The National Assembly has greenlighted contingency fund advances totalling over $8.5 billion for agencies under the Office of the Prime Minister and the Ministry of Agriculture, for April 1 to July 30, 2024. Contingency funds are created to help cope with any unforeseen circumstances.
The Irfaan Ali government in February passed a $1.146 Trillion Budget. During the budget debates the Opposition did forecast that despite the boast of the 2024 budget being the largest in the nation’s history, and the largest than all previous budgets combined, Government will return to the National Assembly for more money.
Financial Paper No. 1 of 2024 was proposed by Senior Minister within the Office of the President with Responsibility for Finance and Public Service, Dr Ashni Singh when the National Assembly met today.
$4 billion was approved by the House, which was utilised to purchase 547,000 barrels of oil for the Guyana Power and Light (GPL).
Despite the huge spending Guyana continues to be plagued by power outages (blackouts). For many if this is not a daily occurrence they are without electricity for days.
Prime Minister Brigadier (Ret’d) Mark Phillips, appearing before the Committee of Supply to defend the sums, said the monies were expended to ensure the continued power supply to GPL’s thousands of consumers.
Responding to questions posed by the Opposition, Phillips said “The fuel was supplied to the Guyana Power and Light and it was utilised throughout the Demerara-Berbice Interconnected System (DBIS).”
He also said $400 million of the $4 billion, was utilised for other fuel-related costs.
Minister of Agriculture, Zulfikar Mustapha appeared before the Committee to defend the allocation of $4.5 billion outlined in the financial paper.
His ministry gets $524 million for operational costs of the Guyana Rice Development Board (GRDB). Reasons cited for the additional spending include paddy bug infestation, El Niño effects, and the need for irrigation works in rice cultivation. The minister said these required millions in funding.
$4 billion was also approved today for the beleaguered Guyana Sugar Corporation (GuySuco). The excuse this time is that like the rice industry, the sugar industry also suffered from the effects of El Niño.
Approval for the spending was a forgone conclusion given Government one-seat majority in the National Assembly.
Meanwhile struggling public servants and teachers continue to be denied a livable wages/salary. Their pleas to respect their right to collective bargaining continue to be disregarded by the People’s Progressive Party (PPP) that once promoted itself as working class.
The disparity in economic allocation and denied opportunities for economic upliftment for the poor and working class typify Guyana’s tale of two societies.
A deeper look into the country’s social dynamics reveals the problems have racial underpinnings. In Guyana ethnic groups have traditionally gravitated to various sectors or are hired in various sectors of the economy. The disciplined services, teaching and public sector is dominated by African Guyanese. The sugar, agriculture and private sector is dominated by East Indian Guyanese. The PPP government is East Indian dominated.
