…opposition express reservation about qualifying criteriaWhile all and sundry were in support of the tax waiver of income earned by designated micro credit money lenders, opposition leaders have voiced their reservation about the qualifying criteria by which the Finance Minister may approve an agency.This was revealed during the debate in the National Assembly on Thursday last, when the House met to decide the fate of the Fiscal Enactments (Amendment) Bill.The Bill was successfully tabled by Finance Minister, Dr Ashni Singh, who informed the House that the merits of such a waiver for small loans have been proven throughout the world.Dr Singh explained that with such a waiver it would lower the cost of lending, thus allowing vulnerable people who would previously have been unable to access loans to do so.He explained that impediments such as collateral would, with the enactment of the legislation, allow persons with the entrepreneurial resourcefulness to create wealth for themselves which would in turn benefit the economy.Dr Singh told the House that there are many bankable opportunities that exist but because of the impediments they are restricted.The Bill, he said, can be seen as promoting the creation of small business and,Adam Clendening Jersey, “small businesses reduce poverty.”Dr Singh explained that Guyana has a financial sector with liquidity available and is seeking lending opportunities, coupled with the fact that there is a climate where there is the increased need to access finance.With the Bill in force, Dr Singh explained that there will be fewer impediments to access finance.He pointed out that there has been a significant growth in lending by Commercial Banks and this is expected to be replicated under the micro loans.Leader of the Parliamentary Opposition and People’s National Congress Reform, Robert Corbin, told the House that in principle, his party supports any such initiative that would assist poor and vulnerable people.He said that what his party would have preferred to have seen is a comprehensive tax reform, but nonetheless, his party would support the Bill.Corbin said that in light of the initiative,Authentic Soccer Jerseys Free Shipping, it would be good to commend people like Dr. Yesu Persaud who managed to establish such a programme,Andre Branch Dolphins Jersey, even without the tax waivers.Human Services Minister,Cheap NHL Jerseys, Priya Manickchand, in her presentation to the House,Cheap Senators Jerseys, joined in commending the initiative, pointing out what were some of the other programmes that the ruling administration has been doing to alleviate the plight of the poor and vulnerable, especially women and children.She told the House that the administration has in place scores of policies aimed at alleviating social ills.Alliance For Change Chairman, Khemraj Ramjattan,Discount Nike Air Force One Shoes, told the House that his party too supported the initiative by the Government.He also expressed his reservation about the fact that the criteria for becoming an agency that would be designated was not clear, as well as the fact that the supervisory body was not outlined.The AFC Chairman said his comments came in light of past experiences with the government.He questioned the non-identification of a supervisory/monitoring body, given the fact that such schemes in some parts of the world have been used to launder money.