by offering a 7% across the board increase for public servants, President Irfaan Ali, in effect, has given himself an increase of $150,000 while offering minimum earners $4,900 before tax.
âThe public servant who is earning minimum wage would receive a monthly salary increase of a mere $4900 while the president who is earning $2 million dollars plus will be receiving a $150,000 increase. Worse still, is that the minimum wage earners must pay taxes on their salary increase while the president will not,â MP Sarabo-Halley told reporters during a press conference on Friday.
Noting that the âstark contradictionâ highlights the major difference between the A Partnership for National Unity + Alliance For Change (APNU+AFC) and the Peopleâs Progressive Party/Civic (PPP/C), she pointed out that under the coalition government, senior public servants were awarded a lower percentage increase than junior public servants, thereby ensuring that the income gap would reduce overtime.
âThe PPPâs single rate across-the-board increase is intended to widen the gap between those who have much and those who have little. In a time when world â over, emphasis is being placed on equity, the president chose to reward himself and Ministers with a 7% increase amounting to $150,000 tax free for himself, $120,000 for the AG and PM and 60,000 for other Ministers knowing very well that the public servants who work for minimum wage will be taking home an increase of $3528 Guyana dollars after tax (that cannot even buy a bottle of cooking gas),â the APNU+AFC Parliamentarian reasoned.
Weighing in on the matter, Leader of the Opposition, Joseph Harmon refuted claims made by President Ali that senior personnel within the public service resigned under the Coalition Government because they received a smaller percentage of increase when compared to minimum wage workers. This Harmon said is furthest from the truth, noting that the scale system was fully embraced by workers.
âIf you want to bring equity and justice, you will never try to use equality to bring that because equality would not give you that. Equality will continue that system of inequity,â Harmon reasoned.
The Opposition Leader also rubbished claims by the President that the Coalition Government forced contract workers within the public service to go on the âFixed Establishment,â and in doing so cut their benefits. For the record, Harmon said workers willingly crossed over to the âFixed Establishmentâ in keeping with recommendations from a Commission of Inquiry (COI) into the Public Service.
âThis was an option which was given to persons, and some persons when they entered into the Public Service, they were looking for a career, and so a career suggest a progression from one stage to the next to the next, and those persons on the âFixed Establishmentâ recognized that is where the security of tenure lies. Those who were on contracts, the contracts could be terminated at any time, as had happened since this regime came into office, and so over 5,000 public servants opted to go onto the Fixed Establishment. Others who did not opt to do so are still on contracts,â Harmon clarified.
Meanwhile, MP Sarabo-Halley said the 7% increase leaves much to be desired, particularly at a time when the food inflation rate is 16.9% and the overall inflation rate is 6.84 %. Public Servants, MP Sarabo-Halley said, deserve more than a meager 7%.
She said Guyanese have every right to be disheartened given the private sector-centered measures, which were included in the last two budgets, with the intention of cushioning the impact of the current economic storm. âWhat this regime has done in two years is place billions of dollars back into the pockets of their friends and families while giving a pittance to the public service who toil day in and day out to keep the government running. The same public servants who this very PPP has to rely on for the development and growth they constantly boast is just around the corner for our country,â she said.
President Ali, in his address on Friday, said the 7% is intended to complement measures already implemented such as the 25,000 COVID-19 cash grant, but the Opposition MP said the reference to the one-off cash grants is weak attempt to justify inadequate increase.
âThis 7% percent increase reveals the uncaring and unconcerned disposition of this PPP regime and shows just how deceitful they are in both word and deed. Most of all, it highlights the fact that the PPP is no good for Guyana,â the MP said.
MP Sarabo-Halley said unlike the PPP/C Government, after just 18 months in office from July 1 2015 to January 1 2017, the APNU+AFC increased the minimum wage by over 50 percent, increased the income tax threshold by 20 percent, reduced the marginal income tax rate to 28 percent and removed the tax from employeesâ contribution to the National Insurance Scheme (NIS). In addition, old-age pension increased by 45 percent and public assistance by 27 percent.
