Debates of 22 Jun 2022

MR SPEAKER
PRAYERS 10:32 a.m.
Mr Speaker 10:32 a.m.
Hon Members, I would
suspend Sitting till 11 o'clock.
Sitting is accordingly suspended to 11.00
a.m. prompt. I will be back to preside Sitting.
10.38 a.m. — Sitting suspended.
11.48 a.m. — Sitting resumed
Mr Speaker 10:32 a.m.
Hon Members, I welcome all
of you back from the suspension of Sitting of
the House. We would continue the business we
started this early morning. As we all know, the
Hon Minister for Finance has been pro-
grammed to answer Questions. This morning,
the Order Paper captured the Questions but the
Answers were not captured, so we had to, with
other intervening matters, suspend Sitting to go
and ensure that the Answers were captured.
The Hon Minister came to the House, the
Answers were submitted and the Order Paper
Addendum which contains the Answers is
being printed.
However, in the discussion with Leader-
ship, we agreed that since the Hon Minister
was coming to answer Questions and to also
make a Statement, we could start with the
Statement since it is ready while awaiting the
Table Office and the Hansard Department to
print the Answers to the Questions. That is why
Sitting has resumed. The Hon Minister has
taken his seat. Therefore, with your kind
permission, I would call on him to make the
Statement. You know that he is coming under
Standing Order 70 to make the Statement but
do not forget that this is a request from the
House. However, you would be given the
opportunity to comment on the Statement and
I emphasise “comment on the Statement.” I would be guided by Leaders as to how many
from each Side of the House would be given
the permission to make the comments. I am
sure by then, the Answers would have been
ready for us to take items numbered 5 and 6.
Hon Minister for Finance, you are
welcome.
We would start with the Statement which is

Hon Members, I have been given a copy of

the Order Paper Addendum which contains the

Answers but as I said, we would start with the

Statement which is item numbered 7. So, I

would invite the Hon Minister to deliver the

Statement. —

Mr Afenyo-Markin — rose —
Mr Speaker 10:32 a.m.
Yes, Hon Deputy Majority
Leader?
Mr Afenyo-Markin 10:32 a.m.
Mr Speaker, I have a
small application which would require your
guidance. We are always guided by your
higher wisdom and knowledge of affairs.
Mr Speaker, Standing Order 70 (2) under
which you are inviting the Hon Minister — I would want to, for the avoidance of doubt and
with your permission, beg to quote. It reads:
“A Minister of State may make an announ- cement or a statement of government policy.
Any such announcement or statement
should be limited to facts which it is
deemed necessary to make known to the
House and should not be designed to
provoke debate at this stage. Any Member
may comment briefly, subject to the same
limitation.”
Mr Speaker, I just read it and felt that with
your leave — [Interruption] — that is correct, but Mr Speaker always has a way of guiding us
in explaining the rules so that we do not get
carried away.
Mr Speaker, I thank you.
Mr Ahmed Ibrahim — rose —
Mr Speaker 10:32 a.m.
Well, he just amplified what
I said early on. You made comment on the
Statement. However, let me listen to the Hon
First Deputy Minority Whip?
Mr Ahmed Ibrahim 10:32 a.m.
Mr Speaker, if I
heard the Hon Deputy Majority Leader clearly,
he said that the Hon Minister is coming under
Standing Order 70 (2) and that the Statement
should not provoke debate. That is what
Standing Order 70 (2) says but if after the
Statement, the Ghanaian people still need
certain facts to be made, how would we be able
to equip them to know clearly what happened
or how can we account for them? We must take
that one on board as we progress.
Mr Speaker 10:32 a.m.
Well, I am here to apply the
rules and the rules I would apply definitely,
with a human face and also be sensitive to the
situation in the country. So please, have
confidence in me that I could do my job well.
Hon Minister, you may make your
STATEMENTS 10:32 a.m.
  • [Some Hon Members: Sit down! Sit down!]
    • Mr Speaker 11:58 a.m.
    Gavel.
    Hon Members, do not tempt me to name
    you. Hon Minister, I would grant you the
    permission to do away with the mask. I know
    that COVID-19 is still with us but there seems
    to be some obstruction because of the type of
    mask you are using. If you could, please take
    off the mask. If not, then we would need you to
    be more audible. I was struggling to hear what
    you were saying. [Pause]. I am told there will
    be an attempt to increase the volume of the
    microphone for you.
    Yes, Hon Minister, you can go on now.
    Mr Ofori-Attah 12:18 p.m.
    Mr Speaker, as we all
    know, I had long COVID-19 complications
    and by the grace of God, I am doing very well
    now. Thus, with your kind permission, I would
    like to maintain the nose mask and ensure that
    my voice is audible. Thank you very much.
    Mr Speaker, the ‘midwife' Ministry, as we call ourselves, would always be in readiness to
    work with any parliamentary Committee. The
    COVID-19 expenditure have been broadly
    provided for, in pages 273 and 274 in the 2021
    Budget Statement and Economic Policy as well
    as on page 335 of the 2022 Budget Statement.
    Beyond that, with respect to the granular
    issues at the various MMDAs, the arms of
    Government, including Parliament as well as
    Constitutional bodies and State Enterprises, I
    pray that the Committees would do a good job.
    The Ministry does not follow these bodies on
    the various paths of expenditure apart from the
    report they submit to the Ministry.
    Notwithstanding this and to set minds at
    ease, I am here, for the avoidance of doubt, to
    respond to the allocations made to the various
    bodies and institutions.

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    Mr Speaker, thank you for the opportunity

    and God bless our homeland Ghana.
    Mr Speaker 12:28 p.m.
    Hon Members, you have
    heard the Hon Minister for Finance. I would
    want to, once again, remind you of Standing
    Order 70. We will permit comments to be made
    by Hon Members. I have with me the guide
    from the Leaders, and it is intended for me to
    recognise three Hon Members from each of the
    Divides, in addition to one Leader from each
    Side of the House. The Minority side has
    submitted four names so I am waiting for the
    Majority side to submit theirs.

    So, while I wait for the Majority side to

    submit theirs, I would start by giving the

    Minority side the first shot in terms of

    comments to the Statement made by the Hon

    Minister for Finance.

    The first person I will give the opportunity

    Hon Member, you may go on with your

    comments please.
    Dr Cassiel Ato Baah Forson (NDC - Ajumako/Enyan/Essiam) 12:28 p.m.
    Thank you, Mr
    Speaker for the opportunity to make some
    comments on the Statement delivered by the
    Hon Minister for Finance.
    Mr Speaker, I have three major concerns on
    the very Statement that was delivered by our
    Hon Minister.
    The first relates to the fact that I have seen
    the Hon Minister accounting for the sources of
    fund for the amount they received to tackle the
    COVID-19 pandemic. A particular source that
    is conspicuously missing from his list of
    sources is the “COVID-19 Trust Fund” that

    Statements

    was established by the President of the

    Republic of Ghana.

