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General News of Friday, 24 March 2017

Source: GhanaWeb

Minority kicks against earmarked fund capping and realignment bill

Minority Members in Parliament are kicking against the earmarked fund capping and realignment bill laid before parliament, describing the bill as ‘visionless’.

Finance Minister, Ken Ofori-Atta, who laid the bill before Parliament argued that the bill is part of the current government’s desire to address the rigidities and imbalance in public expenditure adding that, if not passed into law, it ramification on revenue is a clear indication that the rationalization of statutory funding in annual budgets has the tendency of affecting governments’ financial plan.

But Minority Members in Parliament who argued to the contrary noted that the bill if passed into law will channel usage the internally generated funds state own enterprises to the sole prerogative of the Finance Ministry, hence dwindling the resource available for the government agencies to run effectively.

Member of Parliament for Bolgatanka Central, Isaac Adongo, contributing to the debate of the floor of Parliament argued that the ‘elephant sized’ government Akufo-Addo led administration defeats their attempt to free the budget of rigidities.

Minority Leader in Parliament, Haruna Iddrisu also lashed out at the Minister for finance, Ken Ofori-Atta for capping especially the budgetary allocation to the District Assembly Common Fund describing the move as illegal.

According to Member of Parliament for Ho Central, George Kofi Nfodjoh, the bill will retard initiatives of State owned Enterprises and imped developmental projects being executed by the some these SOEs