2019 National Budget consultations
─ establishment of Sovereign Wealth Fund step in right direction – FITUG
DPI, Guyana, Thursday, September 6, 2018
The Federation of Independent Trade Unions of Guyana (FITUG) today lauded the government for its intention to establish a Sovereign Wealth Fund (SWF) with the objective of securing income from oil revenues for future generations.
Representatives of the Federation were speaking during a budget consultation with Minister within the Ministry of Finance, Jaipaul Sharma hosted in the boardroom of the Ministry of Finance.
Minister within the Ministry of Finance, Jaipaul Sharma and representatives of the Federation of Independent Trade Unions of Guyana (FITUG)
Additionally, the FITUG suggested a number of measures to further assist the sugar workers; an increase in Old Age Pension, electricity subsidy, income tax threshold and widening of the income tax base, among others.
Minister Sharma committed to examining all the proposals and noted that government will seek to address all the concerns and suggestions.
The minister reminded that not all proposals can be taken on board since government has to consider the feasibility given the available resources.
The consultations on the National 2019 Budget will continue over the next few weeks.