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GHC2.75bn SAVED IN THREE YEARS BY REVIEWING NDC CONTRACTS

Politics

The country would have lost GHC2.75 billion through contracts which were either sole-sourced or procured through restrictive tender under the National Democratic Congress governments, had the present Akufo-Addo led government not reviewed them.

The country would have lost GHC2.75 billion through contracts which were either sole-sourced or procured through restrictive tender under the National Democratic Congress governments, had the present Akufo-Addo led government not reviewed them.

According to the Minister for Finance, Ken Ofori-Atta, the government saved the nation GHC800 million in 2017, GHC1.1 billion in 2018 and GHC1.085bn in 2019.

Mr Ofori-Atta made this disclosure last week while presenting the mid-year Budget review in Parliament.

Action by PPA

“Mr Speaker, permit me to compare these savings made by the Public Procurement Authority under this administration to what happened under the previous one, even though more contracts were awarded through sole sourcing and restrictive tender annually than any year under this government.

“In 2013 savings registered was zero cedis. In 2014, again, savings made amounted to zero cedis.
“In 2015, savings made totalled zero cedis. In 2016, again the PPA made zero cedis in savings,” he said.

Public money

Mr Ofori-Atta said it is important that the Akufo-Addo-led government ensures that it uses public funds judiciously for the benefit of all Ghanaians.

“When it comes to how taxpayers’ monies have been managed, the facts and figures … speak loudly. We believe it is very important on days like this we show to the people of Ghana that this government, their government, the Akufo-Addo government, the New Patriotic Party government ‒ your government ‒ spends the taxes you pay for your benefit and for the benefit of the collective.

“This is because we consider the social contract between government and the people as a sacred covenant,” the Finance Minister told the House and nation.

He said that even though the government has been able to make substantial gains by managing the economy prudently, it is not enough, because many Ghanaians are still suffering. This, he said, is a matter of grave concern to the President.

More work to be done

“In each of the 57 or so cabinet meetings we have attended in the last 31 months, the President is always quick to remind us, to stress to us, his ministers, the urgency in meeting the needs and aspirations of the Ghanaian people,” Mr Ofori-Atta said.

“Just last week, as we discussed the details of this statement I am reading now, the President reminded us that in spite of all that we have managed to achieve so far, too many Ghanaians are still suffering. He reminds us that we are certainly not there yet,” he said.

The Finance Minister said the government is making strenuous efforts to address the numerous challenges facing Ghanaians, including fixing the country’s roads, giving support to farmers, and improving working conditions for farmers, teachers, nurses and security officers.

“The Akufo-Addo government leads, serves and obeys. The evidence is mightily clear that we offer better and assured leadership in managing the Ghanaian economy,” Mr Ofori-Atta said. “All key indicators for building a stronger economy have been cured effectively and are stronger now than they were 31 months ago.”

Some of the indicators, the Finance Minister reiterated, include single-digit inflation, the drop in interest rates, strong external payments, stable exchange rates, a fiscal deficit reduced to 5 per cent and a robust real GDP growth.

Other gains include a debt-to-GDP ratio below 60 per cent and the recapitalisation of the banking sector.