Securitising GETFund For $1.5 Billion Best Decision By Gov’t – Siaka Stevens

The Chairman of Education Committee in Parliament, Hon. Siaka Stevens, has reiterated the government’s commitment to improving the quality of education in the country, especially the senior high level.

Stressing on the need to have the right infrastructure in place to house all students qualified for senior high education, the MP noted that, it is worthwhile for the New Patriotic Party (NPP) administration to mobilise funds to develop schools selected for the double-track system.

Speaking on ‘Inside Politics’ on Radio XYZ 93.1 on Monday afternoon, the educationist said the government was making efforts to raise a $1.5 billion to develop more infrastructure in most of the second cycle schools running under the double-track system.

The amount, he disclosed, will be raised from both local and international sources, adding that 40% of the Ghana Education Trust Fund (GETFund) will be used to securitise it.

Currently, the government has selected some schools to run the double-track system to give education access to Junior High school graduates who hitherto would not have had access to secondary education due to the lack of space and adequate logistics.

The new programme creates a calendar of two semesters in a year for the SHS 1 class containing 81 days per each semester and 41 days of vacation for a sandwich class.

The new system has been faced with logistical challenges, marring the government’s pro-poor flagship programme which has been able to enroll almost 400,000 students in 2018.

However, Mr Stevens believes when government is able to raise the $1.5 billion, most of the infrastructure challenges will be surmounted, and the double-track system will end in the next four or five years.

“This will not add to our public debt. This is a prudent borrowing,” he told host of Inside Politics, Mugabe Maase and explained that the GETFund being used “as a sort of collateral will not affect” the country negatively.

He went on to say the Ministry of Education has proposed the securitisation of the  GETFund before Parliament for approval.

When the funds are secured, about $500 million will be used to complete about 766 GETFund projects that have stalled for quite long. Other new projects will be initiated to ensure that infrastructure challenges within senior high schools are tackled.

 

By: Henryson Okrah/myxyzonline.com