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House committee, technocrats to examine estimates
2012-02-23 08:22:40 | (0 Comments)
A sub-committee of Parliament’s Public Administration and Appropriations Committee (PAAC) is to meet with technocrats of the Finance Ministry today, to examine the Second Supplementary Estimates.
PAAC chairman, Edmund Bartlett and members met on Tuesday for the first time since the December 2011 general elections.
Members were told that the selection of a sub-committee became necessary as there were no funds to pay for technical support which was previously available.
The supplementary estimates of expenditure which were tabled on Tuesday indicate a $21.6 billion cut in expenditure.
If the changes are approved, the national expenditure for the current fiscal year will be $525.24 billion.
The recurrent expenditure which includes things like salaries for public sector workers, light bills, water bills and stationery has been cut by $9.83 billion moving to $349 billion.
However, it is the capital side from which the deepest cuts will be made.
The capital budget makes provision for new projects like the construction of roads, bridges, schools, clinics and hospitals.
It has been cut by $12.56 billion moving to $176.3 billion.
This is the second time the budget has been revised.
In August, there was a $2 billion addition pushing the Budget to $546.8 billion.
Source: The Gleaner/Power 106 News
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