    Mr Speaker, this is critical because any

    amount of money that accrued to the Fund is

    public fund and it should be accounted for as

    such. If I decided to donate money to fight a

    pandemic, that money is not private money. It

    is money received by, State actor, that must be

    Therefore, in showing us the sources of

    funding, that particular line is conspicuously

    missing and I urge the Hon Minister to come

    again on that because we need some

    accountability on that matter. This is my first

    point.

    Mr Speaker, it does not matter. It is public

    money and when you receive public money,

    you account for it. That is what the Hon

    Mr Speaker, my second point has to do — [Interruption] — with the fact that our Minister for Finance has said that he received money

    from six different areas. The first is

    Government of Ghana Contingency Fund of

    GH₵1.2 billion. He went on to say World Bank Group Funds gave Health Interventions of

    GH₵1.3 billion and showed all of the amount to prove that he had gotten GH₵1.3 billion. International Monetary Fund (IMF) GH₵1 billion; African Development Bank (AfDB),

    GH₵405.6 million; and Bank of Ghana COVID-19 Bond of GH₵10 billion.

    Mr Speaker, if you add all these moneys,

    the Hon Minister says GH₵19.3 billion. Granted that he received GH₵19.3 billion, what I can see here is that he has said that so

    far, from January 2020 to December, 2021, he

    has spent GH₵12 billion of that money. What he has failed to do is to tell us that between the

    GH₵19.3 billion and the GH₵12 billion, the difference is GH₵7.3 billion where that is money is and what have they used the money

    for?

    Mr Speaker, the Hon Minister mobilised

    GH₵19.3 billion from his own document and I am making reference to page 4, Table 1 - I received it at the same time as you did.

    According to page 4, Table 1, you

    mobilised GH₵19.3 billion from your sources of funding. That is what is there.

    Mr Speaker, if you go further, according to

    the same document, page 6, item A - Expenditure on COVID-19, gives us Status of

    Utilisation of 2020 and 2021 COVID-19

    expenditure. The last item gives the amount of

    money they budgeted and released. And so far,

    it says they have released GH₵12 billion.

    So, my argument is that if you have

    mobilised GH₵19 billion and spent GH₵12 billion, the Hon Minister should, at least, give

    us an indication. You received GH₵1 billion from the IMF and you have told us that you

    raised a bond of GH₵10 billion as well as some sources of money from the World Bank. You

    have given us the numbers but you have spent

    GH₵12 billion out of it. Give us an idea where the rest of the money is. [Hear! Hear!] The

    bond that you received, the IMF money you

    received, where is the rest of that money?

    Mr Speaker, I think this is a legitimate

    question and that is my second point. So, the

    difference I am seeing here is GH₵7.3 billion unaccounted for and I would like to find out

    Statements

    where that money is This is a legitimate

    question.

    Mr Speaker, my third point also relates to

    the fact that our Hon Minister for Finance has

    given an indication that he has spent GH₵12 billion so far in 2020 and 2021. My concern

    has to do with the fact that he has given us

    some headline items. He said to us, and it is

    also in the Government of Ghana's Mid-year Review of 2021; and if you refer to page 101,

    Appendix 4(e) of the Mid-year Review, the

    same thing has been stated here. Mr Speaker,

    the Hon Minister had said that and I would like

    to commend him for his consistency in

    reporting. Page 101 of the Mid-year Review, it

    is also in the same statement, Appendix 1 of the

    document the Hon Minister has given to us.

    Mr Speaker, the Hon Minister said they had

    spent GH₵598 million from January to June 2021, equivalent to US$1 billion for the

    purposes of payment for nose-masks, hand

    Mr Speaker, my concern is that the Hon

    Minister spent GH₵598 million on nose masks and hand sanitisers for the reopening of schools

    but at what cost? We need the fine details - expenditure returns of that. He went on to say

    that he paid GH₵36 million for the design of Agenda 111. For who? [Uproar] — GH₵36 million for what purpose? The design of

    Agenda 111?

    Mr Speaker, on page 100 of the same

    document, the mid-year review, the Hon Minister went on to say it again; it is stated here. This is why I commended the Hon Minister for the consistency. He stated that the expenditure under Agenda 111, January to December, 2020, Provision of Health

    Mr Speaker, my question is that the Hon Minister spent GH₵600 million for Agenda 111 which is a noble idea, but have they used the money? And at what time? I know the President inaugurated the Agenda 111 in 2021, but this money was spent in 2020.

    Mr Speaker, I think it is fair for me to ask this question. On that basis, I call on you to invoke article 103 of the Constitution that says that:

    “Parliament shall appoint standing com- mittees and other committees as may be necessary for the effective discharge of its functions.”

    Mr Speaker, that is why I call on you, to set up an Ad-hoc Committee so we can bring the various Head of MDAs that spent the money to account for this in detail -
    Mr Speaker 12:28 p.m.
    I do not want to call your name, Dr Ato Forson, you may summarise your contribution. - [Interruption] - If I hear you shout across the aisle, I would be compelled to name you. Please -
    Hon Member, you may conclude.

    Statements

    12. 38 p.m.
    Dr Forson 12:28 p.m.
    Mr Speaker, I am concluding by calling on you to use the powers under article 103 of the 1992 Constitution to set up an Ad-hoc Committee to particularly get the various covered entities that spent the money to account for it in details.
    Mr Speaker, yes, I have seen a bold attempt by giving us some headline items. I acknowledge that, but there are gaps. I cannot ask the Hon Minister for Finance to give me the details of the fact that US$100 million was spent on nose masks and hand sanitizers. I would have to ask the Hon Minister who purchased that, which is why I ask you, Mr Speaker, that this Committee must be established by this House, and chaired by an Hon Member on the Minority Side, so that we could get the details, and all of us would get the facts as we need to.
    Mr Speaker 12:28 p.m.
    Hon Members, because the Hon Member is the Ranking Member of the Finance Committee, I gave him ample time. I would apply same, and give the Hon Vice Chairman, who would speak for and on behalf of the Chairman, the same time to also make comments. Vice Chairman of the Finance Committee, please you may make your comments now.
    Mr Patrick Yaw Boamah (NPP — Okwaikwei Central) 12:28 p.m.
    Thank you very much, Mr Speaker. I am very disappointed in the Hon Member for Ajumako/Enyam/Essiam, Dr Cassiel Ato Baah Forson. I expected much from him. I expected in-depth analysis of what he has been spewing on the airwaves and
    blindfolding the minds of the good people of this country that there has been something untoward with regard to the COVID-19 expenditure. He did not even read the Report.
    Mr Speaker, I would like to refer you to
    paragraph —
    Mr Speaker 12:28 p.m.
    Hon Vice Chairman, you are
    to make comments on the Statement made by
    the Hon Minister. You are not to debate, but
    make comments. In fact, the Hon Deputy
    Majority Leader emphasised this, so go on with
    your comments.
    Mr Boamah 12:28 p.m.
    Thank you very much, Mr
    Speaker, for your guidance.
    Mr Speaker, I would like to refer you to
    paragraph 15 of the Statement made by the
    Hon Minister for Finance:
    “It must be noted that the status of utilisation of the funds to finance the COVID-
    19 measures excludes funds of the National
    COVID-19 Trust Fund and the Ghana Private
    Sector COVID-19 Fund.”
    Mr Speaker, it must be put on record that
    the Hon Member did not read the Statement
    and did not advert his mind to this. Our Hon
    Colleagues have been on the rampage trying to
    foul the atmosphere in this country with regard
    to the expenditure that the Hon Minister has
    ably presented to the House.
    Mr Speaker, a summary of the expenditure
    is captured on pages 14 and 15 of the
    Statement. In March 2020, when the COVID-
    19 outbreak occurred, we all were very scared
    and did not have any clue about this pandemic.
    It took a responsible Government to devise a

    Statements

    very deliberate plan to protect us. [Hear!

