Finance Minister vows ‘no massive expenditure’ to be incurred in anticipation of oil revenue

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Winston Jordan, Guyana's Minister of Finance

This is the view of Minister of Finance, Winston Jordan, as he was at the time responding to the Guyana Election Commission (GECOM)’s request for additional monies to aid in the hosting of Local Government Elections, which is set for November 12, 2018.

He said, “I think the discipline has to be done now, seen that oil is coming, because everybody feels that oil is coming and therefore, you can get involved in all of these massive expenditures or debt. Well, not under my stewardship.”

In a media release issued on Friday, the elections body indicated that the 1.2 billion dollars it was allocated for these elections is insufficient and therefore, it would be approaching the Ministry of Finance shortly for additional funds.

But Mr. Jordan, in an invited comment by media operatives, said caution is needed in how limited resources are allocated.

“We have enough challenges physically at the moment we must find the money to pay the second half of the severance and you know of all the issues we have and the last thing we want is GECOM coming saying they want more money,” he stated.

Additionally, the Finance Minister said, “They need to make better use of their money, recognizing that we don’t have a lot of money.”

He said, “Every time somebody comes to me we have to cut somebody else’s budget it is not as if we can find monies can’t go taxing people we can’t go borrowing more than we are required to do.”

GECOM was allocated an overall 2.9 billion dollars and out of that sum, 160 Million dollars was allocated for capital work, while 1.6 billion for the normal operations of the commission.

The Commission said the remaining sum of 1.2 billion dollars was allotted for the conduct of LGE in November 2018.

The elections body said in 2016, $1.5 billion was expended for LGE

1 COMMENT

  1. Out of this man’s mouth always/most times cometh common sense. He may be over ruled by circumstances but you’ve got to give him his ‘propers’ for exercising prudence

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