Minority’s position against E-levy scaring away investors – Ofori-Atta

Finance Minister Ken Ofori-Atta has said that the position taken by National Democratic Congress (NDC) Members of Parliament against the E-levy is scaring away investors from the country.

Mr Ofori-Atta said also that it is affecting the implementation of government programmed.

Announcing key economic measures to deal with the current challenges facing the economy on Thursday March 24, Mr Ofori-Atta said “Three (3) things that we did not (and could not) predict hit us that is the Parliament will approve the 2022 budget, appropriation and its expenditure plans and turn to vote against one of the key revenue measures that was being introduced, E-levy.

According to him, the stance of the Minority in Parliament against the E-levy would gravely affect investor confidence and the capacity to implement their programmes.

The Minority, in opposing the E-levy said the policy proposal in the 2022 budget statement is a disincentive to the growth of digital economy.

He again said, “The third hit was the launch of the attack on Ukraine by Russia on February 24, 2022. The war in Ukraine could not have come at a worse time for the global economy”.

….KEN ON MINORITY….

Ken Ofori Atta again said, so far, government has spent over GHS25 billion since 2018 to clean-up the financial sector and reducing inflation from 15.4 percent in December 2016 to 7.6 percent in 2019 and preserving the integrity of the local industry.

 

.…KEN ON SPENT….

 

Cedi under Akufo-Addo is doing better than it did under Mahama in 2014 – Ofori-Atta

Finance Minister Ken Ofori Atta has said that despite the challenges facing the country at the moment, the Cedi is doing better than it did in 2014 and 2015 when Mr John Dramani Mahama was the President of Ghana.

Announcing measures to deal with the economic challenges facing the country on Thursday March 24, he said, “The cedi has not been spared. Cumulatively, our local currency has depreciated by 15.6% against the US dollar, and 13.4% and 13.3% respectively against the Pound Sterling and Euro, in the year to 23rd March 2022. This, understandably, is causing a lot of anxiety among traders and consumers alike”.

He added that, however, in spite of it all, the cedi has held under these extreme challenges better than it did in 2014 and 2015. This is because the fundamentals are much stronger.

He noted that, the Bank of Ghana has announced measures to address the exchange rate depreciation and we believe in the propriety of the measures they outlined on Monday.

.…KEN ON CEDIS….

Ken Ofori Atta again said, government will partner the private sector to introduce digital systems to monitor quarrying, sand winning and salt winning to get more revenues from the natural resources and immediately enforce the “No Duty – No Exit” policy at the MPS Terminal at the Tema Port to improve revenue collection.

He added that, the Ministry of Finance (MoF) will work with the Central Bank to review the foreign exchange retention policy to ensure multinational companies in the extractive sectors retain foreign exchange earnings, from the sale of the resources, in the country.

….KEN ON PRIVATE…..

 

Government cut expenditures for Government appointees- Ofori Atta

Finance Minister, Ken Ofori Atta has stated that, government under President Akufo Addo in these hard times has called for very efficient use of energy resources.

Announcing measures to deal with the economic challenges facing the country on Thursday March 24, he said “In line with this, there will be a 50% cut in fuel coupon allocations for all political appointees and Heads of government institutions, including SOEs, effective 1st April 2022.

According to him, with immediate effect, Government has imposed a complete moratorium on the purchase of imported vehicles for the rest of the year and this will affect all new orders, especially 4-wheel drives and will ensure that the overall effect is to reduce total vehicle purchases by the public sector by at least 50 percent for the period.

He again said, with immediate effect Government has imposed a moratorium on all foreign travels, except pre-approved critical/statutory travels.

….KEN ON APPOINTEES….

He again said Cabinet has approved that Ministers and the Heads of SOEs to contribute 30 percent of their salaries from April to December 2022 to the Consolidated Fund and would like to thank the Council of State in their leadership in complimenting the Government on this policy.

 

….KEN ON DEDUCT…..

 

 

 

Akufo-Addo has no plan of stopping free SHS – Ofori-Atta

Finance Minister Ken Ofori Atta has announced that President Nana Addo Dankwa Akufo-Addo has no plan of cancelling or reviewing the free Senior High School programme.

Announcing measures to deal with the economic challenges facing the country on Thursday March 24, he said, “Let me say this, President Akufo-Addo has absolutely no intention to rollback on any of the major policies like the free SHS. We see education as the best enabler for sustainable growth to ensure transformation. We will do more to improve on it for it to serve better our children”.

