Debates of 26 Jun 2013

MR SPEAKER
PRAYERS 10:45 a.m.
VOTES AND PROCEEDINGS AND THE OFFICIAL REPORT 10:45 a.m.
  • [No correction was made to the Votes and Proceedings of Tuesday, 25th June, 2013.]
    • Mr EdemAsimah 10:45 a.m.
    Mr Speaker, I can see in the Chamber the Hon Minority Leader who is improperly dressed -- [Laughter.]
    Mr Speaker 10:45 a.m.
    Hon Members --
    Mr Mohammed B. J. Ahmed 10:45 a.m.
    Mr Speaker, it is sad that he is gone. This is because we the new Hon Members of this House are learning from them. So his dressing was very unfortunate at this stage -- [Interruption]
    Papa Owusu-Ankomah 10:45 a.m.
    Mr Speaker, I will apologise on behalf of the Hon Minority Leader for the way he dressed. I met him in the Lobby and he said he was travelling, so, he was not coming into the Chamber, but there was a matter that needed to be discussed. And if Hon Members would have observed, he was standing beside me. So, it was not his intention to come into the Chamber. He is
    -- 10:45 a.m.
    Mr Speaker 10:45 a.m.
    Hon Members, the Hon Member for Sekondi is absolutely right. The Hon Minority Leader is travelling out of the jurisdiction today. So, he did not

    intend entering the Chamber as the Hon Member for Sekondi indicated.

    Hon Members, let us transact business.

    Hon Members, we have two Official Reports for correction.

    We start with the first one, Official Report of Thursday, 20th June, 2013.

    Yes, Hon Member for Shai/Osudoku.
    Mr James K. Avedzi 11:55 a.m.


    The Committee was informed that the bond issue will cost the country about US$2,103,805.The detailed breakdown of the component was given as follows:

    Fees Amount (US$)

    Lead managers 625,000

    Co-managers 158,000

    International legal counsel 417,647

    Local counsel 63,158

    Rating agencies 300,000

    Total fees 1,563,805

    Expenses

    Joint Lead expenses* 500,000

    International counsel expenses** 40,000

    Total expenses 540,000

    Grand total 2,103,805

    As per cent of issue ($1 billion) 0.21per cent

    *Capped expenses **Estimated

    Conclusion

    The Committee has carefully examined the request and realised that the Bond issue will help raise the needed funds to accelerate infrastructural projects and partially redeem Ghana 2017 Bond as well as re-finance the maturing domestic debts. The Committee, therefore, respectfully

    recommends to the House to adopt its Report and approve the request for approval of Government of Ghana's access to the International Capital Market to issue a second Eurobond up to one billion United States dollars(US$1.0 billion) in accordance with article 181 of the 1992 Constitution, section 7 of the Loans Act, 1970 (Act 335) and Order 171 of the Standing Orders of the House.

    Correction of errors of substance may be made only on the floor of the House with the permission of the Speaker. However, correction of typographical or grammatical errors which Members suggest for the Bound Volumes which will be compiled at the end of the Meeting may be clearly marked in the Daily Report, and the copy containing the corrections must be received at the Editor's Office, Parliament House, not later than four clear days after the publication of the Daily Report.

    BOUND VOLUMES of Debates (with comprehensive Index) are issued periodically during the Ses- sion. There is no fixed subscription rate, but prices will be quoted and standing orders entered on application.

    Printed by Department of Official Report Parliament House, Accra
    STATEMENTS -- 11:55 a.m.
    MOTIONS -- 11:55 a.m.
    RESOLUTIONS -- 11:55 a.m.
    CONSIDERATION STAGE OF BILLS -- 11:55 a.m.
    PARLIAMENTARY DEBATES 11:55 a.m.
    OFFICIAL REPORT 11:55 a.m.
    CONTENTS 11:55 a.m.
    THE 11:55 a.m.
    PARLIAMENT OF THE REPUBLIC 11:55 a.m.
    OF GHANA 11:55 a.m.
    MR SPEAKER
    PRAYERS 10:45 a.m.
    VOTES AND PROCEEDINGS AND THE OFFICIAL REPORT 10:45 a.m.
  • [No correction was made to the Votes and Proceedings of Tuesday, 25th June, 2013.]
    • Mr EdemAsimah 10:45 a.m.
    Mr Speaker, I can see in the Chamber the Hon Minority Leader who is improperly dressed -- [Laughter.]
    Mr Speaker 10:45 a.m.
    Hon Members --
    Mr Mohammed B. J. Ahmed 10:45 a.m.
    Mr Speaker, it is sad that he is gone. This is because we the new Hon Members of this House are learning from them. So his dressing was very unfortunate at this stage -- [Interruption]
    Papa Owusu-Ankomah 10:45 a.m.
    Mr Speaker, I will apologise on behalf of the Hon Minority Leader for the way he dressed. I met him in the Lobby and he said he was travelling, so, he was not coming into the Chamber, but there was a matter that needed to be discussed. And if Hon Members would have observed, he was standing beside me. So, it was not his intention to come into the Chamber. He is
    -- 10:45 a.m.
    Mr Speaker 10:45 a.m.
    Hon Members, the Hon Member for Sekondi is absolutely right. The Hon Minority Leader is travelling out of the jurisdiction today. So, he did not

    intend entering the Chamber as the Hon Member for Sekondi indicated.

