The Government has approached the National Assembly for approval of an additional $26 Billion in supplementary provisions to cover a number of initiatives.
Of that sum, the government has already spent $5.1B from the contingency fund to pay severed sugar workers their one-off cash grant and other cash grant initiatives. However, it is now seeking approval for those monies.
On Monday, Minister of Finance, Dr. Ashni Singh, presented Financial Paper No 3, seeking the approval of the House for a total of $5,112,355,201 which was spent from the public purse during the period July 22, 2021 and December 9, 2021.
The Finance Minister also presented Financial Paper, No. 4 seeking supplementary provision on the Current and Capital estimates totaling $21, 477,833,982.
The supplementary budget will be coming up for debate next week even as the government is moving full speed ahead to prepare and present the annual budget early next year.
The move by the Government to seek additional funding is coming a mere six months after the House approved a $21B supplementary budget, which was in addition to the $383 Billion budget which was passed in January.
The advances which were taken from the contingency fund were given to the Ministries of Agriculture, Education and Home Affairs for several projects and cash payout.
With the additional $21 Billion which the government is seeking, it is hoping to get approval for $4B to clear arrears of the Guyana Power and Light, and another $7.7B for the Ministry of Housing to intensify its housing drive by executing infrastructural works in housing schemes.
An additional $440M of that $21B is being sought to finance Amerindian projects.
Additional funding is also being set aside in that sum for works at the Cheddi Jagan International Airport and the National Drainage and Irrigation Authority.