-Dr Jagdeo announces, says that together with reintroduction of electricity, water subsidies are part of comprehensive financial aid package

THE People’s Progressive Party (PPP) government has increased old-age pension by 75 per cent since assuming office in 2020, Vice-President Dr Bharrat Jagdeo has said.

His comments came in response to criticism from the People’s National Congress Reform-led A partnership for National Unity (APNU).

To clear the air, Dr Jagdeo last week pointed that it was the PPP government that has significantly increased the pension for senior citizens as opposed to the APNU when it was in government.

“So, the pensioners who were earning $20,500 per month under APNU are at $36,000 now, a 75 per cent increase since we got into office. And we promised to double it. So next year it will go to $41,000 for a pensioner,” Dr. Jagdeo said.

He further pointed out that the government has established a comprehensive package to ensure that senior citizens in Guyana receive the best financial aid.

“They are getting more now per month than that. They are getting $36,000. So, it will go to $41,000. We have about 74,000 pensioners who are getting,” he added.

Aside from this increase, the government has reintroduced an annual electricity and water subsidy, alleviating the financial burden on senior citizens.

This initiative, part of the 2024 Budget of the Ministry of Human Services and Social Security, underscores the government’s commitment to enhancing the disposable income of its elderly population.

Starting this month, the subsidy will be applicable to electricity accounts registered in the pensioner’s name. The process differs slightly for postpaid and prepaid account holders.

For postpaid customers, the subsidy of $30,000 will be directly credited to the pensioner’s electricity account. In relation to prepaid customers, the subsidy will be placed in the pensioner’s account electronic wallet feature within the Guyana Power and Light (GPL) prepaid system.

Pensioners can then convert this amount into an electricity token by visiting any of GPL’s Commercial Offices and Customer Service Centres. To ensure a seamless transition, the government urges all eligible pensioners to verify their accounts.

“We returned the water subsidy. We returned the electricity subsidy. We increased the pension by 75 per cent. And we’re spending another $66 to $70 million to subsidise GPL.”

Pensioners are also receiving a yearly grant for eye examinations and the purchase of spectacles if that is required.

“They don’t look at the total package …but they’re getting back an electricity subsidy. They got back their water subsidy. They’re getting help now to do the, you know, to take care of their eyes and stuff like that,” he added.