Latest update April 19th, 2024 12:59 AM
Nov 17, 2019 Letters
Dear Editor,
In my letter captioned, “Why is it that this Government can only ‘dig holes’ without filling any?”, I brought to fore the fact that this Government over a four year period has mostly taxed the Guyanese public to the tune of $1,047 trillion dollars in order to satiate its hunger for wasteful spending and its huge appetite for corruption.
However, I must now add that this Granger led Government was not happy with that humongous amount of money at their disposal, they had to rape the various reserves and plunged its account at the Bank of Guyana to an all-time high overdraft of more than $69 billion at the end of October! And from all appearances this is climbing! In one month the Government had drawn down over $3.5 billion. It is illuminating to note that when this Government assumed Office the Public deposits at the Bank of Guyana was $10.4 billion, a positive balance. It was not in the red! This overdraft abuse started in 2015 and by the end of that year it was $2.3 billion; at the end of 2016 it was $21.3 billion; at the end of 2017 it was $25.7 billion and at the end of 2018 it had dramatically jumped to $57.2 billion! It must be noted that the Bank of Guyana is the Government’s Bank and it holds monies for Central Government and state-owned enterprises so this account is at the mercy of this greedy Government. At this rate of rapacious devouring of money we can expect this to meet $100 billion by Christmas since the Government is bent on giving ‘baksheesh’ to gain votes. Billions are also spent on electioneering ‘outreaches’ and monies are now being flung in all direction to beg supporters who became disgruntled and impoverished after 4 years of steeply rising costs of living!
This Coalition was not contented with the misuse and abuse of the Bank of Guyana Overdraft, they descended on the International Reserve which quickly dwindled from US$652 million to US$ 528 million; the Gold Reserve from $25,012 billion to $620 million; the Contingency Reserves from $4.332 billion to $2.356 billion. It is observed that the depletion of these reserves accelerated rapidly after the successful no confidence motion on December 21st, 2019.
It is shocking to note that the total depletion of these reserves amounts to approximately $133 billion! If this is added to the four year budgetary allocations of $1,047 trillion then it will amount $1,180 trillion dollars. In this year alone the depletion of the reserves would have amounted to more than $14 billion.
Can you imagine that having squandered nearly 1.2 trillion dollars this Government is now talking about ‘downsizing’ the public service? Just a few days ago the Finance Minister spoke about how 15,000 to 20,000 workers in the public service are placing a heavy burden on the Treasury and that was the reason they cannot receive better wages and salaries. He said all of this being cognizant that the wages and salaries increases were catered for in the 2019 Budget which was supported by the Opposition. Then, having set the stage to display a dismal outlook, in came the President in his role of the ‘saviour’ announcing to the Nation, wages and salaries increase for public servants retroactive from January 1st and tax free.The timing was perfect for electioneering purposes.
So much money was squandered yet the sugar workers receive nothing! I have no problem with an increase of wages and salaries to public servants but why is it that the sugar workers have not been the recipients of such benevolent propitiation? Is it because they are perceived to be supporters of the PPP and public servants are perceived to be supporters of this Government? The entire GUYSUCO had employed around 16,000 persons and 7,000 were sent packing, if the public service is bloated by more than 15,000 workers then why are these being treated differently? Ramjattan was quick to point out that it was because of the subsidies to Guysuco that his Government cannot afford to pay public servants any increase in wages and salaries and embark on infrastructural works. Whilst his erstwhile ‘buddy’ Nagamootoo had said that the sugar workers were ‘raping’ the treasury and the monies were going down a ‘dark hole’. Now a whole new economic strategy is unfolding! Can these guys account for the humongous amount of monies wasted?
In conclusion, I want to warn the public servants whom Jordan spoke about, that it is Christmas time and 20,000 geese are being fattened for the slaughter.
Yours sincerely,
Haseef Yusuf
Please share this to every Guyanese including your house cats.
Apr 19, 2024
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