    Hon Members, let us transact business.

    Hon Members, we have two Official Reports for correction.

    We start with the first one, Official Report of Thursday, 20th June, 2013.

    Yes, Hon Member for Shai/Osudoku.
    Mr David T. Assumeng 10:45 a.m.
    Mr Speaker, column 686, second paragraph --
    “Mr David T. Assumeng (NDC -- Shai/Osukodu)”
    Mr Speaker, the “Osukodu” is not well spelt. It should be “O-S-U-D-O-K-U”.
    Mr Speaker 10:45 a.m.
    Very well.
    Hon Member for Bekwai --
    Mr Joseph Osei-Owusu 10:45 a.m.
    Mr Speaker, I really wish to bring up an issue in respect of correcting our Official Reports --
    Mr Speaker 10:45 a.m.
    Hon Member, you should see me in my Chambers -- [Interruption] -- I so direct.
    Mr Domonic B. A. Nitiwul 10:45 a.m.
    Mr Speaker, well, the authority of the Speaker cannot be challenged --
    Mr Speaker 10:45 a.m.
    Yes.
    Mr Nitiwul 10:45 a.m.
    Neither can the rule of the Speaker. But Mr Speaker, you see, when everyday you are served with groundnut soup, sometimes there should be a change.
    Yesterday, you told the Hon Ranking Member for the Finance Committee to see you in your Chambers and then today, you have told the Hon Member for Bekwai to see you in your Chambers.
    Mr Speaker, I am sure, if you share your experience here on matters that they ask, it will help all of us. In your Chambers, it is just the two of you. So, I am sure that if you were to share your experiences here on the floor with us, well, at least, some of us would learn, Mr Speaker.
    Mr Speaker 10:45 a.m.
    Hon Member, I agree but after the discussion, I will let him raise the matter on the floor.
    Hon Members, the Official Report of Thursday, 20th June, 2013 as corrected, is hereby adopted as the true record of proceedings.
  • [No correction was made to the Official Report of Friday, 21th June, 2013.]
    • Mr Speaker 10:45 a.m.
    Hon Members, today is the International Day against Drug Abuse and Illicit Drug Trafficking and I have admitted one Statement to commemorate the day.
    The Statement stands in the name of the Hon Member for Keta.
    STATEMENTS 10:55 a.m.
    Mr Richard M. Quashigah (NDC -- Keta) 10:55 a.m.
    Mr Speaker, thank you for giving me the opportunity to make the Statement in commemoration of the International Day Against Drug Abuse and Illicit Drug Trafficking, which falls today, Wednesday, 265h June, 2013, which is being observed under the theme: “Make Health Your New- High In Life”.
    Mr Speaker, the United Nations General Assembly in its wisdom, set aside June 26 every year to highlight its effort to addressing drug menace across the globe. Twenty-seven (27) years since its
    inception, it is crucially important that we take stock of how far we have come in our quest to minimise, if not eliminate drug abuse in order to make this world a safer place to live in.
    Mr Speaker, the 2012 Report of the United Nations Office on Drugs and Crime (UNODC) estimates that nearly 300 million people aged 15-64 (3.4-6.6 per cent of the world's population in that age group) had used an illicit substance -- cocaine, cannabis, hallucinogen, opiates and sedative hypnotic, at least, once in the previous year.
    In his address to mark the day, the UN Secretary-General, Ban Ki-Moon has observed that apart from illicit drugs threatening societiy, the billions of dollars generated by the drugs trade feed corruption, enhance the power of criminal networks and create fear and instability. It is pertinent to note, as is the concern of the UN boss, that the menace has become a major threat to the health and security of people and regions of the world.
    According to him, in West Africa, the eighty-five (85) billion global cocaine trade is exacerbating addiction and money-laundering while fuelling political instability and threat to security.
    In Africa, Mr Speaker, the annual prevalence of cannabis use, particularly in West and Central Africa, is reported as much higher than the global average (5.2- 13.5 per cent of the population aged 15- 64). The usage of cannabis in Africa is estimated at 22,000 to 72,000, with 13,000 to 41,700 drug-related deaths each year.
    Mr Speaker, illicit drug use and substance abuse are now characterised by a concentration among the youth who are expected to be the driving force behind our march to sustainable development. This, indeed, is a worrying situation and
    Mr Emmanuel K. Agyarko (NPP -- Ayawaso West Wuogon) 11:05 a.m.
    Mr Speaker, I rise to speak in support of the Statement ably made by the Hon Member for Keta.
    Mr Speaker, it is important to place on record that the trade in illicit drugs is so huge. It has been estimated that the outturn per year is well over US$200 billion and certainly -- [Interruption] --Oh, the source? You can find it from the International Narcotics Control Report.
    Mr Speaker, it is in 1982, I believe, when the first world summit on narcotics was held. The then Secretary-General of the United Nations (UN), Mr Javier Perez de Cuellar stated something and I can only paraphrase it. He said that this trade was a time bomb ticking in the heart of civilization. Mr Speaker, my emphasis is that, it is important for all of us to realise that it is a serious matter and all of us must confront it.
    It is unfortunate that sometimes-- and I would want to emphasise; it is unfortunate that sometimes, for expediency, political and otherwise, people give colour to it.
    Mr Speaker, I would want to believe that the time has come for all of us as a nation to realise that, like Javier Perez de Cuellar said, it is a time bomb ticking in the heart of civilization. I have had the opportunity to go to Nigeria lately and the reports I heard -- Mr Speaker, I was reliably informed that in the middle of Yola market, narcotics are sold as a commodity. This is exactly how brazen the peddlers of this commodity have become.
    So, therefore, it is important that we all as a nation take a firm stand and go away from the parochial positions we have taken in the past. I would want to say that in the past, a lot of things have happened. But going on from here, we should all rise up as a nation and realise really and truly, that this is a matter that we must take very serious.
    Mr Speaker, in so many years in the past, there have been various attempts to restructure the Narcotics Control Board. I remember that as late as 2007 or 2008, there was a report on its restructuring.
    Mr Speaker, I think that the international best practice today is that, it must be a stand-alone institution. And I would want to believe that some work has been done to that effect in this country. And I would want to say that it is important that it is brought up to Parliament, so that the Narcotics Control Board ceases to be an appendage of a Ministry with all the powers it needs.
    Mr Speaker, I must mention that I have had the opportunity to work there as the Deputy Executive Secretary for a year. And sometimes you would ask yourself, how could somebody who is paid GH¢600

