There is hardship in Ghana, I know this as a fact – Dep. Finance Minister
A Deputy Finance Minister has admitted that indeed Ghana is hard, reechoing sentiments former President John Dramani Mahama Mahama has been accused of spreading when, in fact, according to the ruling party, there is no hardship. It will be recalled that Mr. Mahama has claimed that poor management of the country under the leadership of Nana Akufo-Addo, has led to unprecedented levels of hardship in the country. In response, the NPP’s Director of Communication, Yaw Buaben Asamoa, said at a news conference that the country is in a good state, and that President Akufo-Addo is working hard to increase productivity and improve livelihoods. He thus suggested that the former president is poisoning the minds of Ghanaians that times are hard when it is not true. In further response, Mr. Mahama also slammed the governing New Patriotic Party for suggesting that he’s the one fueling a perception of hardship in the country. Now, however, a deputy Finance Minister John Kumah, who is also Member of Parliament for Ejisu has confessed that times are hard. He was speaking on an Okay FM interview monitored by MyNewsGh.com. According to him, the hardship is not limited to Ghana, and that it is a global phenomenon. “It [hardship] is not only in Ghana, it is global. There is hardship everywhere. It is caused by Covid-19… hardship has led to a rise in prices. Check from America, Europe, Canada and elsewhere. A container we used to import from China at $3500 today it is $13,500. Call them and ask them. Over there, what they used to buy at $5 is now $15 dollars, that’s what’s happening all over the world. It is ship cost that has made things expensive.” Mr. Kumah explained. “That is why there is hardship in Ghana. But we are making efforts to reduce the hardship. We have brought Free SHS to reduce the burden. The Ghc2000 Ghc3000 you need to pay fees has been taken off. We have reduced electricity for life line consumers. We are paying teachers and nursing trainees.” He added. On Cedi depreciation, he had an explanatio: “It is true that the cedi has gone to 6cedis but as Mr. Bawumia said, it is also doing better. This is one of the best times for any government in Ghana. This year the cedi has depreciated by 1.8% … The whole of 2020, it depreciated by 4.5%.” —MyNewsGh.com Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: +2335555568093
ESLA introduced by Seth Terkper very helpful to Akufo-Addo’s government-John Kumah
Mr. John Kumah, the deputy Finance Minister-designate has revealed that the Energy Sector Levy Act (ESLA) introduced by Seth Terkper the former Finance Minister under the Mahama administration, has been so supportive to the Akufo-Addo- Bawumia government especially in clearing a lot of energy sector-related debts. Mr. Kumah was speaking on Class91.3FM’s current affairs programme monitored by Apexnewsgh.com. “In fact”, Dr. Kumah noted, Mr. Terkper, his co-discussant on the show, “was the first person in Ghana to address that problem; that going forward, we cannot handle the debt situation with respect to energy without a special vehicle”. “But it has helped to raise revenue”, he acknowledged. The former chief executive officer of the National Entrepreneurship and Innovation Programme (NEIP) said: “In fact, as of June last year, per the data, we had paid GHS12 billion under ESLA alone for trying to clear debt”. “This year alone, per the data I checked, we had spent almost GHS2 billion and still continuing the energy sector recovery debt and right now, a number of legacy debts – you remember back in 2017, we used to have TOR debt, BOST debt, GNPC debt, VRA debt, ECG debt and even BDCs; last year, the BDCs made an announcement that all their debts had been cleared”, “It is all as a result of this ESLA levy that was introduced”, he noted, adding: “It is true; it is helping and the government of Ghana, I think in 2017, the government also introduced a new vehicle based on this ESLA called ESLA PLC, which raised about GHS10 billion in bonds to be able to help address this take-or-pay contract and I’m happy Hon Seth Terkper said that even they, while they were in office, thought that the take-or-pay was a bad arrangement, so, they had to replace it”. “So, we must all understand that there’s a problem which has been created and we are all working to resolve it”, He stressed Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 05555568093