MP for Bolga Central and a member of the Finance Committee of Parlaiment, Isaac Adongo, is accusing government of as he put it ‘scheming’ to sell state enterprises to raise funds for the 2018 budget.
He suspects the Vice-President and the Minister of Finance recent comments on SOEs is a deliberate attempt to skew public opinion to water the ground to make it easier to effect their plan.
Mr Adongo who spoke to XYZ News argued that the performance of the economy in terms of revenue generation exposes government’s inability to create avenues to raise money needed for its ambitious projects.
“the posturing of government over the last couple of weeks has been quite clear about the intention. if you recall the 2017 budget they have already programmed to sell state asset to the tune of 1.8billion Ghana cedis. The performance of the SOEs . They have no choice in terms of how to”
Mr Adongo also said the decision to sell the state assets to fund budget is a show of lack of competence.
“They have no choice in how to raise revenue for they have no innovation so they are thinking of how to sell the state assets to fund the budget and that is clearly a lack of competence.”
“In the 2017, the government came with a very ambitious program to increase revenue by 34 percent. We said that to raise that amount of money in one year will be so hard given our revenue base. We thought that it wasn’t achievable given our revenue base.The IMF was quite clear that if any government that will achieve this, they will come and borrow from that government. That was a sarcastic statement which tells you that they don’t believe in the number.”
The MP indicated that currently the revenue has fallen by about 6 billion in the first half of the year. He also predicted that by the first half of the year Ghana would add about 17 billion cedis to its public debt.