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Business News of Tuesday, 2 January 2018


Government pays one billion cedis to road contractors – Minister reveals

The Minister of Roads and Highways, Kwesi Amoako Atta has stated that government has paid over one billion cedis, within the past 11 months to road contractors as part of arrears from the erstwhile administration.

The Minster added that the government has arranged to disburse another Ghc120 million outstanding arrears to contractors between two and five years.

Mr Kwesi Amoako Atta made this revelation at the swearing-in ceremony of a new nine-member committee for the Ministry of Roads and highways in Accra.

He explained that, the road fund, which was supposed to receive on average of Ghc 70 to Ghc 80 million every month had not gotten the required amount due to loan contracted from the Universal Bank of Africa, where the government pays Ghc 67 million every month to the bank at an interest rate of 30 % which will end in August next year.

According to him, “we don’t want to default in payment in view of the financial consequences we may suffer, therefore we should be creative and innovative so that we can bring out ideas to deal with the road issues,” he stated.

However, the minister urged the board to bring their expertise on board to ensure quality roads in our country are realized.