    just stand and will not collect US$10,000 when offered to let some ‘cargo' pass? It is a huge temptation but at least, at the time I was there, and from what I hear, the staff are still not appropriately remunerated. But I would want to believe that if Government goes ahead to do the needful by bringing it up and setting it up as a Commission with improved conditions of service, it might help in our fight against illicit drugs.

    I would want to say that the way forward is for all of us, probably, at this level, to clearly understand the importance and also to help in improving the status of the Narcotics Control Board. I would want to believe that if we do this, it would go a long way in enhancing the fight against this illicit drug trade which, like Javier Perez de Cueller said, it is a timebomb ticking in the heart of civilization.

    But I would want to believe that, collectively, we will be able to do something and save our dear nation.

    Thank you, Mr Speaker.

    Deputy Minister for Information and Media Relations (Mr Murtala M. Ibrahim): Mr Speaker, I rise to support the Statement ably made by my senior Colleague.

    Mr Speaker, this Statement could not have been made anytime better than today -- the extent to which we have to begin looking at de-politicising issues of drugs. Indeed, majority of people who are engaged in such illicit drugs happen to be the youth. Some of them unfortunately, are influenced into taking them in the school. Either they are influenced by their peers, or some of them are also engaged in it as a result of unemployment.

    There are researches proving that if young people do not have opportunities to engage in meaningful employment, depression sets in and as a result, they will be tempted to get into such activities.
    Papa Owusu-Ankomah (NPP -- Sekondi) 11:15 a.m.
    Thank you very much, Mr Speaker, for the opportunity to comment on this commemorative Statement.
    Mr Speaker, the issue of drugs is a very, very important issue in our country. I recall that when I was the Hon Minister responsible for the Interior, some eight years ago, I had an occasion to comment to the British High Commissioner that in my opinion, the greatest threat to our national security, at that time, was the trade in illicit drugs.
    This is because at that time, this country was considered to be a major transit point for these illicit drugs. It is still a major transit point, indeed, the entire West Coast of Africa. Whether young people will use it or others will use it, it depends a lot on the volume of drugs that pass through this country.
    It is also an accepted fact that where democracy thrives and we have adherence to human rights and the economy is open, that is a fertile ground for the trade in drugs.
    Mr Speaker, the threat to the country is so big because with the level of resources that these drug barons can command, they can undermine all institutions in the country-- talk about the Judiciary, talk about even political parties; talk about Parliament itself where Hon Members need resources to campaign.
    So, I believe that as a nation, we should put this high on our agenda. We have got to a state in our democratic development that in certain matters, there is no need for partisanship. One may gain temporary advantage politically, but then when one has got advantage of it, it will also face you.
    In my view, we as Parliament, should have an interface with all institutions dealing with this. This is because as representatives of the people and thereby, probably, their greatest advocates, we need the facts and then present the facts to our constituents and then together form a bond and alliance to fight this illicit drug trafficking.
    At this stage, I will urge the security agencies and the Judiciary that anytime we arrest these people, indeed, we must ensure that the laws of this country are applied to the letter and intelligence is required because it is only through intelligence that you can get the kingpins. You do not need to get those who traffic in pellets and a few ounces of the substance. We need to get to the source.
    But I place on record the efforts that the agencies in this country are making in collaboration with those in the developed economies to tackle this trade. To our partners in the development countries, I would want them to note that it is in their interest that they support us in this fight against illicit trafficking.
    This is because at the end of the day, the greater majority, the greater portion of the drugs that pass through this country
    Mr Speaker 11:15 a.m.
    Hon Members, I will take the Hon Member for Bekwai and then the Hon Member for Pusiga.
    Mr Joseph Osei-Owusu (NPP -- Bekwai) 11:15 a.m.
    Mr Speaker, I thank you very much for the opportunity to contribute to this debate.
    I also wish to congratulate the Hon Member for Keta for making this Statement.
    Mr Speaker, it is gleanable from the Statement made that everyone expects that Ghanaians would support the State agencies responsible for dealing with these illicit drugs and their associate crimes in order to be able to achieve their set agenda.
    Mr Speaker, trade in illicit drugs is often the reason for organised crime. Most of the organised groups that are engaged in crimes are also traders in drugs. That is why Economic and Organised Crime Office (EOCO), as an organisation, was set up for Ghana and in our case, indeed, the powers that are necessary for EOCO to deal with organised crime, probably, related to drugs, have been given except that there appears to be some complaints of abuse of the powers conferred on that organisation.
    Mr Joseph Osei-Owusu (NPP -- Bekwai) 11:15 a.m.


