September 28, 2024
By NCN News Staff
During the upcoming parliamentary session, President Dr. Irfaan Ali is expected to reveal measures aimed at combating the global rise in the cost of living.
This announcement will be made at the opening of parliament when the current recess concludes.
Vice President and General Secretary of the People’s Progressive Party/Civic (PPP/C), Dr. Bharrat Jagdeo, stated that the government has allocated a total of 7 billion Guyanese dollars in the 2024 National Budget to mitigate the effects of rising living costs.
When asked if these funds had been utilized, Dr. Jagdeo confirmed they had not yet been spent.
He assured that President Ali will outline specific policies designed to cushion the impacts of the rising cost of living during the parliamentary session.
Finance Minister Dr. Ashni Singh indicated that the funds would be deployed following consultations with relevant stakeholders.
Dr. Jagdeo also defended the government’s decision to provide blanket electricity subsidies to all consumers rather than imposing higher charges on large foreign companies.
He explained that this approach simplifies administration and helps prevent corruption, which can arise from more complex subsidy systems.