Sack ‘incompetent’ Terkper – Group charges

The Progressive Nationalist Front (PNF) has called for the head of the Finance Minister, Seth Terkper because, as they put it, his management of the economy is fast forwarding it into the abyss.

In a release signed by Richard Nyamah and Fred Amankwah Sarfo, the grouping stated that “we have since Mr. Seth Terkper took over as Finance Minister observed with keen interest his management of the Ghanaian economy which is fast forwarding into an abyss with him looking on helplessly due to his incompetence.”

The grouping stated that after assumption of office, Mr. Terkper “has superintended over a revenue deficit of GH¢2.7 billion as of August 2013 while borrowing on average some GH¢1.1 billion per month to add to the already HIPC bound public debt which now stands at a staggering GH¢43.9 billion. In the case of the revenue deficit, it has resulted in government being unable to make statutory payments which will let this country function.”

For instance, the PNF indicated that “the NHIF, DACF, GETFund, Road Fund, among others, have not been paid in almost 10 months into the year. The minister is expected to present his next year’s budget next month. The question is if he is yet to pay the monies indicated in his last budget whilst he is about to read his next budget, then what is the purpose of a budget?”

For a Finance Minister, who portrays himself as a tax man with a solid accounting background, the grouping observed that “it is amazing that under him therefore our tax revenues are falling after the most stringent tax measures and schemes have been rolled out.”

The President and the Minister, the PNF alleged, have misapplied the country’s resources for the benefit of their friends and cronies, pointing out that “a cursory look at the GYEEDA report for instance tells you that GYEEDA takes its funding from the same sources as the statutory agencies which have not been paid since this government came into power.”

“Although these agencies have not been funded for some nine months now, GYEEDA has expended an estimated GH¢1.3 billion as at July, 2013 including a debt of GH¢250 million. Curiously, the government owes GETFUND, Road Fund, DACF, and NHIS virtually the same amount that has been expended on GYEEDA.”

When Mr. Terkper took over the ministry, he gave express instructions to the Head of Civil service for the immediate removal of the following people at the ministry; Chief Director, Enoch Cobbinah, Director of Budget, S.P Kyei, Director of Administration, Romoe Adu Tutu and called for the immediate transfer or removal of some 30 other senior directors at the ministry for no apparent reason, PNF recalled, adding that he is currently reaping the repercussions of his actions.

The result it is that there is lack of experience, institutional memory and expertise to steer the affairs of the nation. Note that most of these people have spanned various governments from Rawlings to Mills, thereby learning the nuances of the various governments and their biases, as well as how to handle them. Mr. Terkper has become the proverbial “Konongo Kaya” who cannot carry the ministry but will not allow himself to be helped.

The grouping recommended that the minister be dismissed and called on Parliament to, as a matter of urgency, summon him over the messed economy.

Any attempt to seek further Eurobonds should be blocked and that a committee of experts with international and local background must be put together to steer the country away from the mess the economy is in before a substantive Minister is appointed, it said.