Gov’t studying rising cost of living - Jagdeo
As Guyanese continue to battle the rising cost of living, Vice President Bharrat Jagdeo on Friday said government has been continuously analysing the situation to implement appropriate measures.
Though he didn’t say if working class Guyanese can expect any new announcement soon, Jagdeo hinted that plans are in place for a special package being crafted for pensioners.
He stated that through various relief packages already distributed, the government has given up some $40 billion annually of income.
“We still have to do much, much more… we have to try and be supportive of vulnerable people,” he said at a press conference at the Arthur Chung Conference Centre.
Earlier, he had acknowledged that cost of living is a real issue which has been affecting families everywhere and one of the reasons why government has been implementing measures.
During the presentation of this year’s budget, Minister of Finance Dr Ashni Singh announced government had set aside some $5 billion to be used in the implementation of measures to cushion cost of living.
Aubrey Norton, Leader of the main opposition party People’s National Congress Reform (PNCR), has called on government to use the sum to immediately implement measures to cushion the skyrocketing cost of living.
Across the globe, there has been steep increases for commodities as a result of the COVID-19 pandemic, associated global supply chain bottlenecks and more recently the war between Russia and Ukraine.
Since taking the helm of government 24 months ago, the Irfaan Ali-led administration has implemented a slate of measures to cushion COVID-19 impacts and later cost of living.
In keeping with a manifesto promise, VAT was removed from water, electricity and data services along with some everyday commodities, fuel lubricants and construction materials.
Recently government also announced that it will be supporting construction of homes through the handout of steel and cement.
Government has also granted one-off cash grants to sections of society, such as farmers, fishermen, persons with disabilities, and hinterland and riverine households, among others.
Farmers also benefitted from free fertilizer from government, a move government said that was necessary to keep food production low.
Additionally there has been the creation of some 11,000 part-time jobs across the coast and Jagdeo said an additional 3,000 will be added shortly.
These measures while not directly going to some individuals still results in benefits to all, he stated. He noted that if the government had not stepped in to offer assistance to these groups, prices for everyday items would have been higher.
The measures, he stated, have had ripple effects.