Demerara Waves Online News- Guyana Riding on the Crest of Truth
Last Updated on Sunday, 21 January 2024, 0:46 by Denis Chabrol
As Guyana gradually enters the general election campaign season, the joint opposition on Saturday sought to rally public rejection of government’s GY$1 trillion budget on the grounds that it does nothing to counter spiralling cost of living but puts more than 100 billion in the hands of a small group of contractors.
The Alliance For Change (AFC), Working People’s Alliance (WPA) and the People’s National Congress Reform/ A Partnership for National Unity cashed in on the opportunity to promise Guyanese more monies in their pockets if the People’s Progressive Party Civic (PPPC) is voted out of office in 2025.
WPA Executive Member, Kidackie Amsterdam said if his party is part of a new government, it would push for the disbursement of US$5,000 per month to each household in line with Distinguished Economics Professor Clive Thomas’ proposal in August 2018.
In his address, Opposition and PNCR Leader, Aubrey Norton said that in addition to increasing agricultural production in Guyana’s several regions, an APNU+AFC government would transfer funds to ordinary Guyanese. “The APNU+AFC in government will transfer significant funds to the people of this country. We know that the economy can afford it,” he told an opposition meeting on the rising cost of living.
He also recommended that government revamp the salary increase formula to allow for high income earners to receive smaller pay hikes compared to those who earn less. If government was interested in countering the cost of living, he said they would have accelerated agricultural production. Though government has promised to engage commercial banks to get low-interest loans of up to GY$5 million for small businesses, Mr Norton criticised government for not doing sufficient in that regard.
AFC Leader, Khemraj Ramjattan told the at least 700 persons who attended the joint opposition’s cost of living public meeting at the Burnham Basketball Court that an estimated GY$121 billion was set aside for 100,000 Guyanese– 54,000 government employees, 40,000 old age pensioners and recipients of public assistance- in the 2024 National Budget. He said that was in stark contrast to the allocation of monies for capital expenditure totalling GY$668 billion. “That money will go to a set of contractors and we only get about 1,000 contractors who win contracts in a big way in Guyana…A contractor makes about 20 percent profit on every deal,” he said. Mr Ramjattan said that means that the 1,000 contractors would get GY$133 billion and 100,000 would get GY$121 billion. “Isn’t that thievery? Isn’t that discrimination?,” he asked rhetorically.
Mr Elson Lowe, Economics Advisor to the Opposition Leader, said government in the 2024 National Budget is increasing the package of expenditures by 46 percent and “has no interest in the cost of living.” Mr Lowe, in his electioneering pitch, promised that a PNCR-led coalition administration would hire “thousands and thousands of Guyanese” to gather data to help with policy making.
AFC Economics and Finance spokeswoman, Juretha Fernandes questioned how it is that the official inflation rate could have been 2 percent in 2022 and 2.5 percent last year. She also promised that the opposition would again do better if elected in 2025. “We will go back in office and we will do it again and we will do ore because we will have the oil money now,” she said.
Though the Guyana Elections Commission (GECOM) is yet to pronounce on its readiness for general and regional elections, Vice President Bharrat Jagdeo has said Guyanese would be going to the polls in November, 2025. Mr Norton had, however, said on more than occasions that elections would be held in 2024.
The Irfaan Ali-led administration has increased Old Age Pension and Public Assistance by GY$3,000 each. In terms of cost of living relief, government has set aside GY$7 billion to be disbursed later this year to Guyanese but has not said how that would be done. Government workers would by yearend know what will be the salary increase retroactive to January, 2024. The cash grant for over 200,000 children in public and private schools has been increased, and children and the elderly will be provided financial assistance to test their eyes and, if possible, assist with buying spectacles.