Please see below for upcoming events being hosted by our incredible Diaspora here in the GTA.
The Consulate is pleased to share the attached flyers for upcoming events:
See all flyers below
- March 16th, 2024:The One Love Family Services presents their Ramadan Interfaith Gala at Panemonte Banquet & Convention Centre in Etobicoke. Please see attached for more details.
- March 22nd and March 24th, 2024: The Brampton Triveni Mandir presents their Holi Show and Holi Mela. Please see attached for more details.
- March 29th, 2024:The One Guyana Forum will be hosting an Iftar Dinner at the International Muslims Organization (IMO) in Etobicoke. Please see attached for more details.
- April 7th, 2024:The Cambridge Radha Krishna Mandir & Cultural Centre presents Vasant Ki Raat family nightat the Pearson Convention Centre in Brampton. Please see attached for more details.
- April 13th, 2024: The St. Stanislaus College (Guyana) Alumni Society presents its Spring Dance at the West Rouge Community Centre in Scarborough. Please see attached for more details.
- April 27th, 2024: The Toronto Kaieteur Lions Club presents their Anniversary Ball at Sts Peter and Paul Banquet Hall in Scarborough. Please see attached for more details.
- May 4th, 2024: The Vedic Cultural Centre (VCC) will commemorate the 186th Anniversary of the Arrival of Indians to the West at the VCC in Markham. Please see attached for more details.
- May 4th 2024: The Three Rivers Kids Foundation presents its fundraising Gala at the Marigold Convention Centre in Mississauga. Please see attached for more details.
You can download The Wealthy Barber Returns for free
A lot of David Chilton's new book, The Wealthy Barber Returns, is devoted to a basic message that could help a lot of people and fix some of the country's most pressing financial problems.
Mr. Chilton thinks people are spending too much money and he wants them to cool it so they incur less debt and have more money to save for retirement. It sounds like a simple solution to a complex problem, but Mr. Chilton has a way of making the simple approach work.
His first book, The Wealthy Barber, has sold more than two million copies since 1989 by reducing smart money management to a practical concept called paying yourself first. Just take 10 per cent or more of your gross pay and save or invest it.
It's great advice â I follow it myself. But not everyone does, a fact that is painfully obvious in our high levels of personal debt, poor investment returns and questionable levels of retirement savings. And so, Mr. Chilton is back with a new book that covers much of the same ground as The Wealthy Barber, but with fresh perspectives based on his experiences talking to people about how they manage money.
Mr. Chilton speaks in his own voice in the new book, not through the fictional cast of characters he used last time. He strikes just the right tone as a witty regular guy who happens to know a lot about money and is glad to share.
The book is built on a series of short, very readable chapters on topics that range from lines of credit and credit cards to a look at whether it's better to save in a registered retirement savings plan or tax-free savings account. The best material is on spending, though.
Mr. Chilton doesn't come out and say it, but it's fairly obvious that he thinks people are too materialistic and self-indulgent. To quote one of his chapter titles, they're "consumed with consumption."
There's no simple solution to the issue of overspending, but Mr. Chilton does try. He urges people to try saying "I can't afford it" as a way of extricating themselves from peer pressure to spend money, and he warns that we live in a world where "almost everyone wants you to spend as much as possible."
There are fresh insights in the book, too. For example, Mr. Chilton believes credit cards may cause harm even to people who pay their bills off in full every month. He argues that because paying with plastic is so easy and painless, people are prone to spending more and thereby blowing money they might otherwise have saved.
Mr. Chilton is one of the great communicators on personal finance and he writes in a way that will hold the interest of people at all levels of financial expertise. Why would you not read this book?
How many of you remember reading the story in school when we were small?
https://www.canada.ca/en/reven.../t3-trust-guide.html
This is now mandatory, starting from this year.