    Mr Speaker, I recall very well the time we were passing the EOCO Bill, the issues that were raised or the fears that some of the pre-emptive powers that have been conferred on them by the law were prone to abuse. From the reports that we are getting, both as a lawyer and an Hon Member of this House, it appears to be that those fears appear to becoming real.

    There are complaints by businessmen that in the recent past, this agency has been freezing accounts from them without any effort or any information that they are being investigated in respect of any crimes organised or otherwise and then when those are frozen, no further step is taken because the power gave them one year to hold the account frozen.

    Mr Speaker, I had the occasion to discuss with the Commission on Human Rights and Administrative Justice (CHRAJ) just over the weekend and they confirmed that they have also received such complaints.

    Mr Speaker, the abuse of power is likely to generate disengagement. The populace will no longer be loyal to that agency --
    Mr Speaker 11:15 a.m.
    Hon Member, for the records, did we pass a law here giving them power to freeze accounts up to one year? I remember presiding over the EOCO Bill in this House. So, what are you referring to? You ought to clarify that position.
    Mr Osei-Owusu 11:15 a.m.
    Mr Speaker, the position I am making is that, if you look at the law giving them the power to freeze, it says: “Pre-emptive measures to deal with organised crime”. But it appears that those powers have been applied without any evidence that the persons whose accounts are being frozen are engaged in any crime organised, illicit or of any sort. That is the complaint.
    I am suggesting, Mr Speaker-- I am bringing my contribution to an end-- I am urging the Attorney-General and Minister for Justice to look closely at the operations of EOCO now because the danger is that, when people suffer abuse, then they no longer are loyal to the State institutions that we expect them to support to achieve their mandate.
    Mr Speaker, I thank you for the opportunity.
    Ms Laadi A. Ayamba (NDC -- Pusiga) 11:15 a.m.
    Mr Speaker, I rise to associate myself with the Statement made by the Hon Member of Parliament for Keta.
    Mr Speaker, listening to the Statement that has been made, it is very disheartening to note that the age range of people who are targeted and practise drug use is between 15 and 64 years. It is rather unfortunate that the lowest age, which is of school going, is being targeted. This means, we have a lot to do because the backbone of our country and all other countries that might be involved, is being tangeted. The age group between 15 and at least, 21 years, is so vulnerable.
    This is an age group that always tries anything. They try whatever they are given to see what effect it has. Sometimes they try and try again. Those who are unlucky try and they fall along the way. Those who think they have made it will try and when they think they are succeeding, they bring in their peers. Most of these children in schools today, you listen to their teachers and head teachers and they complain of certain activities that take place in basic schools, not even in tertiary schools.
    If these things are happening and these are children or people who are still
    in school, what are we doing? The education needs to go down. We need to target institutions. We need to let our teachers take it up as part of the message that needs to be given to the pupils and the students in school. This should not be something that should be discontinued because it is a practice; more or less, it is like a gang. They have their people everywhere and they continue practising this drug menace.
    Mr Speaker, our security agencies have done their best. We have heard a lot of people who have been arrested. We have heard about quantities of cocaine and what have you that have been -- [Interruption]-- These drugs are missing. No matter what --
    Mr Speaker 11:25 a.m.
    Hon Member for Pusiga, we are making Statements, you are not supposed to provoke debate.
    Ms Ayamba 11:25 a.m.
    Thank you, Mr Speaker. It is well noted.
    Mr Speaker, in order to curb this issue, civil society itself should get involved in the education. Civil society should make sure that schools and communities are well educated on the problems that these drugs create.
    Mr Henry Quartey 11:25 a.m.
    On a point of order.
    Mr Speaker, I think my Hon Colleague is misleading the House.
    Ms Ayamba 11:25 a.m.
    Mr Speaker, I said “some people”. I did not say “everybody”. [Interruption.] Mr Speaker, with reference to the fact that I said “some people”, I wish to continue my statement.
    Mr Speaker 11:25 a.m.
    Hon Members, let us have order in the House.
    Ms Ayamba 11:25 a.m.
    Mr Speaker, I implore each and every Ghanaian to take it upon himself or herself to make sure that we continue to talk and educate our people, so that the practice of this drug menace, which is targeting the younger age bracket is curbed.
    Thank you, Mr Speaker, for the opportunity.
    Mr Speaker 11:25 a.m.
    Hon Members, that brings us to the end of Statements.
    Hon Members, at the Commencement of Public Business --
    Hon Majority Leader?
    Dr Benjamin B. Kunbuor 11:25 a.m.
    Mr Speaker, we could take item 4 -- Motion.
    Mr Speaker 11:25 a.m.
    Very well.
    MOTIONS 11:25 a.m.
    Chairman of the Committee (Mr James K. Avedzi) 11:25 a.m.
    Mr Speaker, I beg to move, that notwithstanding the provision of Standing Order 80 (1), which require that no Motion shall be debated until at least, forty-eight hours have elapsed between

