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HomeNewsAfter hours of questioning, National Assembly approves $61B supplementary funding

After hours of questioning, National Assembly approves $61B supplementary funding

Following a series of rigorous questions and answers, the National Assembly late Wednesday night approved some $61 billion in supplementary funding intended to finance additional developmental projects.

These funds are for the period ending December 31, 2023. Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh, presented the Financial Paper No. 3 of 2023 at the 66th sitting of the National Assembly last Thursday.

The lion’s share of the supplementary funding- $33.3 billion, is expected to finance projects undertaken by the Ministry of Public Works.

These projects include the construction of the Wismar Bridge, the construction of urban and community roads, as well as fortification of sea and river defence, and the restoration of a number of wharves.

Additionally, funding for the Office of the Prime Minister of over $5 billion was approved to advance power regeneration and data management activities.

This amount will facilitate the advancement of transmission and distribution initiatives for the Gas to Energy Project, as well as continued financial support to the Linden Electricity Company and the Lethem Power Company.

For the Ministry of Agriculture, $5.6 billion was approved.  This amount will see $4 billion being spent on urgent irrigation and drainage works in Regions Two , Three, Four, Five and Ten.

Another $1.5 billion will be expended on the rehabilitation of abandoned lands at Albion, Blairmont, Rosehall and Uitvlugt estates.

The $61 billion supplementary fund also accounts for an additional $2 billion for the Ministry of Education, $500 million for the Ministry of Housing and Water, $1.4 billion for the Ministry of Home Affairs, $14 million for the Ministry of Amerindian Affairs, and $1 billion for the Ministry of Health, among other sectors.

[Extracted and modified from the Department of Public Information]



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