Examples of bare trusts that may trigger a tax filing requirement:
- Aging parents that have added a family member such as an adult child to the title of the family home to ease the future transfer of the property and avoid probate tax
- Aging parents that have added an adult child to their bank and/or investment accounts to help with bill payments and other transactions
- Parents that have added their names to the title of their childâs home to help them qualify for a mortgage
- Parents that have opened bank accounts for minor children
- Holding In Trust For (ITF) investment accounts for children, grandchildren, etc.
Example #1: Don is not sure whether the new rules require him to file trust returns because there is no income generated in any of the current arrangements he is the trustee of. A couple of years ago his parents added him to the title of their home and they set up a trust arrangement to hold the family cottage which Don is the trustee of.
Even though there is no taxable income to report, under the new rules Don must file trust returns as well as additional information regarding all reportable entities which include himself as trustee, beneficiaries and settlors. The additional information must be provided on Schedule 15 and be filed along with a T3 return. He must include full names, type of entity, dates of birth, tax identification numbers (such as a social insurance number), addresses and everyoneâs country of residence.
Many trustees who have never had to report a trust disclosure before can easily be unaware of their new trust reporting obligations. Even though no taxes are owed for many bare trust arrangements, the new rules create an administrative burden so its important to consult with a tax professional to ensure you are meeting all of your trust reporting obligations because the April 2 deadline is approaching quickly.
Failure to file a trust return incurs penalties of $25 per day, ranging from $100 to $2,500. Knowingly failing to file results in an additional penalty of 5% of the maximum property value held during the year or a minimum $2,500, alongside existing T3 return penalties which can be significant and should be taken seriously.
Trusts are an important legal arrangement used by many families for asset protection, property ownership arrangements and estate planning. To increase the transparency and compliance of those using and benefiting from trusts, the federal government has introduced new trust reporting rules which apply for taxation years ending December 30, 2023.
The new rules require almost all private trusts, including bare trust arrangements, that were previously not required to file a trust return to now file a T3 (Trust Income Tax and Information Return) plus a new Schedule 15 (Beneficial Ownership Information of a Trust), unless exceptions apply.
What is a bare trust?
A bare trust is a specific kind of trust where the trustee holds legal title to a property for the benefit of a beneficiary but the trustee has no power or discretion over the property. The beneficiary has complete control plus beneficial ownership of the property including any income derived from it. Thereâs no requirement to sign legal paperwork to formally establish a bare trust in Canada so some Canadians may have unknowingly entered a bare trust agreement which now requires them to file a T3 and Schedule 15.
Examples of bare trusts that may trigger a tax filing requirement:
- Aging parents that have added a family member such as an adult child to the title of the family home to ease the future transfer of the property and avoid probate tax
- Aging parents that have added an adult child to their bank and/or investment accounts to help with bill payments and other transactions
- Parents that have added their names to the title of their childâs home to help them qualify for a mortgage
- Parents that have opened bank accounts for minor children
- Holding In Trust For (ITF) investment accounts for children, grandchildren, etc.
Examples of the types of trusts that are exempt from filing:
- Trusts that have been in existence for less than three months
- Lawyers general trust accounts
- Employer profit sharing plans
- Trusts that hold less than $50,000 in assets throughout the tax year so long as they only hold deposits, government debt obligations and listed securities
- Trusts of registered charities or non-profit organizations
Example #1: Don is not sure whether the new rules require him to file trust returns because there is no income generated in any of the current arrangements he is the trustee of. A couple of years ago his parents added him to the title of their home and they set up a trust arrangement to hold the family cottage which Don is the trustee of.
Even though there is no taxable income to report, under the new rules Don must file trust returns as well as additional information regarding all reportable entities which include himself as trustee, beneficiaries and settlors. The additional information must be provided on Schedule 15 and be filed along with a T3 return. He must include full names, type of entity, dates of birth, tax identification numbers (such as a social insurance number), addresses and everyoneâs country of residence.
Example #2: Allan decided to set up a testamentary Henson Trust for his disabled daughter Shelly and appoint his brother Bill as trustee. Since the Henson Trust will not be established until Allan passes away Bill doesnât know if the new rules require him to file a trust return.
