Gov’t makes gold standard obligations compulsory



By Kurt Campbell

C-Users-luism-Desktop-gold-jewelry-resized-600[] – The non – enforceable gold standards obligations which Guyana voluntarily adopted in 2010 are now compulsory and legally enforceable, according to Head of the Presidential Secretariat Dr. Roger Luncheon.

Dr. Luncheon explained that the gold jewelry specifications, which were adopted as part of a CARICOM initiative will be enforced by investigators at the Guyana National Bureau of Standards (GNBS).

This means that gold jewelry producers and retailers will have to ensure that they make available to the purchaser, detailed information in relation to the karat content of the material and alloys used in perfecting the structure.

The Cabinet Secretary explained that representation was made by Tourism, Industry and Commerce Minister, Irfaan Ali to Cabinet yesterday and it was agreed upon unanimously.

He said the review of the four year period focused on the tourism product; adding that it was important to eliminate whatever possibilities there was that Tourists may not necessarily obtain what they paid for.

“We have a significant tourism appeal… that essentially was the motivation,” Luncheon said, adding that “after a series of consultations and engagements with retailers in the gold economy the understanding was reached based on which cabinet made standards absolute.”

He cautioned that the move from voluntary to compulsory must not be seen in a negative light; explain that gold producers were to a large extent following the voluntary specifications.



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