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More than a week after a deal was signed with Government for tax waivers on fuel, the Miners’ body is expected to meet with its members as early as tomorrow to work out the details.GGDMA said it will be meeting its members as early as tomorrow to discuss how it will pass down a fuel tax reduction benefit to its members.According to Colin Sparman,Wholesale China Jerseys, Executive Director of the Guyana Gold and Diamond Miners Association (GGDMA), details such as the requirements for miners and from where the association will be sourcing its fuel are still to be ironed out.Miners will have to prove that they have bonafide operations and are in compliance with regulatory requirements.Government,Nike Air Force One Shoes For Sale, based on appeals of the struggling sector, agreed to drop the fuel tax to 10 percent, from 45 percent, with concessions also granted on spares and equipment. The Mining sector, battling low world prices and falling production, had been targeting fuel costs as one of the biggest hurdles to returning the industry to 2012-2013 levels.Production levels, then, reached an all time high with gold pushing ahead of rice and sugar in the earnings of foreign currency.GGDMA was also able to get the new government to agree to waivers on certain spares and equipment.Just over a week ago, the agreements for the fuel waivers and other concessions were signed in the Ministry of Finance boardroom, between the Guyana Energy Agency (GEA), the Finance Ministry and the Guyana Gold and Diamond Miners’ Association (GGDMA).Present were GGDMA, President Terrence Adams; former GGDMA President Patrick Harding; Guyana Energy Agency (GEA) Head; Mahender Sharma; and Guyana Geology and Mines Commissioner; Rickford Vieira.Junior Finance Minister,China Stitched NFL Jerseys, Jaipaul Sharma, and a representative from the Guyana Revenue Authority (GRA) were also there. The concessions, according to Finance Minister Winston Jordan, were aimed at small and medium scale miners and were granted for fuel and equipment.However, Jordan warned that as the Government was coming to the aid of miners, the miners in turn should do their part by ensuring accurate gold declarations are submitted and that royalty payments are made on time.“Many other people are depending on you. So this cannot be a game where greed and selfishness overtake the national good. We came to the rescue when you asked; this is a lot of revenue that will be given up but we appreciate the contribution that gold has made throughout the years,” Jordan said.“So we’re asking that in return, you do what is right, which is to declare what is there, pay your royalties on time and look after your workers in terms of their NIS and their taxes,” the Minister charged.Describing the move as a small and positive one, Jordan went back to the A Partnership for National Unity/Alliance for Change (APNU+AFC) General and Regional election campaign of 2015. During the campaign season the party had promised that miners would receive fuel concessions.“What is given,Bruce Smith Bills Jersey, much is expected from also. And while I heard (former GGDMA President ) Mr. Harding put out a very strong statement that it was not his people who were responsible for the smuggling of the gold, I think that it is a concern of all Guyanese that 15,000 ounces of gold could be smuggled from this country on a weekly basis,” the Minister admonished.Jordan was referring to the recent revelations of a multi-billion dollar gold smuggling racket involving local miners.He bemoaned the damage that gold smuggling had done to the economy,Wholesale Jerseys Free Shipping, noting that not only was the growth of the economy misrepresented,Wholesale Jerseys Free Shipping, but schools, health centers and developmental projects in the hinterland and in transportation could have been advanced with this lost revenue.Gold had been Guyana’s biggest foreign currency earner. It broke declaration records each year. That was until the world market prices fell two years ago.For this year, declarations have been down by at least 20 percent. As local commercial banks, which supplied start up financing for some miners to purchase their equipment, began to clamp down on operators; many miners were forced to leave the industry.
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