Government to spend over GH¢12b in 2011
Parliament on Wednesday passed the Appropriation Bill authorising government to withdraw money from the consolidated fund and other funds to run government business for 2011.
Government is to appropriate an amount of GH¢12,670,764,085.00 during the financial year commencing January 1, ending December 31, 2011.
A report issued by the Select Committee on Finance and Economic Planning presented by its chairman, Mr James Klutse Avedzi, said the bill was in accordance with constitutional requirement under Article 179 (2) of the 1992 Constitution.
He said the article demanded that estimates of expenditure of all public offices and public corporations other than those set up as commercial venture shall be classified under programmes or activities, which shall be included in an Appropriation Bill to be introduced to Parliament for the issue of fund from the Consolidated Fund to meet government expenditure.
The Committee, he said, noted that Ministries Departments and Agencies, shall be permitted to retain and use an amount of GH¢818,117,820.00 of internally generated fund.
He said the bill included an amount of GH¢354,206,000 for the District Assembly Common Fund, the Ghana Education Trust Fund and the National Health Insurance Fund to implement social intervention programmes.
The House, which had about four days extended sitting, also endorsed a tax waver of an amount of US$22,119,864.00 on materials equipment to be imported for the implementation of the Anglogold Ashanti (Ghana) Malaria Control Project in the three Northern regions.
The House adopted the request for a tax waiver of Stamp Duty of US$15,000,000.00 in respect of receivables–backed Offshore Syndicated Trade Facility for the 2010/2011 Cocoa Purchase by the Ghana Cocoa Board.
Parliament also granted a loan agreement between the government of Ghana and Commerzbank AG of Belgium for an amount of Euros 8,071,916.00 for the supply of 50 VDL Jonckheere busses and spare parts under Belgium Government Concessionary Finance for the Metro Mass Transit Limited.
The house rose until January 25, 2011.
Please watch your spending habit and debts being created for future generations just because we see little oil flowing. Spend spend WISELY because it will keep adding up just as we see in IRELAND, GREECE, SPAIN, PORTUGAL by time the country realised the whole country is in debts for over thousands of generations.
THERE SHOULD BE AUDITORS REPORTS JUST AS IN CANADA AND OTHER PRUDENT NATIONS TO CURB WASTE, OVER SPENDING, CORRUPTION, MIDDLEMEN AND BRING IN ACCOUNTABILITY, RESPONSIBILTY, CLARITY, BETTER QUALITY WORK, PROPER ONTIME DELIVERY OF EACH PROJECT.