    the date on which notice of the Motion is given and the date on which the Motion is moved, the Motion for the adoption of the Report of the Finance Committee on the request for approval of Government of Ghana's access to the International Capital Market to issue a second International Sovereign Bond (Eurobond) up to one billion United States dollars (US$1,000 million) may be moved today.
    Dr Anthony A. Osei 11:25 a.m.
    Mr Speaker, I beg to second the Motion.
    Question put and Motion agreed to.
    Resolved accordingly.
    Government of Ghana/International Capital Market International
    Sovereign Bond (Eurobond)
    Chairman of the Committee (Mr James K. Avedzi) 11:25 a.m.
    Mr Speaker, I beg to move, that this Honourable House adopts the Report of the Finance Committee on request for approval of Government of Ghana's access to the International Capital Market to issue a second International Sovereign Bond (Eurobond) up to one billion United States dollars (US$1,000 million).
    Mr Dominic B. A. Nitiwul 11:25 a.m.
    On a point of order.
    Mr Speaker, I am sure that the Report is so interesting that you are glued to it.
    I rise on a preliminary objection. I have been perusing certain documents and certain authorities including Hon E. K. D. Adjaho, Hon John Mahama, now President Mahama and others-- I thought that it was important for Mr Speaker to give a ruling on my objection before we can make progress.
    Mr Speaker, let me quote what Hon E. K. D. Adjaho said in the Hansard of Monday, 30th July, 2007, column 2948, paragraph 3. Mr Speaker --
    rose
    Mr Speaker 11:25 a.m.
    The Hon Member said he is raising preliminary objection --
    Alhaji Muntaka 11:25 a.m.
    Mr Speaker, with the greatest respect to my Hon Colleague, Hon Doe Adjaho is now the Speaker. Mr Speaker --
    Mr Nitiwul 11:25 a.m.
    I have not yielded to him, Mr Speaker.
    Alhaji Muntaka 11:25 a.m.
    No. Mr Speaker, I caught your eye. The Hon Member is going to create confusion and mislead this House.
    Mr Speaker, my Hon Colleague knows that we usually do not draw Mr Speaker into a debate. Any attempt to quote Mr Speaker would mean that Mr Speaker may have to make a comment and it would be deduced to mean that the Speaker is contributing into the debate. So, I would urge my Hon Colleague that - If he wants to use others, I will understand that but not Mr Speaker, because he is presiding.
    Mr Speaker 11:25 a.m.
    Hon Members, let us listen to his preliminary objection and I will --
    Mr Nitiwul 11:25 a.m.
    Thank you very much.
    Mr Speaker, as the Hon Majority Chief Whip said, I did not use the Rt. Hon Speaker, E. K. D. Adjaho. I never said that, and I will not say that too.
    But Mr Speaker, let me quote him:
    Mr Speaker, let me repeat for Hon Members to hear me. I beg to quote him 11:25 a.m.
    “Mr Speaker, I believe that there is a general government policy in terms of entering the International Capital Market that has been announced as government policy. There is no problem with that; that policy has been approved as part of …”
    Mr Speaker, he continues 11:25 a.m.
    “The duty of this House is very clear under article 181 and under the Loans Act. Is there any Agreement before us?”
    Today, I ask the same question: “Is there any Agreement before us?”
    Some Hon Members 11:25 a.m.
    No!
    Mr Nitiwul 11:25 a.m.
    Mr Speaker, I continue:
    “Who are the parties to the Agreement? What are the specific terms of the Agreement? There are no indicative terms because when this House approves certain terms and obligations, we are sure we must be able to explain to the people of Ghana the terms that we have approved. . .”
    Mr Speaker, let me continue 11:25 a.m.
    “Mr Speaker, my position therefore is that the Government should go and negotiate and bring the specific terms…”
    Mr Speaker, he continues 11:25 a.m.
    “Mr Speaker, my position therefore is that the Government should go and negotiate and bring the specific terms to us before we can approve the loan for them.”

