Govt. dips into contingency fund for $1.9B to pay for GuySuCo operations, security charges

Dec 12, 2023 News

Kaieteur News – Senior Minister in the Office of the President with Responsibility for Finance Dr. Ashni Singh on Monday presented Financial Paper Number 4 to the National Assembly, which caters for $1,899,647,334 Contingency Fund advances for the period October 1, to December 31, 2023.

The Financial Paper catered for advances for various agencies, including the Ministries of Foreign Affairs and International Cooperation, Home Affairs, Agriculture and Education. The advance delineates $1,867,917,334 for current expenses and $31,730,000 for capital expenses.

According to the document, the bulk of the allocation—$785,808,944—was used for heightened security charges across 14 government facilities in regions One, Two, Six, and Nine.

Senior Minister in the Office of the President with Responsibility for Finance Dr. Ashni Singh

The government also gave account for $643,690,000 which was used for Guyana Sugar Corporation (GUYSUCO) for operational costs. It should be noted that in August, the National Assembly approved $1.5 billion for GUYSUCO, specifically to revitalise various estates, and reopen the Rose Hall estate.

Additional allocations encompass $382,418,390 for contributions to the Regional Security System (RSS), $20,000,000 for hosting the Annual Caribbean Examination Council governance meeting and regional awards ceremony and $24,000,000 for fuel and lubricants for the Guyana Fire Service (GFS).

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Contingency Fund, Dr. Ashni Singh, operations, security charges, Senior Minister in the Office of the President with Responsibility for Finance

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