GETFund receives over GH¢1.3b from VAT

The Ghana Education Trust Fund (GETFund), received a total amount of GH¢1,369,937,860.12, from 2001 to 2010, as its two-and-a-half percent share of the Value Added Tax (VAT), for the provision of educational infrastructure and other facilities.

Mr Sam Garba, the Administrator, said more than 45 percent of the money was invested in the tertiary education sub-sector.

He was addressing the Golden Jubilee Celebration and third speech and prize-giving day of the KNUST Senior High School (SHS) in Kumasi.

The event was held under the theme, “50 years of discipline and steady academic progression.”

Mr Garba said the Fund was now focusing on addressing pressing needs at the pre-tertiary level.

It was on account of this that 35.6 per cent of its total inflow of GH¢326.69 million in year 2010 was allocated to second cycle institutions and for this year, 31.64 percent of the expected receipts of GH¢376.88 million, would go into that area.

The Ashanti Regional Manager of the Ghana Tourist Board (GTB), Mr Ekow Sampson, who was the Guest Speaker, reminded the students about the need to uphold the values of hard work, perseverance and integrity.

He advised them against “cutting corners”, pointing out that, there were no shortcuts to success – they must work for it.

They should distance themselves from negative practices like laziness, truancy, illicit drugs and get-rich-quick mentality.

Mrs Joyce Owusu-Ansah, the Headmistress, noted with satisfaction, the high level of discipline in the school, which had led to improved academic performance.

In the 2008 West African Senior Secondary Certificate Examination (WASSCE), 41.6 percent of the candidates qualified to enter tertiary institutions, going up to 66.4 percent in 2009.

Mrs Owusu-Ansah praised the Parent Teacher Association (PTA) for putting up two staff bungalows, a-500 metre fence with three security posts at the entry points and the supply of two double-decker refrigerators.

She appealed for the construction of assembly and dining halls, as well as, a kitchen.

Source: GNA