Gov’t exploring ways to disburse $10,000 cash grant

HEAD of the Presidential Secretariat Dr. Roger Luncheon said Cabinet is currently exploring ways through which the $10,000 per child cash grant can be disbursed.This provision is one of the many measures outlined in the recently passed 2014 national budget, and caters for each nursery, primary and secondary school student in Guyana.
“The main focus is access…whether the access would be unfettered, essentially open-ended and the parents have absolute discretion…,” the HPS explained.
Cabinet is also looking at ways through which this disbursement could contribute to a cashless transaction or at least promote the development of financial services in Guyana.
The Ministries of Finance and Education and entrepreneurs alike have all recognised that handling disbursements in a cashless transaction can enhance the improvement of the financial sector.
Dr. Luncheon said ‘cashless’ does not involve an actual cash transfer; instead, a voucher can be given to the parents as is done in the uniform assistance programme, whereby specific items of clothing and other school requirements can be purchased.
The other possibility is not exactly cashless, whereby public officers could receive this grant along with their salaries and other emoluments which are deposited in bank accounts.
This cash grant initiative by the Government will benefit approximately 188,406 families and will cost a total of $2B.

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