    Mr Speaker, let me quote another authority on this matter, Hon John Mahama, now President Mahama. But I will use Hon John Mahama, for the benefit of the Hansard. Mr Speaker, I quote him from column 2951 of the Hansard:

    “Mr Speaker, a preliminary objection was raised to which you did not give any ruling. What we said was that it is superfluous if they are coming under the Loans Act. Maybe, they can come under some other authority to seek our permission. Under the Loans Act, there is no agreement. The Committee's Report says, ‘to consider the agreement'.

    “Mr Speaker, they are just saying we should adopt the Committee's Report under the Ministry's request. The powers of Parliament are very important and they must be used judiciously and prudently to do the right thing. Mr Speaker, the Minister has the right to enter any market he wants to, to look for loans. All that we are saying is that when he gets these loans, he should bring the terms and conditions here and let us approve them.”
    Mr Speaker, he goes ahead 11:25 a.m.
    “He is telling us, give us permission to -- When he goes to Japan or China to look for money, do we give him permission? We do not give him permission. When he finds the terms and conditions, he should bring them and we would approve them for him”.

    Mr Speaker, that is the story and that is the preliminary objection I am raising. I would want to seek your guidance before we can move forward.
    Mr Alban S. K. Bagbin 11:35 a.m.
    Thank you very much, Mr Speaker.

    To start with, he has not laid any foundation. He has not referred us to the Motion that was moved before these preliminary objections were made to let us know that it is the same type of Motion we are moving; he has not stated that.

