Minority legislators with Parliament’s Appointments Committee said they cannot be part of the vetting of Joseph Cudjoe, the Minister-designate for Public Enterprises. Minority Leader, Haruna Iddrisu said their objection is fundamental in the sense that Joseph Osei Owusu, the Chairman of the Committee gets in touch with the presidency to get them a formal correspondence regarding the Public Enterprises office. “Even if it takes midnight with correspondence from the presidency we will be here to work. As we proceed there is no Ministry for Public Enterprises and our hands are tied because we should be assessing him based on the role he is going to play,” he said Tuesday. He said per the Chairman’s ruling that the Committee can go ahead with the vetting and sort out the issue with the presidency later, they need to be clear of the purpose for which they are to do so. The Tamale South MP said he wants to consult with his other colleagues in the Minority to decide what their next step will be if they don’t get “further and better particulars to proceed with the vetting”. On his part, Deputy Majority Leader Alex Afenyo Markins said the Minority should listen to Mr Osei Owusu so they proceed and sort the issue out later but Mr Iddrisu disagreed. “Mr Chairman, my application is before you, it is not my intention that we take sides in this national exercise but momentarily for honourable Cudjoe, our side will just sit and observe whilst we wait for clarity and better particulars,” the former Employment Minister said. He added that the Minority does not intend to take part in further proceedings “until we receive satisfactory explanation from the office of the president.” Earlier, the nominee was asked by the Bawku Central MP, Mahama Ayariga what his mandate will be seeking to clarify. The MP wanted to know whether the Ministry is about managing state enterprises and corporation. Mr Cudjoe said his mandate is to ensure that Public Enterprises and Corporations run efficiently and effectively so they do not become a drain on government finances. He explained that government has for some time noted how such entities are managed and the losses they make so the Ministry steps in to prevent such occurrences. Gideon Kwesi Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0555568093
Large fiscal benefits projected from proposed petroleum hub
Ghana is expected to rake in US$1.56bn in export tax revenue by 2030 from the development of a petroleum hub to add value to the country’s petroleum resources. The projection was contained in the report of the Parliamentary Select Committee on Mines and Energy on the Petroleum Hub Development Corporation Bill 2020. The purpose of the bill is to establish the Petroleum Hub Development Corporation to promote and develop a petroleum and petrochemicals hub in the country. Speaking during the second reading of the bill on Tuesday, a Deputy Minister for Energy, Joseph Cudjoe, said the hub will propel a 130 percent increase in GDP through the injection of US$60bn worth of investments into Ghana’s economy by the year 2030. The development of the hub will include construction of key infrastructure such as jetties, storage tanks, refineries, an LNG facility, power plants, and infrastructure for offshore activities. The project is expected to contribute enormously to economic growth through value addition to petroleum resources and job creation. The hub, the report said, will drive the growth of various industries including petrochemicals and create 780,000 direct and indirect jobs. Other anticipated benefits are tax receipts from downstream value chain operations and the provision of basic social amenities, such as schools, health facilities and leisure parks. The establishment of a public corporation to oversee the development of the hub will provide the needed confidence to potential investors who are desirous of investing in it, the report said. Government is expected to contribute US$6bn of the total investment target of US$60bn, with private capital providing the remainder. The government will also provide the initial basic infrastructure, including land, road and railway networks, water and electricity. Business 24 Please kindly contact apexnewsgh.com on Email: apexnewsgh@gmail.com for your credible news publications.