A Henson Trust is structured to protect the assets of a person living with a disability while still allowing them to qualify for government benefits such as the Ontario Disability Support Program. A Henson Trust can be set up as an inter vivos trust (established during your lifetime) or as a testamentary trust (established when you pass away as per the terms of your Will). Even though the Henson Trust is not established or earning any income yet, the new rules require Bill as trustee to file a trust return.
Example #3: John is 67 and owns land. When John turned 65 he set up an alter ego trust and transferred the land to it so that when he passes away the land will not form a part of his estate and therefore bypass probate. John was not required to file a trust return for the last few years so he is wondering if the new rules require him to file one going forward because he is the settlor, trustee and beneficiary of the alter ego trust.
Common trusts set up for estate planning purposes such as alter ego, joint partner and spousal trusts now have a trust reporting requirement so John as trustee must file a trust return for his alter ego trust.
Understand your obligations
Many trustees who have never had to report a trust disclosure before can easily be unaware of their new trust reporting obligations. Even though no taxes are owed for many bare trust arrangements, the new rules create an administrative burden so its important to consult with a tax professional to ensure you are meeting all of your trust reporting obligations because the April 2 deadline is approaching quickly.
Failure to file a trust return incurs penalties of $25 per day, ranging from $100 to $2,500. Knowingly failing to file results in an additional penalty of 5% of the maximum property value held during the year or a minimum $2,500, alongside existing T3 return penalties which can be significant and should be taken seriously.
- https://www.greaterfool.ca/202...s-about-bare-trusts/
Many more Canadians will have to file a trust tax return this year than in the past. What is a bare trust, and what are their tax filing requirements?
Ask MoneySense
I would like some clarification on the T3 tax return for the year 2023. Whom does this rule apply to and can you clarify whether all the persons on the account have to complete T3 tax returns?
âChander
What is a bare trust?
The Income Tax Act does not specifically define a bare trust, Chander. The Canada Revenue Agency (CRA) says: âA bare trust for income tax purposes is a trust arrangement under which the trustee can reasonably be considered to act as agent for all the beneficiaries under the trust with respect to all dealings with all of the trustâs property.â
Essentially, a bare trust may exist when someone holds legal title to an asset, but some or all of the asset technically belongsâmeaning it beneficially belongsâto someone else. Unlike formal trusts that are generally established with a lawyer, a bare trust is informal and can result simply from adding someoneâs name to an account or to the ownership of a real estate property.
Common bare trust situations
Some common examples of bare trusts are:
- a parent co-signing a mortgage for their child and going on the title
- a parent or grandparent who has an account for a minor child or grandchild
- an adult child with joint ownership of their parentâs bank account, investments or real estate for estate planning purposes
Who has to file a trust tax return?
The trustees of the trust need to file a tax return for it. The trustees are the people who hold title to the assets on behalf of others. So, in the case of a parent co-signing a mortgage, it is the parent who needs to file. In the case of an account for a minor child or grandchild, it is the parent or grandparent who owns the account. In the case of an adult child who holds assets jointly with their elderly parent, it is the child who needs to file.
Certain trusts with assets under $50,000 may not be required to file.
Required tax filings
Bare trusts are required to file T3 Trust Income Tax and Information Returns for the 2023 tax year. A bare trust may not need to submit as much information as other trusts. The CRA has provided this guidance (see section 3.3) to Canadians:
Step 1: Identification and other information
- When using our online services, identify the type of trust as Bare Trust by selecting âcode 307, Bare Trustâ and provide the trust creation date in the appropriate field.
- If this is the first year of filing a trust return, send us a copy of the trust document, unless such information or document has been previously submitted. See 5.3 for more information on what documents may be required.
- Where applicable, provide a response and information related to whether the trust is filing its final return (and if so, provide the date on which the trust has been terminated or wound up in the year). Provide a response and information related to applicable questions on page two.
