Finance Minister Says Government Will Continue to Protect the Poor

first_img Opening the 2018/19 Budget Debate in the House of Representatives on March 8, the Minister said social programmes for protected groups will continue to receive priority with respect to the allocation of resources, to ensure that overall spending in these areas is not eroded by inflation. Minister of Finance and the Public Service, Hon. Audley Shaw, says the Government remains committed to protecting the poor and vulnerable in the society. “We will continue, in fiscal year 2018/19, to strengthen the social safety net to ensure that these vulnerable persons are not left behind,” Mr. Shaw said. Story Highlights Minister of Finance and the Public Service, Hon. Audley Shaw, says the Government remains committed to protecting the poor and vulnerable in the society.Opening the 2018/19 Budget Debate in the House of Representatives on March 8, the Minister said social programmes for protected groups will continue to receive priority with respect to the allocation of resources, to ensure that overall spending in these areas is not eroded by inflation.Included are programmes for youth employment, poor relief, children’s homes and places of safety, school feeding, the elderly, and pregnant and lactating women.“We will continue, in fiscal year 2018/19, to strengthen the social safety net to ensure that these vulnerable persons are not left behind,” Mr. Shaw said.He noted that special attention is being placed on the Programme of Advancment Through Health and Education (PATH), which targets some of the most vulnerable segments of the population – children and students aged zero to 19 years; the adult poor, including the disabled, elderly, pregnant and lactating mothers and the destitute – and the Steps-to-Work Initiative, which targets working-age members of PATH for referral to relevant support services to enable them to seek and retain employment.Mr. Shaw said the programmes have the goal of breaking the chain of inter-generational poverty, adding that this is being achieved by ensuring that the next generation has better tools and better health prospects than their parents.“It also provides for support for those parents who need targeted social interventions to improve their living standards,” the Minister said.Mr. Shaw’s presentation was made under the theme ‘Stability, Growth and Prosperity – Our Goal, Our Responsibility’.last_img read more

Wind Power Ready to Support Decarbonisation in Shipping

first_imgzoomImage Courtesy: Norsepower Wind power is ready to be a part of meeting Paris-aligned greenhouse gas (GHG) reduction targets set by the International Maritime Organization (IMO) in April this year, auxiliary wind propulsion systems’ provider Norsepower Oy said.When the issue of decarbonising shipping is raised at the IMO, it seems that all too often it is dismissed because the technology to reduce emissions is not ready, Tuomas Riski, Norsepower Oy CEO, explained.However, a report by the International Transport Forum and the OECD, released last week, noted that almost complete decarbonisation is possible by 2035 with currently known technologies.“Innovative efficiency solutions rolled out with innovative finance means 70% decarbonisation is possible by 2050 or sooner,” Riski said.Norsepower Oy’s Rotor Sail Solution alone could drive a circa 5% reduction in total industry emissions and is complementary to other efficiency technologies vital to decarbonisation.Rotor Sails may not already be installed on the 20,000 applicable vessels in the global fleet, but the company has a proven commercial product that could reduce emissions by 10-15% per ship. This does not limit the reductions that could be made by those ships, as multiple technologies sit happily alongside Rotor Sails, like hydrodynamic hull optimisation, heat recovery, and alternative fuels, Norsepower Oy informed.“We hope that the IMO will recognise the potential savings offered by the clean technology community and set Paris Agreement-aligned GHG reduction targets at the upcoming MEPC 72 meeting.”“As a clean technology provider, Norsepower is ready to support that future. The challenge for the industry is not the technology but the will to implement it,” Riski concluded.Norsepower offers Rotor Sails under a ‘Technology as a Service’ model; rather than pay for a technology up front and install it on a vessel, costs are billed monthly at an amortised fee based on the achieved fuel savings.This reduces the barrier to entry and provides the added benefits of a service agreement rather than a one-off purchase of a product.last_img read more