- EC$5 more for some recipients of Public Assistance in SVG
Cabinet has approved an increase of EC$5.00 for Public Assistance Programme users who are currently getting EC$275 in order to ensure that they are not penalised when using the newly adopted reloadable Automated Teller Machines (ATM) cards.
Acting Prime Minister, Hon. Montgomery Daniel, told a media briefing earlier today to announce the ministry of National Mobilisation’s switch from cash payments to reloadable ATM cards payments, that the move will allow recipients to withdraw all of their money if they so desire when using the card. This is due to the fact that ATMs only accept 20-, 50-, and 100-dollar bills.
Daniel revealed that the cash form of payment cost the state EC$22,290 per month or EC$267,480 per year. He stated that the Cabinet approval wants to preserve the new payment system, which will cost the state a reduced sum of EC$833.00 monthly, or an average of EC$10,000 yearly. “It is critical to note that this is a savings to the government.” As a result, the Ministry of Social Development will consider a quicker transition to reloadable card payments for public assistance clients in order to reduce operating expenses and hazards associated with the cash system,” the minister added.
According to the Acting Prime Minister, this strategy would not only be cost effective, but it will also empower beneficiaries with financial emancipation chances. He stated that the government is providing a safer method for assistance recipients to get their funds on a monthly basis.
Daniel also commended Hon. Dr. Orando Brewster, Minister of Social Development, and his ministry personnel for their work in satisfying the social needs of the disadvantaged, as well as the Bank of St. Vincent and the Grenadines for its participation in the new service delivery.
