NATION

A-G: Future Of Our Children Secure

A secure future is ensured for our children under the parenthood assistance programme, which is part of the 2018-2019 National Budget. This was highlighted by the Attorney- General and Minister
10 Aug 2018 09:55
A-G: Future Of Our Children Secure
Luisa Vosailagi (left), and Alowesi Taleiqio at the Fiji National University Natabua Campus, Lautoka on August 9, 2018. Photo: Yogesh Chandra

A secure future is ensured for our children under the parenthood assistance programme, which is part of the 2018-2019 National Budget.

This was highlighted by the Attorney- General and Minister for Economy Aiyaz Sayed-Khaiyum during the 2018-2019 Budget Roadshow at the Fiji National University Natabua Campus yesterday.

Mr Sayed-Khaiyum told students, staff and parents that the rationale for this was an increased level of savings among children because they would have their own bank accounts at a very young age.

Under the $1000 parenthood assistance programme, the mother is provided with $500 for the opening of the account.

This would be used to accommodate for costs that may arise when rearing the child.

“The other $500 will be in the account till the child enters Year One of school,” Mr Sayed Khaiyum said.

“The mother is the only one who can op-erate the account.

“Banks will not charge any fees during this time and interest rates will be accu-mulated.”

Mr Sayed Khaiyum said that the account would be in the name of the baby therefore encouraging savings as the child is growing up.

He said that children would be able to deposit money received to them in gifts and by other means.

“If you open the account in the name of the baby, we are hoping that savings is done into the child’s account. If the child receives some money as a birthday gift, it can be deposited into his/her account,” he said.

This would indeed strengthen their future and encourage more savings within the economy.

Mr Sayed-Khaiyum emphasised that it was important for people to have their babies registered in order to qualify for this initiative.

The new initiative will also see the child’s  father entitled to five days paternity leaves.

“We also want the father’s to be a part of the child rearing process,” he said.

The parenthood assistance programme started on August 1st, 2018.

Edited by Percy Kean

Feedback:  yogesh.chandra@fijisun.com.fj




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