    Hear!] All the 275 Hon Members in this

    Chamber are alive. We all benefitted one way

    or the other from the release that has been

    presented to this House, to the extent that our

    spouses were even privileged to come to the

    Parliament House Clinic to get their jabs.

    Where were we going to get the moneys from?

    How many of us did not benefit from the free

    water supply as captured in this Report? How

    many of us did not benefit from the free

    electricity? The lifeline consumers, our

    constituents? The Hon Minister for Energy is

    here. How many Hon Members did not

    benefit?

    Mr Speaker, we are here for accountability.

    That is why the Hon Minister, on pages 14 and

    15, has given us an elaborate expenditure plan

    which cannot be criticised by the Hon Member.

    He has not been able to punch any meaningful

    hole in the expenditure as provided by the Hon

    Minister. We expected much from the Minority

    Side. They have disappointed the people of this

    country. They told them a lot, that the

    Government has concealed a lot of expenditure

    under this COVID-19 release. The Hon

    Ranking Member of the

    Finance Committee, Dr Forson, rather

    commended the Hon Minister for Finance that

    he doffs his hat for him for being honest and

    Mr Speaker, as regards the Agenda 111, the

    Hon Minister said, rightly so, that GH₵600 million has been set aside for this elaborate

    programme. The COVID-19 pandemic

    exposed the health system of Ghana to the

    extent that most districts in this country did not

    have health facilities. What did a thinking

    Government do? A thinking Government

    decided that it would take advantage of this

    pandemic and spread health infrastructure

    across the country. [Hear! Hear!] They

    considered how to start and realised they had

    to make provision for it in the Budget.

    Fortunately for us, our Hon Colleagues and

    we ourselves approved the Budget and

    included that money. GH₵700 million was also added, making it GH₵1.3 billion. Projects are ongoing across the districts. We, as a

    country, must look for additional funds to

    ensure that our brothers and sisters in

    Bunkpurugu, Okwaikwei Central, and across

    the country have access to quality health care,

    and not only the Hon Member for Ada having

    a beautiful hospital in Ada. We all need “Ada hospital” in Mpohor.

    Mr Speaker, it is heart-warming that this

    matter is being settled today, once and for all,

    and that a call for an ad-hoc Committee is an

    afterthought. To the extent that the Hon

    Minister has spent time to give us a detailed

    expenditure, it is really uncalled for to waste

    the time of Ghanaians. At the end of the day,

    the Auditor-General would come back to this

    country with his Report, and that Committee is

    chaired by the Hon Deputy Minority Leader

    who is very knowledgeable in that space. They

    should use their intellect to criticise the

    Auditor-General's Report and the Report from the Metropolitan, Municipal and District

    Assemblies (MMDAs), and they would come

    and answer.

    I thank you very much, Mr Speaker. [Hear!
    Mr Speaker 12:28 p.m.
    I think the Hon Vice
    Chairman has done well by making the
    comments within few minutes. I would now
    move on to my left Side, and from the list

    Statements

    submitted, it is the turn of the Hon Member for

    Juaboso, Mr Kwabena Mintah Akandoh.
    Mr Kwabena Mintah Akandoh (NDC — Juaboso) 12:48 p.m.
    Thank you very much, Mr Speaker
    for the opportunity to comment on the
    Statement delivered by the Hon Minister for
    Finance.
    Mr Speaker, this Statement is the very
    reason a bi-partisan Committee must be
    constituted to probe the entire expenditure on
    COVID-19. I would like to point out few
    inaccuracies in the Statement presented by the
    Hon Minister for Finance that must not be
    entertained on this Floor.
    Mr Speaker, with your permission, may I
    refer you to page 7, paragraph 19: “At this juncture, I would like to dispel the notion that
    there have been inconsistencies in Government
    data on COVID-19.”

    His Excellency the President intimated

    during the Message on the State of the Nation,

    on 30th March, 2022, that: “we had mobilised about GH₵17.7 billion since 2020.” That is not what the President said.

    Mr Speaker, may I refer you to the first line

    of the text on page 5 of the Message on the

    State of the Nation, and I quote: “In all, data from the Ministry of Finance tells us that an

    amount of GH₵17.7 billion, which is 4.6 per cent of GDP, has been spent…”, not mobilised. There is a clear difference between what has

    been mobilised and what has been spent.

    [Uproar.] Why does he do this to Parliament?

    Between him and the President, who is telling

    Again, Mr Speaker, if you check the

    Statement that has been given to us, especially,

    Appendix 1 — “Status of Utilisation of 2022 COVID-19 Budget,” it tells us that an amount of GHȻ600,000,000.00 was released with respect to Agenda 111. As at 2020 — As a matter of fact, Agenda 111 was launched and

    the sod-cutting was done on the 17th of August,

    2021. Meanwhile, that money was released as

    far back as 2020, which is clearly captured in

    the Statement. What was the money used for?

    All these are issues we demand answers to.

    Mr Speaker, knowing very well the rules on

    contributing or commenting on Statements, we

    cannot use it to resolve these issues. Again, I

    would like to refer you to paragraph 28 of the

    Statement, which states that they spent GH₵ 4.3 on hot meals per person, and that they spent

    that on about 2,000,744 people. If you do the

    computation, you would arrive at around

    GHȻ11.9 million. There is a huge difference of about GH₵243,000.00. The Hon Minister is telling us that the money was used for

    transportation within the Metropolis.

    Mr Speaker, I think that we need to know

    the details of these expenditures. That would

    give us the opportunity to subpoena other

    documents to probe further. This is actually not

    enough. The Hon Minister, coming to the

    House by a Statement, would not help us, and

    therefore, I support the call that this House

    constitutes a bi-partisan Committee to look

    into this matter.

    Mr Speaker, I thank you for the
    Mr Speaker 12:58 p.m.
    Hon Members, it is now the
    turn of the Hon Deputy Minister for Finance,
    Mrs Abena Osei-Asare.

    Statements

    Deputy Minister for Finance (Mrs Abena

    Osei-Asare) (MP): Mr Speaker, thank you

    very much for the opportunity to comment on

    the Statement that has been made on the Floor.

