Takoradi, Oct. 21, GNA - Mr Kwame Osei-Prempeh, Board Chairman of the Ghana Supply Commission Limited (GSCL) said the rejuvenation of the GSCL, will transform it into a world class entity that would pay impressive dividends to its sole share holder. He said the GSCL which became dormant over a long period of time managed to pay its 2005 and 2006 dividends to the government, who is the only shareholder. Mr Osei-Prempeh said these at the opening of a third branch of the GSCL at Takoradi on Monday. He said the opening of the office was to make the presence of the company felt nationwide and as well as create employment opportunities for many. The Board Chairman hinted that a similar office will soon be opened at Boankra in the Ashanti Region when the inland port becomes fully operational. Mr Osei-Prempeh however stressed that its proposal for the conduct of procurement audit or value for money assessment by the ministries, departments and agencies must be approved to enable it expand its activities.

Mr Sampson A. L. Hammond, a Special Assistant at the Ministry of Finance and Economic Planning said the introduction of procurement consultancy, procurement audit and training of procurement personnel should generate some revenue for the GSCL to enable it meet its expected targets and budget. He charged the management to be fair, transparent and honest in their shipping and clearing duties to avoid fraud. Mr Hammond urged management to institute a reward package to encourage the staff to give-off their best. Nana Kusi Appiah, Managing Director of GSCL said the company was in 1960 establsihed as the central purchasing agent for the government, but later in 1990 the PNDC law 245 was used to regulate its operations and in 1999 it came under the Ghana Companies Code of 1963. He said the company in 1995 paid a dividend of 10,000 Ghana cedis to the government, but it managed to survive and with the restructuring and rejuvenation, the company had turned its fortunes around. 21 Oct. 08