On Thursday Minister of Finance Dr. Ashni Singh is to lead the debate on two financial papers totalling $5.6 billion in expenditure for the latter days of 2011, as Government remains undaunted by charges that the Minister is breaching the provisions of the Fiscal Management and Accountability Act (FMAA) 2003.
The two financial papers were tabled yesterday by the Minister.
According to Financial Paper 7/2011, the Office of the President is seeking an additional sum of $25 million to meet expenditure associated with the conferment of National Awards and other events hosted by the State. Another allocation of 1.533 billion is being sought by the Office of the Prime Minister as an additional subsidy to the Lethem Power Company Inc and the Guyana Power and Light for the purchase of fuel for their continued operation.
The sum of $206 million is being sought to meet additional expenses for the maintenance of drainage and irrigation infrastructure, purchase of fuel and lubricants and spares and services in preparation for end-of-year rains.
Financial Paper 8/2011 totals $3.741 billion and details allocations sought by the Office of the Prime Minister, the Ministry of Public Works and Communications and the Ministry of Education. For the Electrification Programme, the Office of the Prime Minister is seeking $491.5 million as additional inflows. The Works Ministry is seeking an additional $261 million for the improvement of the East Bank Demerara highway and a sum of $2.558 billion for the acquisition of ferry vessels. The Education Ministry sought an additional $160 million for the Education For All – Fast Track Initiative.
In a comment to the Government Information Agency (GINA) yesterday after tabling the financial papers, the Minister described the comments made by newspaper columnist Christopher Ram and former Minister of Finance Carl Greenidge on the propriety of the financial papers as blatant distortions and misrepresentations.
Dr. Singh said the financial papers relating to the Contingencies Fund were well within the legally stipulated limit and that the expenditure met was clearly in accordance with the law. He said that in keeping with Government’s commitment to prudent financial management, all of the expenditure incurred was in pursuit of important national development objectives.