    Secondly, he has not also added the ruling. What was the ruling of Mr Speaker on that day? [Hear! Hear!]. He has not.
    Mr Daniel Botwe 11:35 a.m.
    Mr Speaker, I have not made that statement. All that I was saying was that, he should respectfully allow Mr Speaker, even though he had made this statement before, to listen to his guidance and his ruling today. Even though he might have said something
    early on, we would want to listen to Mr Speaker's ruling today and we are eager to hear that.
    Mr Nitiwul 11:35 a.m.
    Mr Speaker, I asked for your guidance in the preliminary objection I raised, and I said that I support whatever the brilliant, learned gentlemen I quoted said in relation to this particular Motion. Maybe, because I did not quote it -- I would quote the Motion -- [Interruption.] That is what I said.
    Mr Speaker, the Motion was that, and I beg to quote 11:35 a.m.
    “Motion No. 5. That this Honourable House adopts the Report of the Finance Committee on the request for approval of Government of Ghana's access to the International Capital Market to issue a second international sovereign bond (Eurobond) up to US$1 billion.”
    Mr Speaker, I asked for your guidance. That is all that I asked. I did not ask for any debate.
    Mr Bagbin 11:35 a.m.
    Mr Speaker, the Hon Deputy Minority Leader is reading the Motion that we have before us today, not the Motion in the Hansard; that is what he was reading. We all saw him reading it.
    Dr A. A. Osei 11:35 a.m.
    Mr Speaker, point of information.
    Mr Speaker 11:35 a.m.
    Hon Bagbin, are you going to yield to him?
    Mr Bagbin 11:35 a.m.
    No, no! Mr Speaker, my very good Friends on the other side are aware that when we raised the preliminary objection and proffered those very brilliant arguments, they did not see the light of day; that, he is aware. He knows that from that history, we have learnt. He himself, he has read the history, which is
    in the Hansard and so, he knows. He has held copious discussions with his seniors who were here and so, he knows that the authority, unless reviewed, is what he read in the Hansard. So, Mr Speaker, as I said, you should dismiss it in limine.
    Dr Benjamin B. Kunbuor 11:35 a.m.
    Mr Speaker, there is a lot of wisdom when lawyers say that to have the proper import of a document, you read the document as a whole.
    rose
    Mr Speaker 11:35 a.m.
    Hon Deputy Minority Leader, let us listen to him. I will give you the chance.
    Dr Kunbuor 11:35 a.m.
    Mr Speaker, I was think- ing that, as a matter of practice, normally, we do not rise on a point of order against each other as Leaders. But once he rose, I wanted to defer to him on this matter.
    But more importantly, this was the ruling of the First Deputy Speaker on the matter and that was how that matter was buried and we proceeded. It reads:
    “It is a way forward, and just as the Hon Second Deputy Speaker specified, we as Parliament should be in a position in our oversight role to encourage the Executive to bring all information, all documents and all activities for us to scrutinise. At this particular moment, I believe if
    rose
    Mr Speaker 11:35 a.m.
    I gave the Hon Member for Bekwai the chance but let me hear you. You are the Hon Deputy Minority Leader. You want him to speak before you come in?
    Mr Nitiwul 11:35 a.m.
    Yes, Mr Speaker.
    Mr Speaker 11:35 a.m.
    Very well.
    Hon Member for Bekwai.
    Mr Osei-Owusu 11:35 a.m.
    I thank you very much, Mr Speaker.
    When the wise man speaks, and my very able Hon Majority Leader -- I was
    Mr Speaker 11:45 a.m.
    How many of you were his campaign managers? Hon Joe Ghartey claims he was the campaign manager.
    Mr Osei-Owusu 11:45 a.m.
    Hon Joe Ghartey was in Sarbah Hall, I was in the Commonwealth Hall with him.
    Mr Speaker, there are certain principles which I would wish this House should emphasise. Is it our practice that one Parliament's decision is binding on another Parliament? I would have thought that in a parliamentary system, each Parliament is unique and therefore, a ruling of a Speaker presiding on another Parliament may not necessarily be a precedent for which is binding on the succeeding Speaker.
    rose
    Mr Speaker 11:45 a.m.
    Hon Majority Leader, let us hear him and then you come in.
    Dr Kunbuor 11:45 a.m.
    Mr Speaker, I am rising on a point of order because it is a matter of record.
    The import of what I said was not that the ruling was binding on this House. What I indicated was that we must have sufficient grounds to depart from a path that has been previously beaten. I am not saying it is binding on this Parliament.
    Mr Osei-Owusu 11:45 a.m.
    Thank you for probably, sharing my opinion. But I was actually referring to the wise man -- sorry -- Hon Alban Bagbin, who appears to have suggested that the ruling made by your predecessor in the Fourth Parliament, I suppose, was binding on Mr Speaker.
    Mr Speaker 11:45 a.m.
    Hon Members, I would take two Hon Members on this matter and then I would give my directive.
    rose
    Mr Speaker 11:45 a.m.
    Hon Member, do you want to contribute or you want to respond, because they mentioned your name?
    Mr Bagbin 11:45 a.m.
    I would want to respond to an allegation he made against me.
    One, I did not appear to have suggested what he said; it never happened. Two, we have a way of addressing one another on the floor of this House. I am not and I repeat, a “wise man” on this floor. I am
    the first Hon Member of Parliament for Nadowli/Kaleo Constituency. That is what is prescribed by the Standing Orders.
    Thank you very much.
    Mr Nitiwul 11:45 a.m.
    Mr Speaker, I moved this preliminary objection but there was another authority I did not quote. But for the sake of argument, I would quote Dr Kunbuor on this particular matter, which will help all of us get to the picture, so that the Speaker can make a ruling.
    It is written here “Dr Kunbuor”, that is why -- I know he is Hon Dr Kunbuor -- Column 2955. Like he said today, he said and I beg to quote:
    “As the Hon Minister was saying, it is indeed a virgin territory for Ghana. That is the more reason why the terms and standards ought to be set by a parliamentary resolution.”

    Mr Speaker, with all these, I would want us to have a ruling. I know the Hon Deputy Speaker did have a ruling in 2007. But I would want us to have a ruling, to enable us make progress as a nation, so that we know exactly what we want and what should be done in this House, whether the terms should be brought, whether or not they should be withdrawn as the Hon Majority Leader suggested.

