2nd October, 2022 Free Inside
More relief No.106863
–– gov’t slashes gas, diesel prices to $215, $225 respectively per litre
SENIOR Minister in the Office of the President with responsibility for Finance, Dr Ashni Singh, on Saturday announced on behalf of the government a reduction of gasoline and diesel prices at the pump to be charged by the Guyana Oil Company Ltd (GUYOIL). According to a press release from the Ministry of Finance, the gasoline prices at
the pump will be reduced by 20 per cent, moving from $269 per litre to $215 per litre, while diesel prices will be reduced by 15 percent, from $265 per litre to $225 per litre. Those price changes will take effect from today. During the first half of 2022, global oil prices surged more than 50 per cent, increasing from US$77 per barrel at the end
December 2021 to US$120 in June of this year; having risen as high as US$137 per barrel primarily as a result of the Russian invasion of Ukraine, the impact of the dramatic increases in oil prices was significant and given the interconnected nature of the global economy, translated into higher costs of landing fuel in Guyana. In order to mitigate the impact of
rising global fuel prices on domestic consumers and the productive sectors to which fuel is a key input, the government lowered the excise tax rate on both gasoline and diesel from 10 per cent to zero per cent in March of this year.
(See full story on page 03)
‘Agri’ sector gets $95B boost in two years –– President Ali says human, physical resources abundant for further advancement in the sector
THE People’s Progressive Party/Civic (PPP/C), since being elected to office in August 2022, has invested approximately G$95 billion into the agriculture sector, and there are plans to significantly increase both public and private investments in the coming
years. Agriculture has been the backbone of Guyana’s economy for many years, and President Dr. Irfaan Ali has said that the lucrative sector will remain a mainstay, even with oil, as there are abundant human and physical resources to drive develop-
ment in this area. “We have the physical and human resources necessary to drive agricultural development, and improve food and nutrition security. But such an enterprise requires cooperation, and cooperation across all sectors. Let us, therefore, all work
Housing drive catalyses further Enhanced police development in Region Three 17 presence PAGE
guaranteed for Cricket 02 Carnival parade PAGE
together for the development of the local agriculture sector which, for generations, was one of the bedrocks of our economy,” President Ali said in his message on October 1, the first day of Agriculture Month 2022.
(See full story on page 04)