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Has Mr. Singh been entirely honest with Parliament
Dear Editor,
Kaieteur News – Minister of Finance Ashni Singh continues to make the claim that “not a single soul has proffered or ventured a number (formula) to represent what would have been transferred under the APNU+AFC’s Natural Resource Fund Act.”
It is of course false since the attached chart prepared by his own ministry was circulated during the extensive consultations on the NRF. The question then is whether Mr. Singh has been entirely honest with Parliament since it would be hardly likely he has not seen this document?
What is clear is that the withdrawal formula was designed to be cautious in expenditure for two reasons: the need to preserve national savings in the event of a downturn in oil prices or a cataclysmic event, such as COVID-19, and secondly so as not to inject massive amounts of petro-dollars into such a small economy.
The spendthrift PPP/C seems not to care about these dangers and we are already seeing an economy overheating with food and other prices rapidly rising. Sadly it will be the working poor who feel the brunt of this inflation while the crony capitalists line their bulging pockets.
Yours sincerely,
Francis Newton
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