Minority angrily reacts as Parliament approves GNPC loan; total debt over GHc300m

Minority angrily reacts as Parliament approves GNPC loan; total debt over GHc300m

- The Minority side in Parliament has expressed surprise at the approval of funds borrowed from the GNPC

- It argued that it was unnecessary and that the GNPC has been reduced to a financial institution

- Details show that successive governments have borrowed over $300 million from the GNPC

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YEN.com.gh has learned that the Minority side in Parliament is upset over money borrowed from the Ghana National Petroleum Corporation (GNPC).

In its opinion, the move is unnecessary and has reduced the institution to one of a financial nature.

Information available shows that governments have, over the years, consistently borrowed directly or indirectly from the GNPC.

READ ALSO: Parliament approves tax waiver of $10.1m for delivery of medical drones

This has consequently affected the core mandate of the Corporation, starrfm.com reports.

Presently, the government owes the GNPC more than $300 million dollars and the Minority side is not too happy with the situation.

It has been gathered that Parliament, on Tuesday, 14 July 2020, approved a €56,153,500.000 facility from Deutsche Bank AG and Global Services (UK) Limited for the construction of health facilities in parts of the country.

Details of the project show that two trauma hospitals would be built; one in the Ashanti region and the other in the Eastern region.

Minority angrily reacts as Parliament approves $500m loan from GNPC
Speaker of Parliament, Professor Aaron Mike Ocquaye Source: Graphic Online
Source: UGC

The projects, expected to be completed within three years of commencement, are listed in the 2020 Budget and Financial Policy Statement which was presented by the Minister of Finance, Ken Ofori-Atta.

In other news, Parliament has approved a tax waiver of $3.2 million for the procurement of KAPEK scientific math sets for the three senior high school WASSCE candidates.

The West African Examination Council (WAEC) resolved that the supply of the math sets to students would reduce examination malpractices.

The Chairman of the Finance Committee, Dr. Mark Assibey Yeboah, made this known while laying the report to the House.

READ ALSO: Phase II of Tamale Airport: Parliament approves 20.9 million tax waiver

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Source: Yen News

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