    Mr Speaker, both Members who con-

    tributed on the other Side have missed one

    thing, and that if they had read - [Uproar] -

    Mr Speaker, if they had read paragraph 6 of

    the Hon Minister's Statement, they would have realised that the Hon Minister said, “The total inflow for 2020 was GH₵19.3 billion, and out of that, they used that to directly fund COVID-

    19 expenditures and others were, indirectly.

    Mr Speaker, firstly, on the expenditure side,

    we allocated GH₵11.16 billion directly. The difference of GH₵8.1 billion was what we used to shore up the Budget. You would

    remember we came to this House and revised

    the revenue numbers by close to GH₵11.1 billion as a result of the effects of COVID-19.

    If we revised the revenue numbers down by

    GHȻ11.1 billion and shored it up with the difference of GHȻ8.1 billion, clearly, we have accounted for the GHȻ19.3 billion.

    I would also like to go to paragraph 19 of

    page 7, where it is quoted that the President

    said they had spent GH₵8.1 billion on COVID-19 Fund. When we come to page 6,

    clearly, it is correct. We see it here that what

    we utilised is actually GH₵8.1 billion. Therefore, clearly, the Hon Minister has put to

    rest the inconsistencies being communicated

    by our Hon Brothers and Sisters on the

    Minority Side. Today, it has become very clear

    that we have been consistent. Indeed, it was

    GH₵19.3 billion that came in, and we have been able to account for it: GH₵8.1 billion was used directly for COVID-19 expenditure and

    the difference was used to shore up the revenue

    numbers that dropped.

    Again, in 2021, we put in the Budget an

    expenditure of GH₵4.6 billion for direct COVID-19 expenditures, and clearly, we have

    been able to account for the GH₵3.9 billion that we utilised. Therefore, Mr Speaker, I do

    not see why our Hon Colleagues on the other

    Side are asking for a special audit on this.

    Clearly, the Auditor-General, at the end of the

    day, would also look into this. This is what we

    have, and this is what I believe the Auditor-

    General would also look at.

    Mr Speaker, one thing that I would also like

    to point out, which was out there, was the

    specific inflows from the World Bank. Our

    Hon Colleagues on the other Side also

    mentioned in various forums that it was not

    fully accounted for. Clearly, the US$435

    million that came from the World Bank has

    been accounted for in paragraph 11. It says in

    paragraph 11(i) that there was a fast-track

    amount of US$35 million. In paragraph 11(ii),

    it says there was another US$65 million which

    we have accounted for. In paragraph 11(iii),

    there is another US$130 million that also came

    from the World Bank.

    In paragraph 12, it says that US$200 million

    also came from the World Bank. We have

    accounted for all these, and I am very happy

    today that we are putting the matter to rest. We

    have accounted for all the moneys that came in

    2020 (the GHȻ19.3 billion); we have accounted for it through the Table that has been

    provided, where we have GHȻ8.1 billion being

    Statements

    utilised and the difference is what we used to

    shore up the revenue numbers.

    Mr Speaker, COVID-19 was a real thing — we had never seen that before. However, this

    thinking Government thought it wise that the

    most important thing to do was to save lives

    and save the economy. So, this Government

    did two things in the pandemic: to save lives

    and protect livelihoods, which we did in 2021

    and have accounted for; the second was to see

    how we could revitalise the economy outside

    the negative effects of the COVID-19

    pandemic. That is why we also put in GHȻ4.6 billion and we have accounted for the GHȻ3.9 billion we used.

    Mr Speaker, with this, I believe that we

    have brought the matter to rest. [Uproar.] Let

    us admit that they thought we could not

    account for it, but we have accounted for it. Let

    us put it to rest and then move on. The Auditor-

    General, at the end of the day, would also go

    through the books and account for every

    money that we have spent on COVID-19, both

    directly and indirectly.

    Mr Speaker, we thank you for this

    opportunity to tell the whole of Ghana that,

    clearly, these moneys came in and this is how

    we have utilised them. I believe that from

    today, let us admit that we erred in telling

    Ghanaians that we have squandered the

    moneys. It is all clear here that we have the

    moneys; we have utilised it to the benefit of

    Ghanaians, and that is why, by God's grace, we did not see what we saw in other countries. If

    we had sat down and done nothing, perhaps,

    the effects would have been bad, but thanks be

    to God that He gave us a president in the person

    of His Excellency Nana Addo Dankwa Akufo-

    Addo — [Uproar]— and that is why we have

    seen the results we are seeing here. Let us

    admit it when it is right, and if it is wrong, we

    understand. But clearly, the way Ghana

    handled COVID-19, including the expen-

    ditures, is something that everybody can attest

    to.

    Mr Speaker, thank you for the opportunity.
    Mr Isaac Adongo (NDC — Bolgatanga Central) 12:58 p.m.
    Mr Speaker, I beg to comment on the
    Statement that the Hon Minister just read to us
    on COVID-19. The issue about COVID-19
    expenditure and its accountability is a major
    issue that hinges on the credibility of our
    country. We have spent a lot of moneys that do
    not belong to us, but through the magnanimity
    of a taxpayer sitting somewhere else in billions
    of dollars. As I look through the document that
    I have been served in this House by the same
    Government and the same Hon Minister in the
    past, I am struggling to understand whether this
    document is picking the data from somewhere
    else or the Government's own data, which is copiously reported in its own Government's Financial Policy for 2021.
    Mr Speaker, the issue my Hon Colleague
    raised about the Statement of His Excellency
    the President to the effect that we spent
    GH₵17.7 billion, it cannot be the case that today, the Hon Minister is reporting that they
    spent GH₵12 billion. How many months has it been after the President spoke? As a matter of
    fact, we expect a better record to be showing
    that it is more than GH₵17.7 billion, so right away, we become very confused that the
    numbers are now reversing backwards. From
    GH₵17.7 billion to GH₵12.2 billion or

    Statements

    GH₵12.0 billion. If we mistakenly call him tomorrow, it would be GH₵9 billion. — [Laughter] —That is the problem.

    One of my biggest difficulties is that this is

    a House of records. The Hon Minister appeared

    before this House and presented the 2021

    Financial Budget Statement and Economic

    Policy and in that document, the Hon Minister

    reported to us where he had received moneys

    for COVID-19 and how much he had spent.

    This is not my document. This is the document

    of the Hon Minister for Finance which is a

    record in this House. On page 274 of the 2021

    Government's Budget Statement, and Financial Policy, particularly Appendix 12 (b),

    Performance Summary of Funding Sources, all

    the sources that the Hon Minister raised the

    money from, he reported a total of GH₵19.3 billion which he has rightly reported in this

    Report except that he provided utilisation that

    he had already done in each of the areas that he

    has listed.

    He actually even indicated how much of

    those utilisations are as a matter of loans to

    finance the deficit and how much of is our own

    money that does not go into the deficit. The

    Hon Minister concluded that all the moneys we

    borrowed that utilised and not sitting in any

    bank account up at about GH₵16.4 billion. He reported in that same document that when he

    now adds our own money which in this case is

    the money he drew down on our Contingency

    Fund, the total amount is GH₵18.1 billion. This does not look like GH₵12 billion. — [Laughter] — In fact, that is 50 per cent under reporting. From the Hon Minister's own document before this House, he is unable to

    speak to his own numbers a year after. That is

    very serious.

