Smarttys To Refund GHC 1.5m In Three Installments

Smarttys To Refund GHC 1.5m In Three Installments

The Flagstaff House has revealed that the Smarttys Management and Productions Limited will pay back the excess amount of the re-spraying and branding of 116 new buses for the Ministry of Transport.

According to a statement released by the Flagstaff House the payment schedule from the lawyers of the company indicate that the amount will be made in three installments with the first to be paid by the end of January, 2016.

The Flagstaff House also said th has confirmed that the total amount to be refunded has been reviewed from GH¢1.9 million to GHC1,548,608.04.

The statement explained the review that “because of the revised Value Added Tax position, revised Withholding Tax position and a set-off of GHC27,173.74 being over deduction of withholding tax on the original payment”.

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Meanwhile, the Ghana Integrity Initiative said it is not enough for Smartty's to just refund the money back to the state. "... I think that the government needs to sit up on this if they want to show that they are serious about fighting corruption," Executive Secretary of GII, Vitus Azeem said on Joy FM.

An amount of GHC3,649, 000 to rebrand 116 buses was taken from Ghana’s petroleum revenue as captured in the 2015 report of the Public Interest Accountability Committee (PIAC) which monitors the use of the oil revenue.

The foul-smelling contract has raised eyebrows and sparked a growing public uproar across the country, fuelled by a disclosure by Crystal Concept, the company which did the actual rebranding of the entire 116 buses, that it was paid a paltry total amount of GHC11,600 for the entire job and not GHC3.6 million.

 

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