Gov’t seeking $2B more in supplementary financing

Minister of Finance Dr. Ashni Singh yesterday tabled Financial Paper 6/2012 covering a total of $2 billion in capital expenditure for the Ministry of Housing and Water and the Ministry of Agriculture. The amount covers advances made from the Contingencies Fund from December 18, 2012 to December 31, 2012.

The National Drainage and Irrigation Authority (NDIA) is seeking an allocation of $500 million to meet expenditure associated with flood management and water control. The voted provision in last year’s budget was $1.1 billion. The Ministry of Housing for its Infrastructure Development Programme is seeking the sum of $1.5 billion for the development of new housing areas and improvement to existing housing areas. The voted provision in the last budget was $1.9 billion.

It is likely that the financial paper will be debated at the next sitting of the National Assembly on January 10, 2013.

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