The Alliance For Change (AFC) says that with regard to the intention of Minister of Finance, Ashni Singh to bring two financial papers before the National Assembly tomorrow, the PPP/C and in particular the Minister himself ought to know that there are specific laws governing the Contingencies Fund and that there will be greater scrutiny now that the PPP/C is in the minority in the House.
Financial Paper No 7/2011 makes a request for supplementary provisions amounting to $2.241 billion, while Financial Paper No 8/2011 is for $3.471billion. The papers appear on the Order Paper for the ceremonial opening of the Parliament tomorrow, when President Donald Ramotar will make his inaugural address to the House.
The funds exceed by nearly $3 billion the amount allowed as the limit from the Contingencies Fund under the FMAA, which sets out detailed rules for public revenues and expenditure.
Section 41 of the FMAA limits the amounts to be drawn out of the Contingen-cies Fund to 2 percent of the expenditure of the preceding fiscal year.
Speaking at its weekly press conference held at the Sidewalk Café yesterday, the party noted that the $5.6 billion being sought through financial papers 7 and 8 of 2011 is money that had not been in the national budget “and which the PPP/C Government would have spent in the latter part of the year.
Earlier in [2011], the Ninth Parliament, with a PPP/C majority had passed financial papers approving earlier spending from the Contingen-cies Fund. The Contingencies Fund is there to address exactly what the name suggests, provide contingency funding in the event of a situation that was not expected or catered for in the National Budget,” the AFC said in its statement.
The party noted that the PPP had used their majority in the House to pass appropriations from the Contingencies Fund “and the AFC suspects that they were counting on a majority to continue their abuse of state funds but the people of Guyana have put an end to their despotic behaviour. The PPP/C will now be hard-pressed to explain these abuses,” the AFC said.
“The AFC wishes to make it clear that the skullduggery of the past will not be allowed to continue. The PPP/C must understand that a different political dispensation now operates and all activities of the Government will come under closer scrutiny. This especially applies to the spending of state funds. The AFC reiterates its zero tolerance for corruption and 100 percent support for transparency and accountability,” the AFC said in its statement.
Observers have noted that the latest two financial papers bring the total sum sought through supplementary funding for 2011 to $18 billion or approximately 12 percent of the total budgeted capital and current expenditure for 2011, if interest and debt repayment are excluded.
