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Business News of Friday, 24 July 2020

Source: angelonline.com.gh

We have relegated ‘dumsor’ to the past – Finance Minister


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The Minister of Finance, Ken Ofori-Atta, says the Akufo-Addo-led administration has succeeded in relegating the phenomenon of dumsor to the past.

He made this remark while presenting the Mid-Year Review of the budget statement and economic policy of the Government of Ghana for the 2020 Financial Year on Thursday, July 23, 2020 on the floor of Parliament.

The minister was performing his constitutional mandate in accordance with Article 179 (8) of the 1992 Constitution and standing orders 143 of Parliament.

“We have, Mr. Speaker relegated dumsor to the past. It is clear to our fellow Ghanaians by now that we have enjoyed three and a half years of reliable and cheaper power.”

According to Ken Ofori-Atta, an excess of 4.7 billion cedis has been spent on capacity payment to ensure that the lights do not go out.

He added that the money also catered for power that was not used under a questionable contractual obligations for the Akufo-Addo government to inherit.

Mr. Ofori-Atta declared that looking back at where the nation was compared to where it is now, “we can’t help but be grateful to God.”

The minister stated that there was low productivity, deteriorating standards of living as well as a general despondency at the time they took over the economy in January 2017.

He also noted that government set out to invest significant resources in the lives of the Ghanaian people by increasing expenditure in education, agriculture, industry and all human capital.

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