PP dealing with $21B debt inherited from the PNM
The People’s Partnership Government inherited $21 billion in debt from the former PNM regime.
This from the Minister of Works and Infrastructure, Dr. Surujrattan Rambachan.
During debate on the Finance Bill 2014, Dr. Rambachan lashed out at the Opposition benches for implying there is rampant corruption in the Government.
“How can we forget the $7 billion budget deficit, the $4 billion WASA debt, the $1 billion incomplete Tarouba tsunami shelter, the $650 million incomplete Legal Affairs Tower, the $700 million incomplete Chancery Lane Complex, the $500 million incomplete South Academy for the Performing Arts, all of which we have been able to deal with while we continue to transform this economy into a growth economy.”
The Tabaquite Member of Parliament also used the opportunity to remind the national community of the $500 million spent on a feasibility study for a Rapid Rail that never materialised.
He argued that money wasted on the Rapid Rail Study could have provided homes for the less fortunate.
“A two-bedroom house in this country with one toilet and bath, electrical and plumbing, under the URP Programme, cost $125,000, $1 million you build eight. $576 million will give you 4,800 of those houses. That is what we lost in this country, 4,800 poor people in this country could have had two-bedroom houses as part of that starter house programme.”