The government sought parliamentary approval for another $1.7 billion in supplementary funding to help offset costs incurred by the Linden Electricity Company Inc. this year and this sum was approved by the Committee of Supply on Monday.
Prime Minister Brigadier (Ret’d) Mark Phillips explained to the National Assembly that this sum is needed because the government committed to absorbing increased electricity costs this year.
“We have experienced a tremendous increase in the cost of fuel during the year 2022… we have decided that government will withstand that cost and not pass it onto the people of Guyana
“That is the only reason we requested this money to keep the lights on in Linden, Region 10,” the Prime Minister said.
Opposition Leader Aubrey Norton asked the government for further details on this sum, including by how much fuel prices increased triggering the need for this supplementary funding.
“I want to be very clear that we support it given to Linden but we want to know the costs,” Norton said.
In response, the Prime Minister explained that the government has a contract with the Bosai Minerals Group Guyana to supply power to the Linden Electricity Company and the $1.7 billion sum reflects the additional money requested by the company.
Bosai, the PM Phillips said, submitted an invoice for this amount.
Overall, the government is seeking parliamentary approval for another $47 billion in supplementary funding to offset the costs it incurred by agreeing to absorb the increase in electricity rates and other much-needed works such as the completion of roads and bridges.
Members of the National Assembly are considering this request on Monday.