Budget day is August 10

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By Jomo Paul

Finance Minister, Winston Jordan
Finance Minister, Winston Jordan

[www.inewsguyana,.com] – Finance Minister, Winston Jordan has announced that the new APNU+AFC government will be moving to introduce the Fiscal Budget for the year 2015 on August 10.

Jordan made the announcement on Thursday, July 30 during the 5th sitting of the 11th parliament. The budget, which is not expected to be a huge one will propose a slew of reforms to jumpstart Guyana’s economy, provide jobs, wage increases and a stimulus package for the private sector.

The budget will also propose a subsidy to the Berbice Bridge so as to successfully see the lowering of tolls, as was promised by the APNU+AFC on the campaign trail.

The Private Sector Commission (PSC) is pushing for the APNU+AFC government to slash a slew of taxes, during consultations with Minister Jordan to discuss private sector proposals for the upcoming budget.

The consultations centered on a number of issues of concern to the private sector as these relate to infrastructure, energy, the environment and taxation, the sugar and rice industries, the economy and information and communication technology.

 

2 COMMENTS

  1. Dear Editor,

    I am well aware that the coalition group did make a pre-election promise to lower the Berbice Bridge toll, which most users have complained is inordinately higher than even the Demerara Harbour Bridge, or the now discontinued ferry that plied between Rosignol and New Amsterdam.
    Most of us thought the new government would demand the management of the Berbice Bridge considers a voluntary reduction in tolls, given that the minority investors have been been collecting annual dividends while the majority investor, NIS, has not.
    I find it rather disturbing, therefore, that the coalition regime would seek to subsidize the tolls, which not only ensures the minority investors keep reaping their dividends, but taxpayers will now be saddled with the cost of subsidizing the cost of the tolls.
    Government cannot boast of reducing Berbice Bridge tolls if it will pass subsidize costs to taxpayers.
    I wish to submit that if the minority investors who own the bridge in one of Jagdeo’s public-private scam projects will not voluntarily reduce the tolls without any government subsidization, then the people of Berbice in particular, should demand government reintroduces the ferry service and give travelers a cheaper option. After all, how much money exactly did the minority investors put up and how much have they received in dividends to date?
    It angers me further that one of those minority investors is Jagdeo’s best friend, Bobby, who owns the New GPC, which received over US$200 million the last seven years in sole-sourcing state contracts.
    He alone went from a minority shareholder to a majority shareholder in the Berbice Bridge, so whenever dividends are paid out, he makes a huge haul. This is very grossly unfair and is one reason why this government has to stop putting public money into his pocket.
    Bring back the ferry and let river crossers have an option, while saving taxpayers unnecessary costs to subsidize tolls that make hustlers rich. Also, it is time for the NIS to start collecting on its forced investment.
    Jagdeo must never run a government again. Never ever!

  2. all dem thief man dem peeping and smiling , dem happy , new thief in d house , dem pocket look deep and empty lol

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