Tag Archives: Consolidated Fund

Budget Debate: “In two or three years the economy will flat-line”- Jagdeo forecasts

“In two or three years the economy will flat-line”- Jagdeo forecasts

  • Saturday, 22 August 2015 – Demerara Waves
  • Photo: PPP parliamentarians walking out of the National Assembly’s Chamber.

PPP parliamentarians walking out of the National Assembly's Chamber.

Immediately after pledging solemnly to work with the government to improve the lives of Guyanese, Opposition Leader Bharrat Jagdeo and his colleague People’s Progressive Party Civic (PPPC) parliamentarians walked out of the House.

During in his estimated 90-minute contribution to the 2015 National Debate, Jagdeo lambasted the Finance Minister Winston Jordan for crafting a budget that would fail to stimulate the economy.
“It does not respond to the concerns of the people. It doesn’t focus on creating jobs, it doesn’t focus on creating wealth. It focuses on redistribution of wealth,” he told the House.
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GUYANA – Latest News – 30 July 2015 – Demerara Waves – [8 articles]

    GUYANA – Latest News – 30 July 2015 – Demerara Waves  [8 articles]

Guyana Govt. retrieves almost $10B from disused bank accounts

Govt. retrieves almost $10B from disused bank accounts

June 11, 2015 | By | Filed Under News
Finance Minister, Winston Jordan Photo: Finance Minister, Winston Jordan

The new Government has managed to retrieve almost $10B lying in “old” bank accounts, a senior Government official confirmed yesterday.
In the past weeks, the Ministry of Finance and its departments have been conducting exercises to determine the state of the country’s finances.

It is unclear why the previous People’s Progressive Party/Civic (PPP/C) government kept that amount of money lying around in virtually unused accounts.  Continue reading

Guyana has been living beyond its means – Anand Goolsarran

Guyana has been living beyond its means – Anand Goolsarran

$86B accumulated in debts  – Consolidated Fund overdraft about $60B
Former Auditor General, Anand Goolsarran

Anand Goolsarran

June 3, 2015 | By | By Kiana Wilburg
With respect to Treasury Bills, Guyana has accumulated over $80B in debt. And the Consolidated Fund could be overdrawn by as much as $60B.

Former Auditor General (AG), Anand Goolsarran in pointing to these startling findings, said that it paints the clear picture that “Guyana has been living beyond its means.”
To cement his point, he examined the explanation given by Finance Minister, Winston Jordan for the Consolidated Fund being in heavy overdraft.  Continue reading

General election looms as APNU decides to support AFC’s no-confidence motion

General election looms as APNU decides to support AFC’s no-confidence motion

Tuesday, 05 August 2014 – by   – Demerara Waves

Parliament Building where the opposition's no-confidence motion will be debated and more than likely passed. Parliament Building where the opposition’s no-confidence motion will be debated and more than likely passed.

Guyanese could return to the polls later this year in an early general election after Tuesday’s decision by the opposition A Partnership for National Unity (APNU) to support the Alliance For Change’s (AFC) no-confidence motion against the Donald Ramotar administration.

The Constitution states that on the House’s approval of a no-confidence motion, the President and Cabinet have to resign and make way for general and regional elections within three months.   Continue reading

AFC tells Ramotar time-up, ready for no-confidence – Ramotar responds…..

AFC tells Ramotar time-up, ready for no-confidence

Friday, 18 July 2014 – By  Denis Scott Chabrol – Demerara Waves

President Donald Ramotar

President Donald Ramotar

The smaller opposition Alliance For Change (AFC) has told President Donald Ramotar that it is going ahead with its vote of no confidence in the government that will inevitably see Guyana going into early general elections before year end if approved by the combined opposition-controlled House.

AFC Leader Khemraj Ramjattan told the Guyanese leader that he was pushing ahead with the no confidence vote because government was spending millions of dollars from the Consolidated Fund without parliamentary approval. “Our Party sees no other alternative than to proceed with this constitutional mechanism for removal of an unpopular Government that has ceased to enjoy the confidence of the National Assembly and who by its actions has demonstrated an unlawful and contemptuous disregard for the Supreme Law of the Country,” he said in the July 17, 2014 letter.
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Opposition cannot cut budget; ERC to get back money- Chief Justice

Opposition cannot cut budget; ERC to get back money- Chief Justice

The High Court on Wednesday preliminarily ruled that the combined opposition’s budget cuts are illegal only that the Ethnic Relations Commission could have its GUY$$99.4 million restored because it is a constitutional body that draws directly on the Consolidated Fund.

“In order to enable that constitutional entity and its secretariat to perform its constitutional functions, the court orders the Ministry of Finance to allow all expenditures necessary from time to time for the maintenance of that entity and for the performance of its constitutional function to be charged directly from the Consolidated Fund (as mandated by the Constitution) until the National Assembly determines a lump sum by way of a subvention to meet such expenditure,” Chief Justice Ian Chang said in his 34-page judgment.            Continue reading

The politics of ‘no’ – commentary

The politics of ‘no’

Stabroek News – June 17, 2012 Editorial |

In an interview with the National Communications Network on Wednesday, President Ramotar let it be known that he would not give his assent to bills passed by the opposition unless the government had had some input into them. The GINA release which conveyed this information also said that the President’s warning had come in response to the prevailing notion of ‘rule-by-motion’ politics in the National Assembly where APNU and the AFC have used their slender majority to defeat the government. “That is not the function of the opposition,” President Ramotar was quoted as saying, “They must respect what is their role… I am making it very clear that I will not assent to any bill that they carry unless it is with the full agreement of the executive and the full involvement of the executive.”

No room for misinterpretation there. Given the government’s record so far during the Tenth Parliament, there is clearly little inclination to work with the opposition on legislation – or at least, to give any ground in that department. As it is, the opposition has been resorting to motions in the National Assembly, but this could hardly be described as “rule-by-motion,” since without it being translated into legislation, it has no statutory force whatsoever. The only thing it does is highlight issues in a parliamentary setting, and embarrass the government.  Continue reading

PPP Govt.’s illegality continues unabated – Ramjattan

PPP Govt.’s illegality continues unabated

May 13, 2012 | By  |  Letter to the Editor
 Dear Editor,
Notwithstanding all the mouthings of President Ramotar, and Finance Minister, Ashni Singh, and CEO Mr Brassington, such will never legalise the illegality about the activities of NICIL.
Quite frankly, the whole of Guyana is now aware of the scampishness and skullduggery being carried on when NICIL’s Directors and officers fail to deposit its Revenues into the Consolidated Fund.The starting point is Article 216 of the Constitution which states that all monies raised or received by Guyana are to be paid into the Consolidated Fund.  And this is how it should be in a normal, regular democracy.   Continue reading

NICIL monies belong to NICIL – Brassington

NICIL monies belong to NICIL

MAY 14, 2012 | BY  |

… transfer to treasury done at the discretion of the Directors – Brassington  

Executive Director of the National Industrial and Commercial Investments Limited (NICIL), Winston Brassington, appeared on the State-owned National Communications Network (NCN) last evening and declared that the monies in NICIL accounts belong to NICIL.

Brassington was at the time being interviewed by former beauty queen, Olive Gopaul, who was told that while there is no obligation placed on NICIL by the Constitution of Guyana to have its monies turned over to the Consolidated Fund; it is done at the discretion of NICIL’s directors.

The Directors at NICIL at present include Finance Minister Dr Ashni Singh, Dr Roger Luncheon and Marcia Nadir-Sharma.  Continue reading

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