Step 5: Summary of tax and credits
- Complete the last page including the parts âName and address of person or company who prepared this returnâ and âCertification.â
For bare trusts, the remaining parts of the T3 Return can be left blank. All income from the trust property for a taxation year should be reported on the beneficial ownerâs return of income.
Complete all parts of Schedule 15.
Choosing a name for the trust
A trust must have a name so it can be identified by the CRA. The CRA gives this example: For a bare trust for which âMs. Andrewsâ is the beneficiary, a name like âMs. Andrews trustâ may be appropriate. If there are multiple beneficiaries, the CRA suggests putting the names in alphabetical order based on last name, with the word âtrustâ at the end.
How to get a CRA trust number
A trust also needs a trust number. This number is similar to a social insurance number in that it helps the CRA identify the taxpayerâwhich in this case is the trust.
According to the CRA, the simplest method to obtain a trust number is to use the newly introduced âTrust Account Registrationâ service online. The service is available:
- Under the âMore servicesâ option in My Account
- Under the âMore servicesâ option in My Business Account
- Under the main menu in Represent a Client
What happens if you file late?
Penalties of $25 per day, up to a maximum of $2,500, normally apply for filing a trust tax return late.
The returns are due within 90 days of year-end. For the 2023 tax year, a T3 return for a bare trust is due April 2, due to March 30 falling on a holiday weekend. The CRA has said it will waive penalties for late filing for the 2023 tax year only.
Underused housing tax returns
The underused housing tax (UHT) rules introduced for 2022 may cause bare trusts to have to file both T3 Trust Income Tax and Information Returns and UHT-2900 Underused Housing Tax Returns. A trust that owns residential real estate needs to file the UHT return to claim an exemption from the underused housing tax.
What the rule changes mean for Canadians
Canadians with bare trusts that may have had no accounting or legal requirements in the past suddenly have to submit one or more annual tax filings to the CRA. The new rules are confusing to the tax community, Chander, so I can understand how you as a taxpayer must feel.
The CRA is taking an educational approach for the 2023 tax year by waiving penalties for these trust tax returns. But it is important to get up to speed on your own or using a professional to make sure you stay compliant going forward.
Behind the scenes of a hospital like you have never seen before reveal the vast network of people, technology, and processes that keep it fine-tuned and ready for all emergencies. 24 hours a day, every day always.
https://www.youtube.com/watch?v=g4iwLZjg4Mw
Time for Jagdeo to go
Dear Editor,
It is time for Bharrat Jagdeo to go. He is wasting time, distorting lines, pretending to wisdom with this sacred oil patrimony. Jagdeo degrades oil just by being near to it. Is the Local Government portfolio flexible? Then, President Ali should move people about, and find a home there for Jagdeo. Frankly, he really should be totally out of anything related to government. He has had his time, and Guyanese are worst off for it.
Locally, oil is more precious than water, with Jagdeo engaged in its husbandry. Bharrat Jagdeo and oil is a mismatch, a recipe for prolonged crisis. He canât give straight answers to oil questions, employs vitriol to insulate his ignorance. From somewhere, he obtains some technical terms, and is pleased to insert those into his answers and dissertations (diatribes also) in an ongoing effort to demonstrate how deep he is. Look no farther than the concrete drainage system in Georgetown, and that is the depth of Jagdeoâs oil knowledge. His comprehension of what proper and prudent oil management means for Guyana is a tragedy unfolding before a transfixed, perplexed population. Everyone made the mistake of thinking that Jagdeo knew what he was about with this national oil wealth. He doesnât. It is why he hedges (royalties). It is why he hides (reports and expenses). It is why he resorts to being the crude oil âheavyâ (intimidator).
