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…also amends Principal Act to allow search/seizures not only at ports of entry If Minister Anil Nandlall recognised the need to reduce the power of Ministers under the amendments to the Anti Money Laundering and Countering the Financing of Terrorism Bill, A Partnership for National Unity’s, Joseph Harmon,Wholesale Jerseys China, says “we must also be able to make changes too.”Finance Minister,NFL Jerseys China, Dr. Ashni SinghHarmon was speaking to this publication following Saturday evening’s meeting of the Special Select Committee,Jerseys NFL Wholesale China, and said that APNU believes that there is still too much draconian power in the hands of the Ministers and they will be looking to have these reduced as well.Harmon reminded that when the recommendations had first come to Guyana, Nandlall was of the opinion that none of the recommendations were to be touched as they had been handed down from the Caribbean Financial Action Task Force (CFATF).This position by Nandlall, Harmon noted, has changed.The same day Nandlall indicated by way of a statement that there is no different regime of powers resided in any officer in the Guyana legislation which are not given in similar legislation which is extant in countries across the globe.“In fact, I refined many of the recommendations which came from the CFATF from which the Bill was coined with a view of reducing certain powers which were recommended to reside with Ministers in the Bill.”He cited an example, in the CFATF recommendations, the Attorney General was to have powers to instruct a commercial bank to freeze any account held at that bank which the Attorney General has reasonable suspicion to believe contains proceeds of crime.APNU’s Joseph Harmon“I refined that recommendation to say that the Attorney General must apply ex parte to a judge for an order to freeze the account, and must be able to satisfy that judge that he has credible and reasonable basis to suspect that the account contains proceeds of crime,” said Nandlall.According to Nandlall, “I specifically, shifted that power from the Attorney General to a Judge, because I believe that the Executive branch of Government should not enjoy such plenitude of power over the citizenry as there would be a likelihood of abuse.”APNU holds the position that despite this move by Nandlall,Cheap Jerseys Free Shipping, there are several other recommendations that still give the Ministers too much power that can be abused.Meanwhile following Saturday’s meeting, Harmon, said that there is now significant progress being made at the level of the Committee and pointed to the fact that apart from the previous position held by Chairperson of the Committee, Gail Teixeira, that they were to only address the Bill and not the substantive Act, this too has now changed.Harmon said that according to the Substantive Act,Soccer Jerseys China, Customs and the Financial Intelligence Unit were only allowed to make and effect search and seizures at the ports of entry and dealt only with import and export.Minister of Legal Affairs, Anil NandlallAccording to Harmon, there is money laundering within the boundaries of Guyana and as such the authorities should be able to target those as well.He said that to limit this authority to just exports and imports into Guyana was not enough in the fight against Money Laundering.Harmon told this publication that on Sunday (yesterday) when the Committee would have met again, APNU’s Finance spokesperson would have presented the text of the amendments to the committee for adoption.Harmon said too that another meaningful change that the Committee would be effecting is that only very senior ranks should be allowed to conduct searches and seizures of money with entities and persons in Guyana.APNU Executive Member said that this removes the possibility of a junior rank such as a police constable seizing people’s money under the guise of anti money laundering.This he said must only be done by these senior ranks and FIU officials, among others.But the move to also amend the existing substantive Act along with the CFATF recommendations is not sitting well with the Government.Finance Minister, Dr. Ashni Singh, speaking with the state media following the meeting on Saturday,Cheap NHL Adidas Jerseys, bemoaned the actions by the Opposition as more delaying tactics at the eleventh hour.Parliament will meet today but it is unclear whether the Bill will be returned to the House, even as the Financial Action Task Force (FATF) also begins its review in Paris, France.Dr. Singh told the state media that the move to also amend the Substantive Act is a blatant and undisguised attempt to frustrate the pa


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…Guyana could lose $3.2B in exportsA quarrel is brewing between the US and regional rum makers. This quarrel has engaged the attention of the Caribbean Community (CARICOM) because the rum makers are worried.CARICOM’s Council for Trade and Economic Development (COTED),Wholesale NFL Jerseys China, following a two-day meeting in Guyana which ended yesterday, called on the United States to engage early with Caribbean rum-producing countries with a view to achieving an outcome that will support the continued competitive access for Caribbean rum to the US market.The issue has to do with US Virgin Islands and Puerto Rico,China NFL Jerseys, two US territories, being allowed to “unfairly” use a tax rebate from the US Federal Government to provide benefits to companies to produce and market rum for the US market.The matter had been engaging the West Indies Rum and Spirits Producers Association Inc. (WIRSPA) and there were reports that the matter would have been taken to the World Trade Organization (WTO).CARICOM wants to US to engage the region’s rum producers in talks over worry about unfair subsidies.According to CARICOM, its trade arm was clear that rum production and export are critical to the social and economic well-being of the region.“In addition to being the largest agriculture-based export industry in CARICOM, the rum industry is a substantial employer and a major contributor to foreign exchange earnings and government revenues.”The statement said that CARICOM continues to have serious concerns about the threat to the competitiveness of Caribbean rum in the United States (US) market, resulting from the massive subsidies provided by the governments of the United States Virgin Islands (USVI) and Puerto Rico to multinational rum producers in those territories.“The nature and scale of these subsidies are such that they threaten to distort rum markets not only in the US but elsewhere.”Puerto Rico produces Bacardi while the USVI is known for Captain Morgan.“Time is not on the side of the Caribbean rum industry. Given the likely deleterious effect of these subsidies on the long-term viability of an industry which is of such critical importance to the economic fabric of so many countries in the Region,Cheap NBA Jerseys Wholesale, the COTED supports strongly the deep commitment of CARICOM countries to pursuing all avenues available to secure a resolution of this matter that restores the competitive balance in the marketplace.”Guyana’s two rum makers are the Demerara Distillers Limited and Banks DIH Limited.The issue had deeply worried rum officials here, with DDL saying that WIRSPA was pursuing it at a number of levels.Chairman of the Barbados Rum Committee, Dr. Frank Ward, has reportedly said that the country was facing difficulties in competing with the low prices from the two US territories. He warned that if the situation is not dealt with immediately it could result in the demise of the rum industry not just in Barbados, but throughout the Caribbean. Barbados rum export industry is reportedly worth US$50M a year.In the case of Guyana, while in 2011 its total rum exports were 3.8 per cent of total exports, rum is significant because of the number of people employed by the industry (4.6 per cent of the country’s work force),Cheap Jerseys From China, according to Sir Ronald Sanders in a recently published column.The subsidy issue would ultimately affect WIRSPA’s members market in the European Union.According to Sanders,Wholesale Jerseys, when losses from the US market – that are now very real because of the actions of the USVI and PR – are added to the potential losses from the EU market, on the strength of 2011 figures, the Dominican Republic remains the biggest loser per annum in money terms (US$88.2 m),cheap nfl jerseys, Bahamas second (US$34.9 m), followed by Jamaica (US$25.4 m), Barbados (US$25.3 m) and Guyana (US$16.08 m).Guyana is known for its award-winning El Dorado rum.CARIFORUM governments, Sir Ronald reported, have tried talking with the representatives of the US Trade Representative’s office and they have got no indication that the US government will act to stop the actions of the USVI and Puerto Rico.?(Leonard Gildarie)


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