Government is seeking $2.6B in extra provisions including $500M for the Amerindian Development Fund and $209M for severance payments to former Guyana Sugar Corporation (GuySuCo) Diamond estate workers as well as $200M for a housing fund for teachers.
Finance Minister Dr Ashni Singh yesterday tabled in the National Assembly, Financial Papers No.3/2011 and No. 4/2011. Singh is asking the House to approve the spending of $2 647 427 033, a large portion of which has already been spent.
Financial Paper No. 3/2011 covers current and capital estimates from June 2, 2011 to August 30, 2011 and amounts to $2 104 478 083. Current estimates total $951 215 115 and Capital estimates $1 153 262 968.
For current estimates, the Finance Minister is asking for an additional $450 623 677 for expenditure associated with the increase in acquisition cost of fuel for LINMINE Community Power and Kwakwani Utilities Inc.
He has also asked for $104M to purchase supplies to aid flood victims for two months in Regions Six, Nine and Ten.
In addition, $135M is being sought to financially support the Georgetown Mayor and City Council to meet outstanding liabilities, beautify the city and clean up the Le Repentir Cemetery.
$209M has been requested to assist GuySuCo to pay severance for sugar workers of the Diamond sugar estate and $10M for financial support to the African Cultural Development Association to finance activities in connection with the International Year for People of African Descent. Various other sums were requested for other activities.
For capital estimates, $500M was requested for the Amerindian development projects and programmes in addition to the $103M already budgeted for. $150M has been requested for the rehabilitation of additional roads under the Georgetown Roads project. $84.9M has been requested to replace the use of ballast sand with half inch aggregate stone in cell one at the Haags Bosch Sanitary landfill and to conduct related studies. $82.2M has been requested for the procurement of critical school furniture. Various other sums have also been requested for other activities.
In Financial Paper No. 4/2011, Dr Singh is requesting $542 948 950 for Capital Estimates for the period ending December 31, 2011. $242.9M has been requested for the modification of the Supenaam and Parika stellings to accommodate roll on/off vessels on top of a $165M already approved.
In addition, $100M has been requested to acquire replacement spares for the rehabilitation of vessels on top of $125M already budgeted for, for the reconditioning of ferry vessels.
A further $200M has been requested for the establishment of a housing revolving fund pursuant to the Memorandum of Understanding entered between the Ministry of Education and the Guyana Teachers’ Union.