-having photograph taken is integral to registration, Minister Singh says

GUYANESE everywhere are aware that Guyana is the world’s fastest-growing economy, and while this fact is evident on an international scale, Minister of Finance, Dr. Ashni Singh, states that the government is focused on ensuring that this economic prosperity reaches all Guyanese citizens.

The rollout of the cash grant distribution will follow a two-step process, with the taking of photographs required for registration.

Minister Singh stated that although people will not be forced to have their picture taken, it is necessary for the process. “We are not compelling anybody to have their picture taken. You do have the option to not have you picture taken. But if you exercise that option, you will not be registered,” he said.

Dr. Singh made these statements during his address at the World Trade Centre Conference on ‘Banking Made Easier,’ an event designed to address key domestic and international banking issues. It was held at the Pegasus Suites on Tuesday and was graced by a number of speakers from both public and private sectors.

Speaking with members of the media, Dr. Singh provided an update on the progress of the highly anticipated cash grant distribution.

He assured that the registration process, already underway in Region Nine, is designed to be simple and accessible. The process is said to cost an estimated $30 billion, a sum, Minister Singh has asked the National Assembly to approve.

The Ministry of Finance is adopting a regional approach, first registering all eligible citizens and then distributing the funds in the form of cheques.

Dr. Singh explained that Guyanese will be informed about registration locations in their regions through a published schedule.

“Step 1 is registration. Step 2 is the verification of the registration,” he said emphasising that “there is no duplication.”

He further added, “In every community, we will publish a registration sheet, which will include a list of dates, times, and locations. Our technical team, equipped with devices, will capture this data.”

Additionally, communities across Guyana will receive a distribution schedule as the next phase of the process. Minister Singh emphasised that the government is working tirelessly to complete this phase as soon as possible. “Step 2 will involve retargeting. We will publish a second schedule—the distribution schedule—and we will revisit those same approved registrations sites to distribute the cheques accordingly.” he explained.

In his address at the event, Dr. Singh also briefly discussed the impressive growth in the country’s private sector banking industry. From 2021 to mid-2024, private sector credit in Guyana surged by 58 per cent, rising from $260 billion to $410 billion.

As Guyana looks forward to the completion of the World Trade Centre building by mid-2025, Dr. Singh noted that the development will be a significant addition to the country’s banking and financial landscape. “The establishment of the World Trade Centre in Georgetown is another important indicator of the transformation and modernization happening in our country at meteoric speed,” he stated.

Moving forward, Minister Singh says that the government will continue to pioneer projects geared towards enhancing and developing the economy of Guyana for all Guyanese.