Chinese enterprise to buy Government’s 20% shares in GT&T.

Georgetown- Cabinet has made a decision for Government to sell it's 20% share for US 30 million dollars in the Guyana Telephone and Telegraph Company. The Chinese Enterprise that has shown the interest in buying it will be expected to to pay US$25 million of the US$30 million up front, and the remaining US$5 million over the course of three years. Reasons behind giving up an annual gain of US 2.5 million during the past five years has been given as fluctuating stock market. Cabinet Secretary Dr. Roder Luncheon said;  “I think if you have been a purveyor of the stock market, you would quite accept that you’re here today and gone tomorrow, so the analysis had to take in consideration of the historical, but also trends.”