His comments come at a time Information Minister Kojo Oppong Nkrumah announced that all the 16 flagship programmes of the government are up to be looked at.

….KEN ON AKUFO ADDO….

Ken Ofori again said, they are confident that these measures will address the immediate and short-term challenges confronting the nation.

He added that, “To this end, we are aggressively pursuing key interventions such as 1D1F, GhanaCARES and the YouStart programmes to improve our ability to locally produce more goods and optimise the opportunities AfCFTA offers us. It is important that, as a country, we reduce our dependence on imports and increase local production. Public institutions are reminded of Government’s policy to buy locally produced goods. It is critical that Ghanaians reconsider their preference and consume more locally produced goods to support the economy and guarantee decent jobs for our people”.

….KEN ON ECONOMY….

 

 

Fuel prices reduced by 15 pesewas per litre effective April 1 

Fuel prices in Ghana will go down by 15 pesewas per litre effective April 1, 2022. This reduction will be in place for three months.

This was disclosed by the Minister of Finance, Ken Ofori-Atta, on Thursday, March 24, 2022, while announcing measures put in place by the government to cushion Ghanaians against current economic shocks.

According to him, “To mitigate the rising price of petroleum products at the pumps for the next three months, government has decided to reduce margins in petroleum price build-up by a total of 15 pesewas per litre with effect from 1st of April”.

He added that, BOST margin will reduce by 2 pesewas per litre, unified petroleum pricing fund margin reduced by 9 pesewas per litre, fuel markin margin reduced by 1 pesewa per litre, primary distribution margin reduced by 3 pesewas per litre.

He added that, these are expected to reduce the price of petrol by 1.6 percent and diesel by 1.4 percent and will anticipate the measures taken to stabilize the currency will help further stabilize the prices at the pumps.

He said, in addition to the aforementioned measures, the National Petroleum Authority and the Ministry of Energy are in talks with the various Oil Marketing Companies (OMCS) “to reduce their margins in the spirit of burden-sharing”.

…..KEN ON FUEL….

Ken Ofori Atta again said, these are truly challenging times globally and no country has been spared, Government, therefore, calls on all Ghanaians to stand together and we shall surely overcome.

“Ladies and Gentlemen and people of Ghana, we can do it together. This is not the first time an NPP Government, working together with the people of Ghana has succeeded in overcoming an economic challenge of this nature. We have demonstrated time and time again our ability to overcome”, he said.

….KEN ON GHANAIANS….

Tarkwa: One dead, others injured after clash between two galamsey groups

One person has died after a free for all fight between two illegal mining (galamsey) groups at Bonsaso near Tarkwa in the Western Region.

Several others have also sustained deep machete wounds as a result of the clash.

Reports point to the fact that there is an existing tension between the two feuding parties that led them to take over the streets on Wednesday evening to engage in the fight at the abandoned Bonsaso Tollbooth.

Tarkwa Divisional Police Commander, Chief Superintendent, George Andrew Kuma confirming the incident to the media said, “Two gangs have been at loggerheads for years, with threats that there will be a fight if they meet. So yesterday [Wednesday] they met, and it was a free-for-all fight that involved machetes. One of the guys was shot. The others continued fighting with the machetes. The one who was shot was bleeding profusely and later, he died and was taken to the Tarkwa Municipal Hospital.”

According to him, the incident resulted in one fatality after one of them suffered a stab wound in the abdomen resulting in the exposure of his valve one other person was seriously injured after he had a very deep cut showing the skull bone and one of his hands is almost severed, and he has been referred to Komfo Anokye Teaching Hospital but they still have quite a number of them that are still at the hospital.

Chief SUPT. Andrew Kuma revealed that, so far four people suspected to be part of the gangs have been arrested while investigations is still ongoing.

He added that, the Police retrieved two foreign pistols and still searching for a pump action gun, they again retrieved about 10 sharp cutlasses and two kitchen knives.

….SUPT. KUMA…..

 

12-year-old boy allegedly commits suicide at Opeikuma

A 12-year-old boy has allegedly committed suicide at Opeikuma, near Kasoa in the Central Region.

The boy identified as Junior Setor, went missing after returning from school on Wednesday, March 23, 2022.

Mother of the deceased, Joyce Setor speaking to the media said, they and other family members mounted a search for him until he was found late in the night lifeless in an uncompleted building on their compound with a rope hanging around his neck.

According to her, her son never looked troubled, and he was reserved and a good child.

….JOYCE SETOR….