I have had the misfortune of reading Chris Ramâs hauling the real Jagdeo out into the open and flaying him for his oil weaknesses. What does the man Jagdeo know? What game is he pretending to be a master of, with postures that are porous even before a casual observer? It has been my dirty duty to listen to tiny extracts from the Vice Presidentâs Thursday press conferences at Freedom House. As dirty jobs go, it stinks to listen to the Vice President of oil meandering around inquiries, issues, dissembling, and making a laughingstock of himself. The irony is that Jagdeo fools himself into believing that he is inspiring on oil, invincible in his perch, intricate in wizardry. When a quality answer is demanded, he delivers quantity in the belief that bulk impresses his audience. Absorb his accentuation of the positives: doubling production and oil prices favouring. Oil is neither that steady nor that cooperative.
What he fails to realize is that the more smoke he blows, the more he exposes his absence of know-how. Beating around the bush on oil matters fools none. Take that US$214M audit findings. Why are Guyanese being strung along, why not in arbitration yet? How is Exxon a partner when it lunges for that US$107M, after having some sneaky and suspicious nearness to that effort to reduce it to US$3M? I would have personally given Mr. Routledge a one-way ride to the airport. Guyana doesnât need his kind here. If Jagdeo cannot deal with Routledge on a measly US$214M (divided in two) in disputed audit findings, then what can he offer on royalty collections that would convince that he is the man for the big oil job? He is shambolic, indicating a man feeling his way around a challenging subject. A bluffer.
In lesser countries than Guyana, a state that must be seen to be believed, a Jagdeo would have been dropkicked out of that portfolio. The guy is not just unfit. He is unready. Unsteady, but pretending to be an oil somebody. Ask a basic oil question, and see what he knows, how much is foam and flimflam. And when he runs out of spit bubbles, he unveils his oil battering rams. Vilification. Damnation. Criminalization. It is time that Bharrat Jagdeo goes. He has done enough damage. He has been too protective of Exxon, even seemingly castrated himself to curry favour with Exxon. Guyanese have no use for such an oil leader. He has nothing to offer them, a completely impotent presence. He cannot be otherwise, when he smartly uses Freedom House as his hideaway and getaway for oil discussions. Oil discussions are not trysts.
As his partyâs General Secretary, he is within boundaries to expound on party concerns from Robb Street. But not on oil. He can speak on oil, be listened to on oil, in any forum other than Freedom House. When the issue is of elections, Venezuelans for Votes, lists, and dead voters, then Freedom House it should be. But not for oil nor any other natural resources nor safety nor money. Though President Ali has been weakened by revelations involving his own (guess who authored?), he should don armor and send Jagdeo packing. Ali either gets rid of Jagdeo or gets dragged down by him. Remember: I warned him.
Sincerely,
GHK Lall
Source: https://www.stabroeknews.com/2024/03/11/opinion/letters/time-for-jagdeo-to-go/
Zeenat Aman -- Brutally Beaten by Sanjay Khan
Zeenat Aman was brutally beaten and publicly abused by Sanjay Khan in 1979 in a five star hotel in Mumbai. This video tells the viewers all about this horrific incident involving Zeenat Aman and Sanjay Khan. Zeenat Aman and Sanjay Khan were in a relationship at that time and this incident happened in front of Sanjay Khan's wife Zarine Khan. Zeenat Aman's jaw got broken and her right eye suffered damage due to this assault. Zeenat Aman and Sanjay Khan's relationship started after meeting on the sets of the movie Abdullah (1980) and while Zeenat Aman was filming BR Chopra's film Insaaf Ka Tarazu (1980) in Lonavla, things started getting dirty between her and Sanjay Khan. Earlier Zeenat Aman was in a relationship with Dev Anand and also Raj Kapoor during the making of Satyam Shivam Sundaram (1978). Zeenat Aman later married Mazhar Khan whim whom also, she had a very troubled marriage.
Oil sector management
Mar 05, 2024 Editorial
Kaieteur News â Guyana is handling its oil wealth with all the wisdom of a blind man, who has increased his limitations by wrapping a kerchief around his nose, and put ear plugs in his ear.
