Parliament okays GH¢29 billion for development projects in 2016 fiscal year 


Parliament has authorized government to utilize about 29-point-nine Billion Ghana Cedis to cater for what is termed Other Government Obligations in the 2016 fiscal year. The amount will be used for nineteen different activities, programs and payments into some statutory funds for the year. 

Under the estimate for Other Government Obligations about ten-point four billion will be used to retire some domestic and external interest on borrowed facilities. 

The House endorsed the figure when the Chairman of the Finance Committee James Avedzi presented a report of the Committee for the approval of the estimate. 

The beneficiaries of the over 29 billion Ghana Cedis allocation include the GETFund, National Health Fund, District Assemblies’ Common Fund and payments for pensions and gratuities. 

Presenting the report, the Chairman of the Committee James Avedzi explained that part of the said amount will also be used as petroleum subsidy in the petroleum price build-up that cater for premix and residual fuels. 

He explained that government is maintaining its policy regime on premix fuel as part of social intervention programmes to alleviate the plight of members of fishing communities across the country.

GBC