As the scrutiny of budget estimates and expenditures continues in the Committee of Supply of the National Assembly, the allocations to the Ministry of Tourism, Industry & Commerce have come under question, particularly in relation to the Small Business Development Fund.
In this year’s budget, $450 million has been allocated to the Small Business Development Fund, earmarked for providing 100 loans and 1300 grants.
Opposition Member of Parliament Cathy Hughes raised concerns about the increased allocation of $150 million to the fund and sought clarification on the number of beneficiaries expected.
Minister Oneidge Walrond addressed the concerns, providing a detailed breakdown of the allocation.
She also drew comparisons between the current budget and the period between 2015 and 2020 under the previous coalition government.
The opposition further requested information on the recipients of the grants. While Minister Walrond committed to providing details, she expressed reservations about disclosing personal information, citing concerns about potential targeting of beneficiaries.
Another point of discussion was the $3.3 billion allocation for industrial development in Wales, Region Three, and advance works in Regions Two and Ten.
Minister Walrond explained that a decision was made to find a more suitable area for industrial development in Region 10, as the initial location in Amelia’s Ward was found to have substantial bauxite deposits.
At the conclusion of the examination of the estimates, the overall sum allocated to the Ministry of Tourism, Industry & Commerce was approved.
This includes $530 million designated for the construction of the tourism and hospitality institute.
The ministry remains focused on promoting small business development, industrial growth, and enhancing the tourism sector in Guyana.