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Ashni Singh seeks Parliament’s approval for some $5.6B
…money was already used from Contingency Funds in 2011
Two months into the New Year and even before the administration details its 2012 budget, the
Finance Minister Dr Ashni Singh
Finance Minister is looking to have the new Parliament approve some $5.6B in advances made from the contingency funds last year.
That approval is for monies expended by the Bharrat Jagdeo administration for the period October 25th to December, 31st 2011.
Regional and General Elections were held on November 28th 2012 and the life of the 9th Parliament, which should have considered those expenditure for approval, came to an end prior to the elections.
While the details for which the approval being sought is still unknown, according to the National Assembly’s Order Paper set for the ceremonial opening this Friday by Head-of-State Donald Ramotar, the Finance Minister is expected to circulate the two financial papers.
The Financial Paper for Supplementary Provisions which is the seventh such request for 2011, points to a request for $2,240,901,071.
A subsequent Financial Paper No#8/2011 is also to be tabled by Dr Singh for a request of $3.471M, at which point in time the specific details such as which Ministry would be responsible for what allocation will be disclosed.
The then opposition leader Robert Corbin had on more than one occasions lambasted the administration’s use of the contingency funds, saying that debates for such financial papers are but a mere formality to rectify the books as the monies have already been spent.
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