Finance Minister, Ken Ofori-Atta appearing before Parliament, Monday, to brief the House on measures government has taken towards the economic disruptions of the pandemic proposed the amendment of the Petroleum Revenue Management Act to allow the government to utilize portions of the Heritage Fund.
He disclosed that Ghana’s economy will lose GH¢9.5 billion due to the outbreak.
“Speaker, the total estimated fiscal impact from the shortfall in petroleum receipts, shortfall import duties, the shortfall in other tax revenues, the cost of the preparedness plan, and the cost of Coronavirus Alleviation Programme is GH¢9,505 billion,” he said.
But Mr. Ablakwa in a Facebook post suggested that government, among others, should suspend all ex-gratia payments, lay off all Personal/Special Assistants to Ministers and Presidential Staffers and reduce by 60% the number of Ministers and Presidential Staffers instead of emptying the Heritage Fund which was set up to save oil revenue for the future generations of Ghanaians.
Below is Ablakwa’s full post:
After listening to the Hon. Finance Minister in Parliament earlier today justify the need to use the heritage fund in the fight against COVID-19, I shall humbly submit that before the Akufo-Addo administration depletes the heritage fund reserved for the next generation, we first consider the following 10 suggestions:
1) 50% pay cut for all political office holders;
2) Reduce by 60% the number of Ministers and Presidential Staffers;
3) Close and realign many of the Ministries which would become redundant after the ministerial downsizing;
4) Lay off all Personal/Special Assistants to Ministers and Presidential Staffers;
5) Suspend all Ex-Gratia payments;
6) Interim closure of at least 50% of our diplomatic missions abroad and recall staff to Accra;
7) Cancel contracts of all consultants in the public sector;
8) Put a freeze on all prestige projects which can wait including the national cathedral, marine drive project, new passport office and the regional coordinating council offices for the six new regions;
9) Suspend the phenomenon of free fuel for the category of public servants who benefit;
10) Repeal all tax waivers granted in recent years for non-essential services and commodities with the view to abolishing the practice moving forward.
If we muster the political will to do these, the heritage fund will most likely be left intact for our children.
May the generation that will come after us not be disappointed that we bequeathed them with virtually nothing because we refused to sacrifice and consider other patriotic options in this watershed period of history.
Samuel Okudzeto Ablakwa, North Tongu MP