    Mr Speaker, if I take the numbers the Hon

    Minister is reporting for 2021, that he spent

    GH₵3.9 and I add it to the figure he gave me for 2020, I get a total expenditure on COVID-

    19 of GH₵22.1 billion, the Hon Minister's own Report. The Hon Minister is not reporting to us

    GH₵10 billion of our own money in his own Report. This is not my Report. This is the

    Budget Statement and Economic Policy of the

    Minister for Finance, which is a public record

    in this House and that after almost a year,

    Mr Speaker, we must be very serious in this

    House and we must be serious with the

    international community that gave us the

    money. This is an affront to democracy, and I

    sit here and cannot even trust the documents

    that they give to me because I do not know of

    its life span. In fact, two days later, that

    document would not be the same. How can I be

    relying on this kind of data from the same

    source? It is very serious.

    Mr Speaker, I have heard my Hon

    Colleagues trying to say that we should not

    probe this because the Auditor-General would

    bring us a Report. Our audit practice and

    reporting do not provide room for a special

    audit to be presented on only COVID-19. The

    Audit Report would report the totality of

    Government's finances and that of the public. By then, we would have approved a special

    expenditure and would have gotten a special

    funding. Yet, we would be struggling to get to

    the bottom of that matter which requires a

    special activity. Our current arrangement of

    audit does not give us the opportunity of what

    we want, and what we want is that we want to

    be sure whether it is GH₵17.7 billion as reported by the President or GH₵12 billion as

    Statements

    reported today by the Hon Minister for Finance

    or it is the GH₵22 billion he reported to us last year.

    Mr Speaker, this cannot be something that

    would require the Auditor-General to give us

    an omnibus account. To do justice to the people

    of Ghana and to reclaim the credibility of the

    political class in the utilisation of our

    resources, there is an urgent need for

    Parliament to reclaim its integrity by making

    sure that we take steps to get to the bottom of

    these three conflicting numbers that expose the

    reporting of our finances.

    Mr Speaker, we have heard voice notes and

    audio of certain political candidates that claim

    that our COVID-19 money was shared to them

    for elections. — [Interruption]— This is a serious indictment on us.
    Mr Speaker 12:58 p.m.
    Hon Member, comment on
    the Statement made the Hon Minister for
    Finance —
    Mr Adongo 12:58 p.m.
    Mr Speaker, I withdraw.
    However, suffice it to say that I am struggling
    to reconcile the numbers given by the Hon
    Minister for Finance in two different
    documents that he published and that of the
    President of the Republic. I am at pains to see
    how the Auditor-General's Report would resolve this matter.
    Mr Speaker, on this basis, I would like to
    support the call that Parliament must take its
    destiny into its own hands and get to the bottom
    of this matter.
    Mr Speaker 1:08 p.m.
    Hon Members, we now have
    to listen to the comments of the Hon Deputy
    Majority Leader, Mr Afenyo-Markin.

    Deputy Majority Leader (Mr Alexander

    Kwamena Afenyo-Markin): Mr Speaker, I

    thank you for this treasured space to make

    comments on the submissions made by the Hon

    Minister for Finance.

    Today, history would recall that the

    Minority created its own cul-de-sac upon

    creating so much impression about the

    COVID-19 expenditure and when the

    opportunity came, it entered into its own ditch.

    Mr Speaker, I have listened to the

    comments by my respected Hon Colleagues in

    the Minority, and there are so many

    inconsistencies in the comments coming from

    one Side. Whereas the Dr Ato Forson submits

    that the Hon Minister for Finance must be

    commended for his consistency in reporting, — [Hear! Hear!] — his other Hon Colleague, Mr Adongo, is on his own route, saying other

    things. In my view, the Minority as a Group

    should have come with a consistent common

    ground to advocate a position so that

    Ghanaians would understand them.

    Mr Speaker, I align with the Hon Minister

    for Finance, and we are on the same position. Their Side is inconsistent: whereas Hon Ato Forson, who has been in Government before, appreciates the fact that there has been a consistency and commends the Hon Minister for Finance, others are taking the Hon Minister for Finance to the cleaners. These are

    Statements

    comments that posterity would judge them on. These are comments that Hansard would remember forever, that Dr Ato Forson, in his comments — truth results in bravery, and the Hon Ranking Member for the Finance Committee Finance has today, after all the attacks —
    Mr Speaker 1:08 p.m.
    Hon Deputy Majority Leader, I definitely deferred to you because of your position, but so far, what you read yourself as the Standing Orders talk about comments on the Statement made by the Hon Minister, not comments made by other Hon Members. But I agree with you that in making your comments, you have to refer to earlier comments, but you have not made any comment of your own so far.
    Mr Afenyo-Markin 1:18 p.m.
    Mr Speaker, you are well-placed in the East of this Chamber to guide, and I take a cue. Suffice it to state that before my own comments, I must commend the Hon Ranking Member, and if we do not compliment each other in this Chamber, this Chamber would collapse. — [Laughter] — Our duty as democrats in upholding this democracy is to complement each other, and my respected Hon Colleague, Dr Cassiel Ato Baah Forson, — [Interruption] — the Hon Ranking Member — [Interruption] — former Deputy Minister for Finance, PhD, et cetera, today, has subjected himself to facts.
    Mr Speaker, having said that, my own comments — [Laughter] — The Hon Minister for Finance, although he walks through the valley of the shadow of death, his faith has led him to fear no evil, and where the name of the Lord is invoked, trust that no danger shall ensue. And today, I shall refer my Hon Colleagues, as part of my comments, to Standing Orders 151 and 152 of the Rules of
    this House. We should not in our desperate attempt to bring down a Government policy, or in our desperate attempt to get power, render the Rules otiose. These Rules are there to guide all of us. We have Committees in Parliament. If — in the comments by Dr Ato Forson, he contends that he does acknowledge that indeed the Ministry of Finance did not do the specific expenditures. He contends, and this is factual, and I commend him for that. If that is so, and we agree and believe same to be true, then let us rely on the Committees of Parliament. We do not need a Special Committee. We do not need an ad hoc Committee — [Interruption] —
    Mr Speaker, would my Hon Friends be
    tolerant? I listened to them quietly. This is a
    beautiful Chamber where we make comments
    and enjoy each other. May they be quiet and
    listen to me? It is my turn now. Mr Speaker, the
    point is that we should not render the Rules of
    this House otiose except when there is an
    exceptional situation, and so far in their
    submission, there has not been any comment
    arguing an exceptional circumstance. I believe
    that if we are dealing with expenditures at the
    Ministry of Health, the Committee on Health
    has the capacity.
    In any event, I see this call for a Special
    Committee as a rehash, as another approach, to
    reintroduce a Motion that was defeated on the
    floor of this House on procedural grounds. Mr
    Speaker, there is going to be a constitutional
    approach in even further dealing with the very
    concerns they have raised. We have an
    Auditor-General, who has a constitutional
    mandate to deal with expenditures from
    various Ministries, Departments and Agencies
    (MDAs). So, nothing can be hidden from the
    people of Ghana.

