… aiming to pay off $1 billion in debt to GRA
Counting the mountain of debts, the Mayor of Georgetown and the City Council are looking to settle the $1 billion outstanding owed to the Guyana Revenue Authority (GRA).
Mayor Ubraj Narine revealed at a press conference on Friday that the Council engaged the GRA about a week ago on pending financial matters. He identified that while the municipality owes the agency $1 billion, GRA must also return money owed for VAT paid for waste collection. The authority also operates in various fields without paying income.
Since both agencies owe money to each other, the Council intends to find an appropriate resolution. The Mayor said that the Council is trying to create a better relationship with the agencies under its jurisdiction.
“I believe it’s over $1 billion owed to GRA by the Council. These are liabilities that this Council has assumed. We took over $5 billion to $6 billion in liabilities… Last week, when GRA and the Council met, we reached to a conclusion and now we are trying to use more of those years of VAT that we have paid to GRA so that we can make a start.”
“While GRA owes the City Council that money, we also owe GRA. Beyond that, we also discussed that GRA is also occupying the avenue, which they are not paying revenue. We are also looking at Lamaha where the railway embankment is where GRA operates a car park and a temporary license office…We are looking for a good relationship with GRA and other government agencies so that we can work for the betterment of the citizens of Georgetown,” Narine told the media.
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Since 1994, the Council also owes the National Insurance Scheme over $500 million. Payments have since resumed and a plan has been put in place to ensure people get their money.
“NIS has been in debt to the Mayor and City Council since 1994. However, we were met by the Board and payment started from our end to NIS. I believe some staff have already started receiving benefits from NIS.”
When asked, Mayor Narine could not say why SHKB was not paid, but claimed that he “came and fulfilled these obligations”. At the Council level, a decision was made to resume payments, which has already been implemented.
