Govt gives GPL $4B to help with cash flow

The content originally appeared on: INews Guyana

The Public Works Ministry has secured over $4 billion in additional funding for the remainder of 2022, after its supplementary budget was approved on Monday.

Govt sought a total of $44.7 billion in supplementary funding from National Assembly for the period ending December 31, 2022.

The Guyana Power and Light received an additional $4 billion. According to Senior Minister with Responsibility for Finance, Dr Ashni Singh, it is to enable cash flow at the entity.

Of this amount, $4.439 billion was earmarked for rehabilitative works on 28 pontoons of the Demerara Harbour Bridge (DHB) and for the acquisition of spares and the completion of rehabilitation of its vessels.

For upgrading roads and drains in several communities, some $3 billion was awarded.

Apart from debts owed by public entities, there is also the challenge of fuel costs. Meanwhile, with some $3.5 billion more pumped into GuySuCo, Agriculture Minister Zulfikar Mustapha said the Rose Hall estate will soon be reopened, having reemployed close to 700 persons.