    Statements

    Mr Speaker, because the Hon Majority

    Leader is going to round up, I would not go

    further, except to state for the records that

    when one is dealing with trust funds, and with

    this, I would like to direct my submission at Dr

    Cassiel Ato Baah Forson. He, in his comments,

    strongly — I do not want to say he criticised the Hon Minister for Finance or he thought the

    Hon Minister for Finance failed to account for

    it, but the law must be clear. I know that

    generally, that was Dr Forson's expectation, but it is a fund being managed by its trustees,

    and the Hon Minister indicated that this is the

    fact.

    Mr Speaker, Dr Forson is talking about

    public funds. Our laws are clear on what

    constitutes public funds, and I would not like

    to — Dr Forson knows that we share the same esprit de corps, and I would not like to — when he errs, I would like him to be magnanimous,

    and when I err, I expect the same thing from

    him. However, the contention that the Hon

    Minister has failed to render an account on that

    Trust Fund because it is public funds, with the

    greatest respect — Sometimes, we all err, but on this occasion, I dare contend that in his

    comments on that aspect of the submission as

    contained in paragraph 14, Dr Ato Forson got

    it entirely wrong. I hold that view, respectfully,

    that he got it all wrong. The Hon Minister

    stated the facts; he did not veer away from the

    fact.

    The Hon Minister has been consistent and

    transparent, and today, nobody can say that

    during the lockdown, we did not serve hot

    meals. Nobody can say that during the

    lockdown, Ghanaians did not receive nose

    masks. Nobody can say that the Parliament of

    Ghana was denied what it needed to protect the

    275 of us.

    Mr Speaker, by the grace of God, through

    the intervention of this Government and the

    proctiveness of the Hon Minister for Finance,

    none of us lost his or her life. All 275 of us are

    intact; all of us are here. We took our jabs, we

    were protected, and what more?

    We are here to receive the facts, and when

    the facts are given to us, we should at least be

    fair in acknowledging it.

    Mr Speaker, I conclude by saying that

    putting all the comments of the Minority

    together, save that their Leader is yet to speak,

    and I trust that he is walking on the path of Hon

    Dr Ato Forson - I know that nothing can take what Hon Dr Ato Forson has said away from

    the records, and the standard he has set cannot

    perish this afternoon. Nobody can attempt to

    perish what Hon Dr Ato Forson has said, that

    the Hon Minister was consistent, transparent,

    and must be commended.

    Mr Speaker, on that note, I thank you

    without further submission.
    Mr Speaker 1:18 p.m.
    Hon Members, we would
    now listen to the comments of the Hon
    Minority Leader, Mr Haruna Iddrisu.
    Minority Leader (Mr Haruna Iddrisu) 1:28 p.m.
    Mr Speaker, I would like to first of all thank
    you for the leadership you have provided in
    supporting this House, the Parliament of
    Ghana, to demand and exact accountability
    from the Hon Minister for Finance in pursuit of
    our primary role of exercising oversight.
    Mr Speaker, it is refreshing that the
    preamble of our Constitution emphasises

    Statements

    freedom, justice, probity and accountability.

    We all have the Statement made by the Hon

    Minister for Finance, so with respect, I would

    like to refer the House to page 10, in particular

    paragraph 34 of the Statement. He states:

    “transfer of GH¢1,501 million to the Statutory funds in line with the approved

    budget to enable them deliver on their

    mandate.”

    Mr Speaker, statutory funds, especially the

    District Assemblies Common Fund (DACF),

    are established by article 252 of the 1992

    Constitution as revenue driven so, how then

    can the Ministry use a loan for the purpose of

    statutory funds? Since when has borrowing

    funds become revenue for the Ministry to

    allocate GH¢1,501 million to statutory funds

    from borrowed amounts when the Constitution

    requires that a percentage of the total revenue,

    not a percentage of total borrowing, is

    dedicated to the statutory funds?

    Mr Speaker, then, on the same page 10,

    paragraph 33(c), the Hon Minister of Finance

    says:

    “the establishment of the Development Bank Ghana to address gaps in the

    Ghanaian credit markets, especially the

    availability of medium and long-term

    finance for the private sector. A total

    amount of GH¢853 million...”

    Mr Speaker, a few days ago, H. E. the

    President was reported in the Ghanaian media

    on this particular matter.

    Mr Speaker, on page 4 of the same

    Statement made by the Hon Minister for

    Finance, the amount of money he received

    from the European Union (EU), which was

    meant for the purpose of establishing the

    Development Bank Ghana (DBG) is GH₵504 million. The Ministry spent GH₵800 million on the establishment of DBG, and they are also

    accounting for the money they received from

    the EU only giving GH₵504 million; yet, the people of Ghana are aware that DBG was

    established with seed money from the EU

    money of GH₵853 million. We need the fine details.

    Mr Speaker, in Table 1, paragraph 9 of the

    Statement, the Hon Minister provides for

    GH₵504 million while he reports GH₵800 million, a discrepancy of almost GH₵300 million. It is now even established that DBG is

    wholly established with statutory funds, even

    though we take note that the Parliament of

    Ghana was not given the opportunity to

    legislate on it. Even with our sad experience of

    over GH₵21 billion being spent on cleansing banks, the Hon Minister only needed

    Parliament to guide him in the establishment of

    new banks. We want a reconciliation.

    Mr Speaker, I am also holding the Message

    on the State of the Nation by H.E. Nana Addo

    Dankwa Akufo-Addo, presented to this august

    House on Wednesday, 30th March, 2022, at

    Parliament House. I refer the House to page 4

    and I quote His Excellency the President:

    “In all, data from the Ministry of Finance tells us that an amount of GH₵17.7 billion (or 4.6 per cent of GDP) has been spent in

    containing the pandemic since 2020.”

    Mr Speaker, H. E.y the President of Ghana

    said GH₵17.7 billion, and the Hon Minister for Finance also says GH₵12 billion so, who

    Statements

    should we believe? His Excellency the

    President or the Hon Minister?

    Mr Speaker, further, H. E. the President also

    had this to say on the same page 4 of the

    Message on the State of the Nation, that: “It took an unbudgeted GH₵1.9 billion to ensure that our children and teaching staff went back

    and stayed in school safely...” His Excellency the President said GH₵1.9 billion. I would like to refer the House to page 11, paragraph 36, of

    the Statement made by the Hon Minister in the

    House, where he says: “an amount of GH¢1,119.73 million [which is another

    discrepancy] was allocated for Mass School

    Reopening in January, 2021,” yet, H. E. the President says in the Message on the State of

    the Nation that it is GH₵1.9 billion. The Hon Minister has given us GH ₵1.1 billion, another unexplained discrepancy.

