Former Minister of Trade and Industry, Ekow Spio-Garbrah, has questioned the capabilities of the current government’s appointees to run their various offices.
Commenting on the 2018 budget presented to Parliament on Wednesday, the National Democratic Congress (NDC) flagbearer hopeful said although the Finance Minister, Ken Ofori-Atta, has access to more public funds than all his predecessors, he struggles to balance his books.
Ekwow Spio-Garbrah said on his Facebook page that, “Since the GETFund law was put in place in Year 2000 based on my initiatives and with the help of others, especially Dr Ibn Chambas, all governments have been very happy simply to receive the automatic 2 and a 1/2 % of VAT receipts which finances the GETFund. Governments have been blithely oblivious of hundreds of other sources of funding— of which individual contributions are only one source— which could have grown the GETFund to more than USD 1 billion per year, instead of something below USD 250 million a year. In any case, one of the earliest acts of NPP in 2017, was to pass a law this year, capping the receipts that all statutory funds should receive—Road Fund, Tourism Fund, GETFund, DACF, etc—to only 25% of Their lawful 100% entitlement.
“So this Finance Minister, for the first time in more than Three decades, has far more access to and control of liquid public funds than any previous Minister, in addition to the largest single bond borrowing in Africa’s history, yet he is struggling to balance his books and has GHC 3 billion revenue short fall. NPP truly has boys and girls and not Men and women!”
Mr Ofori-Atta on Wednesday announced a voluntary fund to gather individual contributions to support initiatives in the education sector, particularly the free Senior High School (SHS) programme.
However, critics, mainly from the opposition NDC, see the establishment of the fund as an indication of government’s failure to think through its policies thoroughly.
The budget for the free SHS was increased from GHS400 million in 2017 to GHS 1.2 billion in the 2018 budget.
A former Deputy Education Minister under the NDC administration, Samuel Okudzeto Ablakwa, believes the establishment of the Voluntary Education Fund is a clear indication that the government was struggling to finance the policy.
Source: Myjoyonline
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BOYS AND GIRLS WITH BRAINS AND NOT ***barred word*** TOO. HUH ?
Wonderful piece Dr pls I want to see more of your brilliant submissions all de time keep educating dem for they know nothing except cheap propaganda with their radio allies,thnx sir
Am surprised Ekow Spio Gabrah didn’t know that the bond was refinancing. This means that the Finance Minister only helped in extending the term and renegotiated the interest rate of an existing loan. The minister did this brilliantly by negotiating for a lower interest rate which saved the country millions in interest payment. The loan, however, was used to repay the existing loan which was maturing. This simple thing too Ekow Spio Garbrah is struggling with it and disgracing himself. HE Bawumia was right...these NDC guys will never read to understand issues. They just talk
Eii Spio kasa, small presidential candidate you want to be see how you are talying loosely all the time, you with your men.and women what happened to the economy? Ndc and loose talk.