Guyana started out not seeing and not knowing what is happening with its vast sea of oil 200 kilometers offshore. And, this country, through the PPP/C Government, has made the situation worse by blocking its nose so that it cannot have a scent of what is in the air out there with its oil, while also preventing its ears from picking up any signals that more attention must be constantly focused on this depleting commodity.
Neither country nor government is positioned close enough, nor is bright enough, to wrap arms around this precious oil wealth, and the depths of its operations. Guyana is ill-equipped to see what is going on, it does not want to hear where it is going wrong, and there is definitely no smell test that gives some idea of where things truly stand with offshore oil production. The distance of 120 miles (200 km) might as well be as far as Mars, where Guyana is concerned. This country has the faintest idea of what really goes on offshore, or closely survey what lies at its feet. Guyana does not and cannot monitor the vital aspects of its oil partnership enterprise. Taking ExxonMobilâs numbers is surrendering to covetousness. No tools or too few tools mean bowing to ignorance.
This is a tailor-made disaster for a country already taken advantaged of through an unimaginably horrible one-sided contract. Being unable and unwilling, through the PPP/C Government not making monitoring of oil production a very high priority, is the equivalent of recklessly entrusting this nationâs prosperity into the hands of ExxonMobil. It is patrimony casually surrendered to a partner, and even a blood brother could be tempted to help himself.
From all indications, the PPP/C Government is content to be spoon-fed by ExxonMobil with numbers furnished by the company. This is insane. This is nothing short of amazing, to be so wholly dependent on the numbers and representations of a partner in a dog-eat-dog business. It is unbelievable that any government, any oil commissioner, would trust its present and its destiny so much to a partner, one with less than a stellar reputation. The record of ExxonMobil in the United States, and in most places where its huge footprint is firmly planted, has generated considerable anger, disappointment, and regret at what the company has presented as its version of accounting. Whether about climate change related documentation, or other oilfield statistics, it has been a troubled history, one that stretches credibility. It speaks of being all for itself, and wringing the last dollar out of an oilfield, project, or contract.
But this is the partner in which the PPP/C Government and its high-ranking people place all their confidence. Truth be told, listening to the carefully presented words and postures of the government, it is obvious that there is greater trust, a more intimate relationship, with ExxonMobil, than with locals. Guyanese critical of how the oil companies carry on their business feel the distaste and wrath of both government and its chief oil people. The savvy operators at ExxonMobil are given a handshake, while concerned Guyanese are given a hard kick.
In a business that has been characterized by knowing insiders and outside observers as cutthroat from the inception, yet the Government of Guyana places its eggs in ExxonMobilâs basket. With the record of oil behemoths in general, and poor host countries, as specific reminders, the government of today and the people at the helm of this massive national wealth are a picture of serenity, where there are abundant opportunities for playing games with oil production numbers and gouging Guyana. Advanced technology, or independent outsiders could help reduce the monitoring deficit. The PPP/C Government, however, dismisses such recommendations. Guyana has been gouged from the beginning by ExxonMobil with its oil. Again and again, the people that are elected to stand as stewards over this oil help in the gouging of the Guyanese people. Monitoring, and not just production, should have been a must, and now rises to high urgency.
Oil Sector Management: https://www.kaieteurnewsonline.com/2024/03/05/oil-sector-management/
Island Hopping Chutney Style: How Indians Thrive in the Caribbean
Jagdeo exposing himself
Mar 07, 2024 Editorial
Kaieteur News â Guyanaâs chief policymaker, Bharrat Jagdeo now has a problem on each occasion that he dares to speak about the nationâs oil and gas sector. When he opens his mouth on oil, there is a dwindling group of Guyanese who believe a word that he says.
Most times that he puts his positions out in public, Guyanese with knowledge and substance challenge what he says, make him look like a loser trying his hand at delivering a winner for ExxonMobil. Part of the problem for Jagdeo is that he chooses to stay silent, and the worst suspicions are cemented about his management of the incredibly rich oil sector. He doesnât speak and share one of his patented and pathetic defenses for ExxonMobil, and he is in trouble. He speaks and delivers his usual unconvincing concoctions, and he makes himself into a bigger laughingstock with Guyanese, including his own voters.