    Mr Speaker, for us, a probe and an open

    public enquiry into the COVID-19 expenditure

    beyond the headline numbers of the Hon

    Minister of Finance is inevitable and an

    imperative. We are not looking for headline

    figures like him telling the House that he spent

    GH₵12 billion; GH₵12 billion on what? We need the expenditure returns and details of

    every amount.

    Mr Speaker, Hon Dr Ato Forson also raised

    the fundamental issue of accountability of the

    COVID-19 Trust Fund, which is established by

    an Act of Parliament. The reason we are asking

    for accountability is because we know that

    beyond the public-spirited individuals who

    were determined to support H. E. the President,

    he had to save lives. We are not questioning

    that he needed to save lives, but he had to save

    lives in the arena of probity and accountability.

    Mr Speaker, in that COVID-19 Trust Fund,

    we are told that the National Health Insurance

    Authority (NHIA) contributed

    GH₵250,000.00; Ghana Stock Exchange (GSE), GH₵100,000.00; Ghana National Petroleum Corporation (GNPC), GH₵1 million; Ghana National Gas Company

    Limited (Ghana Gas), GH₵1 million; and the Social Security and National Insurance Trust

    (SSNIT), GH₵500,000.00. These are all public funds that must be accounted for to the

    Parliament of Ghana. That is what we are

    demanding.

    Mr Speaker, this is what makes the case for

    a public investigation or a public enquiry.

    Whether it is an ad-hoc Committee, the

    Finance Committee or any other committee,

    we want an open public hearing on how

    COVID-19 expenditure was done in the name

    of this Republic.

    Mr Speaker, I can only commend you and

    conclude my comments. In concluding, for the

    record, I would like to refer the House to

    programme resources provided in Table 1 of

    page 4, where the Hon Minister gives us where

    he got the resources from.

    Again, conspicuously missing in these

    resources is the International Fund for

    Agricultural Development (IFAD) loan. I have

    the Hansard of 16th October, 2020, on the

    IFAD loan:

    “… Government of the Republic of Ghana (represented by the Ministry of Finance) and the International Fund for Agricultural Development (IFAD) for an amount of twenty million United States dollars (US$20.00 million) to finance the imple- menttation of the Emergency Support to

    Statements

    Rural Livelihoods and Food Systems Exposed to the COVID-19 (ESRF)”

    Mr Speaker, first of all, we would like to find out whether farmers actually benefitted from this facility, and whether this US$20 million has been accounted for in the COVID- 19 resources. This is the Parliamentary Hansard of Friday, 16th October, 2022.

    Mr Speaker, let me speak on the table then I can conclude. On page 4, the Hon Minister for Finance accounted for GH₵19.36 billion as programme support received. Mr Speaker, when you come to status update on COVID-19 expenditure on page 6, he accounts for GH₵12 billion, and the President accounts for GH₵17.7 billion. The Hausa people would say kudi na yaa batse, to wit, “where is the missing money”? GH₵17.7 billion, against GH₵12 billion, and against GH₵19.7 billion; where is the money? This makes our case compelling for a probe and an investigation.

    Mr Speaker, once again, I thank you for enabling this House to exercise its oversight. This is what the Ghanaian people expect you and this Parliament to do: to hold Hon Ministers accountable, and to protect the public purse by demanding accountability of the COVID-19-related expenditure. The President says GH₵17.7 billion, the Hon Minister says GH₵12 billion, yet he received GH₵19 billion. Na sika no wɔ hen? To wit, “where is the money?”. We are demanding for the rest of the money.

    Mr Speaker, we demand that you refer this Statement to a Committee of Parliament, whether an existing Committee or a Standing Committee, to probe into the COVID-19

    expenditure beyond the headline numbers, and for this Committee to demand for the expenditure returns so that we would be seen to be protecting the public purse. I rest my case.
    Mr Speaker 1:28 p.m.
    Hon Members, the last comment would be made by the Hon Majority Leader and Leader of Government Business, Hon Osei Kyei-Mensah-Bonsu.
    Majority Leader (Mr Osei Kyei- Mensah-Bonsu) 1:28 p.m.
    Mr Speaker, I thank you very much for this opportunity to make some brief comments about the presentation of the Hon Minister responsible for Finance in respect of the COVID-19 expenditures.
    Mr Speaker, the Hon Minister for Finance was summoned to this House to make a Statement on the COVID-19 expenditures for 2020 and 2021. The Hon Minority Leader has reminded us that what we are doing is part of our oversight responsibilities, and I agree entirely with him that we need to position Parliament to be able to enquire into expenditures by way of providing oversight to enable this country know whether we have value for money in the expenditures that we incur.
    Mr Speaker, the Hon Minority Leader has quoted the preamble of the 1992 Constitution to us which emphasises probity and accountability. We must ensure probity and accountability within the strictures of the law. It cannot just be populism; it must be done within the strictures of the law.
    Mr Speaker, the Hon Minister for Finance allocates resources for various expenditures to the various bodies: Ministries, Departments,

    Statements

    Agencies and other arms of Government including Parliament, the Judiciary, and other constitutional creatures. He makes allocations for expenditures to these bodies. Mr Speaker, it is not for the Ministry of Finance to follow them on the path of their expenditures. That, indeed, is reserved to us in Parliament, the various Committees, to do that. Thus, when we summon the Minister for Finance to Parliament to make a Statement on expenditures given to the various bodies, as I said, including Parliament, in my considered opinion, it is a bit misplaced. I say so because Parliament was given resources to deal with COVID-19, and Parliament by itself did that. Have we submitted any expenditures to the Hon Minister for him to respond to Parliament?

    Mr Speaker, do you see what the Minority

    in Parliament is doing? It is completely

    misplaced. We have Committees in this House,

    as provided for under article 103(3) of the 1992

    Constitution. I am happy that the first person

    who spoke to the Minister's Statement related to that.
    Mr Speaker, article 103(3) says 1:28 p.m.
    “Committees of Parliament shall be charged with such functions, including the
    investigation and inquiry into the activities
    and administration of ministries and
    departments as Parliament may determine;
    and such investigation and inquiries may
    extend to proposals for legislation.”
    Mr Speaker, we have the various sector
    Committees, and I keep referring to this matter
    every time in this House. I do not want to say
    that our Committees have been negligent —
    Mr Speaker 1:28 p.m.
    Hon Majority Leader, I am
    compelled to suspend Sitting for 10 minutes.
    We would be back in 10 minutes, and you
    could continue.
    Mr Kyei Mensah Bonsu 1:28 p.m.
    Mr Speaker, we
    appreciate.
    1.36 p.m. — Sitting suspended.
    1.50 p.m. — Sitting resumed
    Mr Speaker 1:28 p.m.
    Hon Majority Leader, you
    may continue.
    Mr Kyei-Mensah-Bonsu 1:28 p.m.
    Mr Speaker,
    thank you very much.
    Mr Speaker, as I was saying, the Hon
    Minister for Finance makes allocations to the
    various Ministries, Departments, and Agencies
    (MDAs), including the other arms of
    Government, and also the constitutional
    creatures: the National Commission for Civic
    Education (NCCE), Electoral Commission,
    Media Commission, Commission on Human
    Rights and Administrative Justice (CHRAJ),
    and the other State institutions and enterprises.
    What the Hon Minister does is to just make
    allocations for expenditures. How the
    expenditures are incurred is not the
    responsibility of the Hon Minister for Finance
    to come and give an account of such to this
    House. That is why I am saying to the House
    that in my candid opinion, this invitation to the
    Hon Minister is a bit misplaced.
    Mr Speaker, the Hon Minister can give, as
    my Hon Colleagues have spoken to, the broad
    strokes of the allocations of expenditures. How
    the expenditures are done in the various
    MDAs, including Parliament, is not for the

    Statements

    Hon Minister to come and give an account; it

    is for the various Committees of the House.