    Mr Speaker, I quote three key very learned authorities on this matter and I want a ruling. That is all I just said.
    rose
    Mr Speaker 11:45 a.m.
    Hon Members, I think that we have had sufficient contribution on this matter. I would want to proceed.
    Mr Sampson Ahi 11:45 a.m.
    Thank you very much, Mr Speaker.
    Maybe, before you would give your ruling, Mr Speaker, with your permission, let me quote from column 2954 what the then Chief of Staff, Mr Kwadwo Mpiani said.
    “Mr Speaker, both sides of the House agreed that this is an innovation; it is the first time the country has decided to go to the international market to borrow. At this stage, you do not know which banks or institutions would subscribe to the loan we want. We are not the first country to do this. It is a process and Mr Speaker, all what these international institutions ask is that a country which is coming to borrow from the international market should have a resolution of its Parliament, that they have the power to come and borrow.”
    Mr Speaker, I think that we are echoing what the then Chief of Staff, Mr Kwadwo Mpiani said.
    So, I should be happy if you would be guided by what I have read.
    Dr Kunbuor 11:45 a.m.
    Mr Speaker, I am just craving your indulgence because my name was mentioned and taken also out of context.
    The specific issue there is that, this is no more a virgin activity because we have successfully gone to the private capital market and the bonds yielded sufficient dividend. So, we are now clearer in our mind that we are no more in a virgin territory and that we should proceed along the lines we have proceeded.
    But more significantly, I would always want to be the first to register that on economic matters, particularly in the financial market, it is so volatile that you cannot keep one position all the time
    Thank you very much.
    Mr Speaker 11:45 a.m.
    Hon Members, when my attention was drawn to the issue of the Eurobond coming to the House for the second time, I took the opportunity to educate myself. I went back and read all that you have quoted on the floor of the House this morning, including my own quotation. What goes round comes round. I would want to say for the records that I still hold those views that I held and expressed on the floor at that time.
    The only reason I think that we should proceed and use the method that we used the previous time is because of the various judgments coming from the Supreme Court with regard to international business and economic transactions. Therefore, it is better for this House to be seen to be giving approval. If it turns out that it is not necessary, at least, the issue of unconstitutionality of the act will never crop up anywhere again in any court.
    I still hold the view that irrespective of what we do, Government must come back and inform this House the outcome of going into the capital market.
    In fact, that was the essence of my submission on the floor of the House, that irrespective of whatever happens, Government should come to give us the terms under which they raised these facilities in the capital market.
    It is on that basis that this Motion must proceed.
    Papa Owusu-Ankomah 11:55 a.m.
    Mr Speaker, thank you very much for your ruling.
    Another matter was raised during this brief debate on the preliminary matter, as to the effects of a ruling of Mr Speaker on another Speaker, on another Parliament. Probably, you overlooked that part of the argument. But I am hoping that in respect of that, you may give a considered and well-reasoned ruling at a later date, for the guidance of this institution.
    Mr Speaker 11:55 a.m.
    Thank you very much, Hon Member for Sekondi.
    I thought that an Hon Member responded to that issue. That is why I did not address it in my ruling.
    Hon Members, let the Hon Chairman of the Finance Committee proceed.
    Mr James K. Avedzi 11:55 a.m.
    Mr Speaker, I present your Committee's Report.
    Introduction
    The request for approval of Govern- ment of Ghana's access to the International Capital Market to issue a second Eurobond up to one billion United States dollars (US$1.0 billion) was presented to Parliament on Friday, 14th June, 2013.
    The request was accordingly referred to the Finance Committee for conside- ration and report pursuant to Order 171 of the Standing Orders of the Parliament of Ghana.
    To consider the request, the Committee met with the Hon Minister for Finance, Mr Seth Terkpeh, Deputy Ministers for Finance, Hon Cassiel Ato Forson, George
    Kweku Ricketts-Hagan and officials of the Ministry of Finance and deliberated the request.
    The Committee is grateful to the Hon Ministers and officials from the Ministry of Finance for attending upon it.
    Reference
    The Committee referred to the following additional documents during its deliberations:
    i. The 1992 Constitution of the Republic of Ghana.
    ii. The Standing Orders of the Parliament of Ghana.
    iii. Loans Act, 1970 (Act 335)
    Background
    The 2013 Budget Statement and Economic Policy of the Government of Ghana outlined a number of initiatives and activities aimed at fiscal consolidation to maintain growth. These initiatives require financial resources to accelerate infras- tructural development and to promote economic growth. However, the 2013 Budget has a funding gap of about eight billion cedis (GH¢8.0 billion), which is expected to be financed through borrowing and grants.
    As a practice, Ghana has over the years relied on substantial short-term instruments in the domestic market as well as concessional debt from multilateral
    Mr James K. Avedzi 11:55 a.m.


    The Committee was informed that the bond issue will cost the country about US$2,103,805.The detailed breakdown of the component was given as follows:

    Fees Amount (US$)

    Lead managers 625,000

    Co-managers 158,000

    International legal counsel 417,647

    Local counsel 63,158

    Rating agencies 300,000

    Total fees 1,563,805

    Expenses

    Joint Lead expenses* 500,000

    International counsel expenses** 40,000

    Total expenses 540,000

    Grand total 2,103,805

    As per cent of issue ($1 billion) 0.21per cent

    *Capped expenses **Estimated

    Conclusion

    The Committee has carefully examined the request and realised that the Bond issue will help raise the needed funds to accelerate infrastructural projects and partially redeem Ghana 2017 Bond as well as re-finance the maturing domestic debts. The Committee, therefore, respectfully

    recommends to the House to adopt its Report and approve the request for approval of Government of Ghana's access to the International Capital Market to issue a second Eurobond up to one billion United States dollars(US$1.0 billion) in accordance with article 181 of the 1992 Constitution, section 7 of the Loans Act, 1970 (Act 335) and Order 171 of the Standing Orders of the House.