–says comprehensive five-year plan for expanded social support to be announced soon

–emphasises government’s continuous efforts to ‘shock proof’ economy from shortfalls

ENVISIONING a nation rising with purpose, clarity and unstoppable momentum, President, Dr Irfaan Ali has announced the government’s plans to unveil a comprehensive economic expansion, infrastructural integration and social development plan for the next five years.

 

Speaking at the Guyana Oil and Gas Energy Chamber’s Annual Awards Presentation Dinner at the Georgetown Marriott Hotel last Friday, the President said the plan will define the government’s vision for the next half-decade.

 

“In the coming days, I will open with great clarity, the economic expansion, infrastructure integration and development trajectory for our country over the next five years.”

 

He noted that while much of Guyana’s momentum is buzzing around its burgeoning oil and gas sector, the government remains disciplined in its efforts in ensuring that the country’s economy is one that will be built on pillars of diversification.

 

“This journey that we are on is now getting fired up, but we are not only injecting fuel on this leg of the transformation.”

 

Guyana, he noted, has built its energy ecosystems around understanding the global environment to ‘shock proof’ its economy from shortfalls.

 

“We are living in what is described as Guyana’s Golden Era, a time where our nation will be the envy to many, a time when the world is looking to us, not out of curiosity, but out of admiration and critically it means that the opportunities for Guyanese firms will multiply.”

 

He noted too that Guyana is building out an infrastructure, allowing the country to enhance its capacity to take care of consumption. This is an energy mix and integration which he believes is critical for resilience and sustainability.

 

“Companies supplying goods and services to the oil and gas sector, logistics, fabrication, construction, technology, catering, training are already experiencing demand surge. And that demand will only intensify as each new development comes to production,” he added.

 

He stressed that the country’s long-term strength will not be on how much oil it produces, but how wisely it converts that wealth into infrastructure, human capital, energy security and a diversified economy.

 

President Ali reiterated that the government is building new streams of revenue, positioning itself to become more than just an energy powerhouse, but a stewardship for a sustainable future enhancing the lives of its people.

“This is a future that your children and their children will inherit, a future we are building at breakneck speed, not because we are in a hurry, but because history will not wait for us,” the President said.

 

Since returning to office following the September 1 polls, President Ali has touted the government’s plans to unveil a suite of comprehensive measures to support households and cushion the global trend of increased  cost of living.

 

MORE THAN CASH GRANT AND BONUSES

 

Building on the People’s Progressive Party/ Civic (PPP/C) track record of fulfilling its commitments, President Ali had only last week stated that the government’s support will go beyond cash bonuses and transfers.

 

“This government has a very elaborate agenda for the upliftment of your life, for the improvement of your life, for building prosperity for you, for building prosperity for your community, for empowering you, for giving you the opportunity to live a life in which you have access to the best health care, best education, home ownership, reduced interest rates, access to low-interest business development loans and grants with no collateral, access to textbooks, expanded school-feeding programmes, expanded infrastructure, community infrastructure, building out facilities to support women’s health,” he told reporters last week.

 

The President has already announced that the government will be giving $150,000 to each fisherfolk as part of an effort to better support these workers.

 

This was a commitment made during the campaign trail. President Ali had disclosed that Guyanese fisherfolk can expect more direct support, training, co-investment opportunities and a climate fund to enhance their lives and the local industry.

 

President Ali then outlined plans to adopt newer technologies, training and equipping fisherfolk with the tools needed to ply their trade with greater precision.

 

He recently announced too that rice farmers across the country will benefit from a $2.7 billion support, with the government providing an incentive of $300 per bag of paddy.

 

Earlier this year the International Monetary Fund (IMF) had praised the PPP/C ‘s administration social-transfer policies that have resulted in increased disposable income and a reduction in Guyana’s poverty rate.

 

The government has invested heavily in the social welfare of Guyanese, while also building out the country’s infrastructural landscape to enable long-term growth and sustained development.

 

Among the plethora of measures are the re-introduction and increase of the education grant to $55,000 per child; the increase in old-age pension to $41,000; increase in public assistance; targeted cash transfers, including the ongoing $100,000 cash-grant initiative and the grant for persons living with disabilities; health vouchers and programmes; and the removal and reduction of taxes, along with other targeted tax-deduction measures.

 

In addition to this, the government has abolished tuition fees at the University of Guyana and several technical vocational institutions, making tertiary education free of cost.

 

Meanwhile, several nursery, primary and secondary schools were rehabilitated and newly commissioned in an effort to promote equitable access to education levels.

The government also moved to open several new regional hospitals, thereby enhancing the delivery of healthcare across the country.

 

“Whether it’s cash grants, incentives, [or] subsidies, you don’t need to remind us. We know what our commitments are and we are going to deliver on every one of them faster, better, greater. So find your place,” the President said recently, stressing the government’s focus on broader programmes designed to strengthen social and economic empowerment across the country.