Govt will not let Guyanese business be frustrated – Finance Minister

…says Opposition wants to hinder development

Wrapping up the parliamentary debate on Budget 2022, Senior Minister with Responsibility for Finance, Dr Ashni Singh late Friday night declared that the People’s Progressive Party/Civic (PPP/C) Government would not let the A Partnership for National Unity/Alliance For Change (APNU/AFC) Opposition frustrate the development of Guyana.

Over the past week, Members of Parliament from both sides of the National Assembly have been debating the massive $552.9 billion 2022Budget, which was presented to the nation last week and has since been dubbed as the foundation for Guyana’s transformational trajectory.
Dr Singh on Friday concluded the debate by pointing out that this moment in Guyana’s history was a critical turning point, adding that the coalition Opposition missed an important opportunity to contribute to it.
“We are dealing with serious business of building our country and transforming our country… This is serious business and when you come to this House to debate the National Budget, especially a budget as important as this, you have an obligation and responsibility to the people who put you here to take the task seriously… The 30 [Opposition] Members who spoke sadly missed the opportunity to participate in meaningful and sensible debate on Budget 2022. However, this People’s Progressive Party/Civic Government will not let the people’s business be frustrated. We will proceed with implementing this transformational budget,” he asserted.
The Finance Minister stated that the difference between the PPP/C Government and the former coalition Administration was that the current Dr Irfaan Ali-led regime was hard at work while its predecessor was selling “pipeline dreams”.
According to him, any objective-minded person examining Budget 2022 will conclude that it outlines a historic and unprecedented transformation plan for Guyana and unparalleled benefits for its people.
“This government is a listening government …and we listened to all of the people of Guyana… Not only are we a listening government but we listened to all the people of Guyana – not like APNU/AFC who only used to listen to themselves,” he posited.
Minister Singh explained that Budget 2022 outlines an agenda for transforming Guyana in a way that generations of Guyanese have been waiting for.
During his presentation last week, the Finance Minister had said that Budget 2022 – titled “Steadfast Against All Challenges, Resolute in Building Our One Guyana” – has two main goals: to ensure the urgent development needs of the country are met in the shortest possible time and to guarantee the long-term economic well-being of the nation.
Among the exciting measures announced aimed at addressing the rising cost of living is the increase in old age pension and public assistance as well as cash grants for schoolchildren to $30,000 per child. It also contains an increase in the income tax threshold to $75,000, reduction of fuel prices and billions of dollars for new and rehabilitated public buildings such as schools, Police stations, and hospitals.
However, the hallmark of Budget 2022 is the investment in several landmark projects of the PPP/C Government including the gas-to-shore facility, the new Demerara Harbour Bridge, Amaila Falls Hydro Project and a series of major road infrastructure throughout the country.
These will be funded with the $126.7 billion withdrawal from the Natural Resource Fund (NRF) – monies Guyana has earned over the past two years from oil production in the Stabroek Block offshore.
Dr Singh on Friday night defended the use of the oil funds to propel the country’s developmental agenda after there had been widespread criticisms from the coalition Opposition.
In fact, former Opposition Leader Joseph Harmon, who wrapped up the APNU/AFC coalition’s debate presentations, condemned the PPP/C Government for recklessly moving to withdraw the monies.
He, like many of his Opposition colleagues, questioned how the funds would be spent and called for clarity on this.
In response, however, the Finance Minister reiterated what many of his colleagues on the Government’s side of the House have been arguing over the past week. He contended that every cent that is being used from the NRF would be accounted for.
According to Dr Singh, all the “hullabaloo and noise” being created by the coalition Opposition over the use of the oil funds are just a means of hindering the developmental agenda of Guyana.
“The real crock of the matter is the APNU/AFC and their surrogates want to frustrate development in this country as they have always done. Every dollar to be withdrawn from the Fund is subject to parliamentary scrutiny and appropriation,” the Minister argued, adding that this was unlike what the coalition Government had in its 2019 NRF Act.
He went on to describe the coalition’s legislation, which has since been replaced by the PPP/C’s 2021 NRF Act, as a grave, vulgar perversity as he detailed the many deficiencies it contained.
With the budget debate concluded, the budgetary process will continue on Monday with the commencement of the Consideration of the Estimates of Revenue and Expenditure for the 2022 fiscal year. This will also run for five days and the National Assembly will scrutinise the allocations to the various Government and State agencies.