Govt. closely monitoring implementation of capital programme– Minister of State

DPI,  Guyana, Friday, August 04, 2017

Minister of State, Joseph Harmon, today, revealed that the government will  continue to closely monitor the implementation of the Public Sector Improvement Programme (PSIP).

The PSIP with an allocation of $56.75B for 2017, is the main mechanism for the government capital programme spending. It is the budgeting and strategic planning tool available to the government to translate its policies and plans into tangible projects and programmes.

During an extended Cabinet meeting with ministers within the ministries and permanent secretaries on Wednesday,  it was revealed that capital spending had been very slow in the initial months of 2017, but improved significantly towards the end of the first half of the year.

“Cabinet was informed about the issues that hindered the implementation of projects under the PSIP and discussed ways and means of assisting the budget agencies to improve their performance in relation to Capital spending . Cabinet also indicated its intention to continue to closely monitor the implementation of the PSIP,” Minister Harmon explained.

Minister Harmon said that the permanent secretaries  expressed appreciation for cabinet’s intervention and assured that the bulk of the PSIP spending and projects for the year 2017 will be implemented.

Projects and programmes under the PSIP represent investments in the country’seconomic and social infrastructure. It is also designed to improve the standard of living of the citizens and provide the foundation for economic growth and human development.

As the capital expenditure component of the National Budget, the PSIP is focused on projects and programmes that would achieve sustainable development.

 

By: Synieka Thorne