Sunday , 29 January 2023

Parliament suspends over GH₵‎2bn estimate for Finance Ministry

Parliament has put on hold the approval of over GHS 2 billion budget estimate for the services of the Finance Ministry for the year 2023.

This came after the Minority raised concerns about the allocation of  GHS 1 billion for resource mobilisation by the Ministry within the estimates.

The group said until the Ministry provides the needed details on the essence of the allocation for resource mobilisation, it cannot support its approval.

Minority Leader, Haruna Iddrisu speaking on the floor of Parliament argued that, the budgetary estimate was untenable.

“We want government to cut expenditure so we are not convinced. Why do you need GHS 1 billion to mobilize resources. As far as we know we know, resource mobilization is collection of taxes in a manner which is effective and efficient. So if the the Ministry of Finance does not give a convincing explanation, we think that this is part of what they should be cutting from the budget to save the country the GHS1 billion. Isn’t it GRA which should be mobilizing resources by collecting taxes? Why are you giving this money to the Ministry of Finance? To do what?” he quizzed.

But Deputy Finance Minister, Abena Osei Asare disagrees saying that the allocation is justified.

She maintained that part of the resource mobilisation seeks to strengthen institutional capacity for economic management.

“As part of the breakdown, we showed that GHS 5.2 million of this is going to be used for the strengthening institutional capacity for economic management. We also mentioned that, the Financial Sector Development project where we are going to maintain and operate the core banking system is also part of this allocation. That is GHS 79 million. The Ghana Development Finance project which under the development bank operationalization will also take about GHS 110 million. The GIFMIS ICT infrastructure system will also be upgraded and it also take a take portion.

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