Two Guyanese of distinction took him to task on the burning and worrying issue of an oil spill. How much protection does Guyana have, who is responsible for that protection, and where is the evidence of such coverage, a parent company guarantee no less. Chartered Accountant and attorney-at-law, Chris Ram, and engineer and former Executive Director of Guyanaâs Environmental Protection Agency, Dr. Vincent Adams, have exposed chief policymaker Jagdeoâs representations on what Guyana has for protection in the event of an oil spill. We at this publication assert that Mr. Ram and Dr. Adams shredded Jagdeoâs oil spill insurance statements and reduced him to a figure of blinding weaknesses.
Chartered Accountant Ram examined the financials of ExxonMobil Guyana Ltd (EMGL) and noted that the value of the subsidiaryâs assets amounted to US$7B, and not the US$20B that is being touted by Jagdeo. Many Guyanese have arrived at their own sharp conclusions, as to why their Vice President and their chief policymaker are engaging in these defensive actions for ExxonMobil. But it is only Jagdeo himself, who knows the driving forces behind why he is so much about inflating the companyâs assets here and making himself look pitiful in so doing.
We believe that he recognizes the porous character of his representations of ExxonMobilâs local assets, and his flawed advocacies on behalf of the company. It is why Jagdeo rages and lashes out at women reporters, which is part of his strategy to coverup his faulty facts, his feeble lines of argument. Jagdeo is now his own worst enemy, for whenever he sums up the courage to speak about protection (full) for Guyana, he is like a man without his pants, a leader without much substance.
This was what the former head of the EPA, Dr. Adams, pointed out about Jagdeo on the same disturbing oil spill protection issue. Simply put, what Jagdeo is selling to Guyanese as protection from ExxonMobil is what has already been paid for by Guyanaâs own oil revenues. The billions in assets that the chief policymaker waves in front of Guyanese, like a winning lottery ticket, are what was bought and paid for by Guyanese money. It means, therefore, that Guyana is paying for its own oil spill protection using its own fully paid for assets. In Jagdeoâs scenario, Guyana is rescuing itself, while ExxonMobil is way in the background, probably totally out of the picture.
Meaning, in how it is unfettered and financially uninvolved if an oil spill occurs. This is how Jagdeo entangles himself, weaves his webs for ExxonMobil, which come back to trap him and choke him. It pays to note that the chief policymaker of the Guyanese people is no longer ashamed today of how ridiculous he makes himself look. He simply does not care how agitated and distorted he becomes when he tries these sleights of hand to insulate ExxonMobil from being fully bound to protecting Guyana. A big oil spill we have warned of could become the essence of a national crisis. Jagdeoâs distortions are now plastered across his face, drips from his tone of voice, oozes in his body language.
Jagdeo has lost credibility. There are raging doubts about his commitment to the Guyanese people. This man should not be spearheading the oil and gas sector. Jagdeo is bad for Guyanese.
Source: https://www.kaieteurnewsonline.com/2024/03/07/jagdeo-exposing-himself/
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Aa jaane jaaa....
Happy Shivratri to all those observing and celebrating.
The woman credited as the "first black matron" in the NHS has had her achievement marked with the first official blue plaque outside London. 24/Feb/2024 Daphne Steele has been honoured at the former St Winifred's maternity home in Ilkley, West Yorkshire. Originally from Guyana, Ms Steele arrived in the UK in 1951 and enrolled on a nursing course in south London. Her son Robert Steele said she would be "speechless" to see that a blue plaque had been dedicated to her. The plaque was unveiled by Lord Parkinson, arts and heritage minister, as part of a roll out of the official Historic England scheme. It reads: "Daphne Steele. 1927-2004. Guyanese nurse and midwife. Pioneering black matron in the NHS lived and worked here. This is the first to be placed outside of London and there are many more to come.
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