Absence of Money Laundering Legislation threatens Mining Sector – Persaud

[File Photo]
Minister for Natural Resources and the Environment, Robert Persaud.
Minister for Natural Resources and the Environment, Robert Persaud.

[www.inewsguyana.com] – Minister of Natural Resources Robert Persaud says the opposition’s non support to the Anti Money Laundering and Countering the Financing of Terrorism Bill will greatly affect the Mining sector.

At a press conference on Thursday September 27, Persaud explained that miners and investors are fearful that Guyana could be blacklisted which will in turn affect their financial transactions between the local and international banks. And this he pointed out is an area of great concern for his Ministry.

Minister Persaud says in addition to international financial transactions, the non support of the bill will also affect local companies wishing to source equipment from outside of Guyana, since the risks of interruption, delays and even cancellation are greater. He is therefore hoping that the opposition would recognize the significant damage their actions could have on the Guyanese economy.

Meanwhile, the Alliance for Change today signaled its intention not to support the Bill in the next sitting of Parliament, unless government moves to establish the Public Procurement Commission. [Akash Ramlackhan]



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