For the second time in just over a month, Finance Minister Dr Ashni Singh on Thursday tabled two more financial papers in the National Assembly, this time seeking approval for over $8 billion in supplementary provisions for current and capital expenditure for last year.
The total sum covered in the two financial papers is $8,245,758,278, and the majority of this amount has been dedicated to the housing sector. The two papers are slated to be debated on Monday.
Finance Paper No.5/2009 proposes that a total of $1,449, 775,969 in supplementary provisions be approved for current and capital estimates between August 12, 2009 and December 31, 2009. This sum of money has already been advanced from the country’s Contingency Fund. The amount of $883,192,352 has been spent for various projects under current estimates and $566,583,617 for expenditure classified as capital estimates.
Of the amount already expended for Current Estimates almost half of it, $433,992,352, has been spent on meeting additional expenditure for the procurement of drugs and medical supplies. Originally, $950,000,000 had been set aside for this purpose. A further $40 million has been given to the Georgetown Public Hospital Corporation in addition to the $1 billion originally awarded to meet the additional expenditure for the procurement of drugs and medical supplies. The health allocation is likely to prompt questions as there were grave concerns last year over the manner in which procurement contracts for drugs and medical supplies were handled by the Health Ministry.
The Public Works Ministry received $200 million under the description of “subsidies and contribution to local organisations”. The purpose was to provide financial support to the Transport and Harbours Department.
In the agriculture sector, a further $190 million was spent to meet the increased expenditure for the maintenance of drainage and irrigation structures. The sum of $992 million was originally budgeted for this purpose.
Meanwhile, the Public Service Ministry received $15 million to meet expenditure in connection with the chartered flight for the Cuban scholarship awardees. Initial voted provisions for this purpose were $188,369,000.
Sums to the tune of $1,200,000 were advanced to the Ministry of Amerindian Affairs to meet expenditure in relation to discharged patients returning to hinterland communities.
A further $3 million was disbursed to meet additional expenditure for fuel for the Guyana Fire Service.
For the $566,583,617 already disbursed under capital expenditure $353,548, 617 was given to the Office of the President to install fibre-optic cables and terminal equipment. No previous provisions had been awarded for this purpose.
An additional $23 million was awarded to the Public Works Ministry towards its Bridges Rehabilitation Project. This is in addition to the $890 million previously awarded. Additionally, $184,500,000 was given to the Moleson Creek Road project, in addition to the $1,784,200,000 originally given and the $300 million subsequently disbursed under supplementary provisions.
The Ministry of Foreign Affairs was given $5,535,000 towards purchasing a motor vehicle. $11million had previously been allocated towards this purpose.
Meanwhile Financial Paper No.6 proposes that an additional $6,795,982,309 be approved for Capital Estimates for the period ended December 31, 2009.
$4 billion of this amount has been allocated towards provisions for housing development in additional to the $430 million which was budgeted previously. Meanwhile $1.6 billion has been allocated under “additional inflows” for the Low Income Housing Programme Revolving Fund. Previously $400 million had been budgeted for this purpose.
A further $1 billion has been provided for the country’s Electrification Programme which falls under the Office of the Prime Minister. The original provision for this programme was $4,539,065,000.
Meanwhile $18,099,352 was allocated to the Basic Needs Trust Fund, with the Finance Ministry being the executing agency.
The Ministry of Education was granted additional provisions in excess of $177 million. $144,389,700 was allocated as provisions for the Education for All Fast Track Initiative. Previously additional provisions of $68.5 million had been granted while the initial provisions were $600 million. A further $33,493,257 was allocated to the Basic Education Access & Management Support Programme. The original provisions awarded were $497,735,000 and a further $573,012,355.
Last month, the National Assembly approved over $4.6 billion in supplementary provisions for current and capital expenditure. In August the House passed two financial papers with supplementary provisions totaling $2.7 billion.
Months earlier, Finance Minister Dr Ashni Singh announced a $128.9 billion budget, which was the largest in the country’s history. (Mark McGowan)