The Cabinet has approved the first redeployment of funds from the 2024-2025 Budget to address supplementary expenditure needs amounting to $28,087,026 (VIP) for the Ministry of Education and the Ministry of Local Government. This decision includes the allocation of $23 million to enhance the existing $37 million budget designated for transport assistance under the Ministry of Education. The additional funding aims to ensure that the government fully subsidizes the expected rise in bus fares for blue and yellow card holders, effective from September 1, 2024.
Furthermore, the Ministry of Local Government will benefit from an additional $4,087,026 to finalize works at Govind Park. Additionally, $1 million will be allocated as a supplement to the previous $500,000 assigned for the preparatory work needed for the upcoming Local Government elections.
These reallocations are made possible due to savings identified from budget allocations that experienced delays in project implementation, leading to underutilization of funds by the concerned agencies. This strategic redeployment demonstrates the government’s commitment to adapt its financial resources in response to evolving needs while emphasizing effective fiscal management.
In the context of ongoing funding adjustments, this move reflects the government’s proactive approach to ensuring vital services are maintained, especially in education and local governance. This careful management of budgetary resources offers a foundation for ongoing support and development in these sectors, fostering a hopeful outlook for the communities they serve.
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