    That is the reason I quoted the import of article

    103(3), and to rehash:

    “Committees of Parliament shall be charged with such functions, including the

    investigation and inquiry into the activities

    and administration of the ministries and

    departments as parliament may determine;

    and such investigation and inquiries may

    extend to proposals for legislation”.

    Once we identify some serious mischief,

    Parliament could then propose some

    legislation to cure the mischief that might be

    discovered. That is the work of the

    parliamentary Committees, and with respect,

    Mr Speaker, the Speakers of Parliament do

    Chair the Committee for the composition of

    these Committees.

    Mr Speaker, I know for whatever reason,

    some people have made it appear that the Hon

    Minister for Finance deliberately elected not to

    respond to the invitation of the House with

    respect to the particular subject matter. I

    believe the time has come for us to make a clear

    determination on this matter. Whether to allow

    the Ministers of State and Deputy Ministers at

    the Ministry to come and respond to Questions

    or invitations to the Ministry so that the pile up

    of questions would not accumulate as we are

    seeing today. This is because today, the Hon

    Minister has about 16 Questions beyond what

    he has done to respond to.

    Mr Speaker, we met Mr Kwame Peprah

    when we first came to Parliament in 1997 as

    the Minister for Finance. Mr Kwame Peprah

    was not coming to this House; the person who

    was coming to this House was Mr Victor

    Selormey. He was always in the House with us,

    and the House agreed that Hon Victor

    Selormey should take the place of Mr Kwame

    Peprah. On certain occasions, there were

    murmurings and people bemoaned that he

    himself must come here but we know that the

    Ministers for Finance are in very precarious

    positions dealing with so many things at the

    same time. So perhaps, the House should come

    to some determination on this.

    Mr Speaker, having said so, in the

    governance architecture, Parliament is the

    body charged with the oversight responsibility

    to trace and track the usage of allocated

    resources. Resources are allocated to the

    various Ministries, Departments, and Agencies

    and other arms of Government as I have said,

    as well as the other constitutional bodies and

    also, some State enterprises. The Hon Minister

    for Finance has the responsibility to do the

    allocation of resources of State, and that is

    expressed in the Government Financial Policy

    and Budget Statement presented to the House

    from time to time. After the allocations have

    been made, it behooves the various

    Committees of the House under article 103(3)

    and indeed, part 20 of the Standing Orders, to

    trace and track these allocations to ensure that

    the nation has value for money in these

    allocations. The Ministry, as a midwife, will

    always be in readiness to work with any such

    Parliamentary Committee if they want

    additional information; that is how Parliament

    works.

    Mr Speaker, unfortunately, we must all

    admit that by the structure of our Parliamentary

    Committees, the Committees themselves are

    not strong enough. How do we restructure the

    Committees to let them have the strength to

    perform these oversight responsibilities? That

    Statements

    is where Ghana's Parliament is lacking and indeed, I would want to plead that this cannot

    be counted as one of the numerous sins of the

    Minister for Finance if the Hon Minister has

    any sins, and I believe the Hon Minister has

    many sins indeed.

    Mr Speaker, when Parliament has done its

    work, indeed, with the rolling out of any

    budget cycle, it is for the Committees to follow

    the Ministries and constitutional bodies with

    other arms of Government in how they are

    spending their allocations, and report

    timeously to this House. The Committees do

    not do that so we are always looking at the

    Auditor-General to fulfil its responsibility once

    the year ends. That is not supposed to be the

    architecture of governance. If we want proper

    probity and accountability as stressed by the

    Minority Leader, the Committees of

    Parliament should be made to work. The

    Minister for Finance cannot take the place of

    the Committees of Parliament.

    Mr Speaker, the Auditor-General at the end

    of every year, is required to complement the

    efforts of Parliament by auditing and reporting

    on the public accounts of Ghana to Parliament

    and that is provided for by article 107 (2). The

    Auditor-General must submit his report of

    audit to Parliament and draw its attention to

    any irregularities in the accounts audited in line

    with article 107(5).

    Mr Speaker, I am not oblivious of the

    imperative of Standing Order 67(1) (h), which

    provides that a Question —
    Mr Speaker 1:28 p.m.
    Hon Majority Leader, just a
    minute.
    Hon Members, in view of the nature of Business before the House, I direct that Business be held outside the normal prescribed hours.
    Yes, Hon Majority Leader, continue.
    Mr Kyei-Mensah-Bonsu 2 p.m.
    Mr Speaker, as I was saying, I am aware of the imperative of Standing Order 67(1) (h), which provides that
    “a Question shall not be asked the Answer to which is readily available in official publications''.
    The Government Budget Statement and Economic Policy that we are all quoting from is an official publication. The COVID-19 expenditures have been broadly provided for in pages 274 and 275 in the 2021 Government Economic Policy and Budget Statement.

    Then, Appendix 1 of the 2021 Mid-Year Review also provides for this as copiously quoted from by the Dr Ato Forson. These are official publications.

    Mr Speaker, also on page numbered 335 of the 2022 Government Budget Staement and Economic Policy, these pieces of information that we require or are looking for are provided in these official publications and our Standing Orders provide that if they are provided for in these official publications, then we should not ask questions relating to them.

    Mr Speaker, beyond that and with respect to the granular issues at the various Ministries, Departments and Agencies, the arms of Government, including Parliament and as

    Statements

    constitutional bodies, I am afraid, but the job of tracing and tracking expenditures is that of Committees of Parliament and not the Hon Minister for Finance. That notwithstanding, and I believe to set minds at ease, the Hon Minister for Finance has been here and for the avoidance of doubt, he has come to provide the relevant information to the House.

    Mr Speaker, I think for the umpteenth time, it is important to go back to bullet 6 of the information that the Hon Minister provided us because some fetish is being made about some inconsistencies in figures that have been quoted by the President, the Vice President and indeed, the Hon Minister for Finance. It is abundantly clear that what people are referring to as the shortfalls is provided for in bullet 6 and for the avoidance of doubt, let me quote what the Hon Minister said to us. He said:

    “Furthermore, during the presentation of the 2020 Mid-Year Fiscal Policy, I indicated that the supplementary request included a programme funding of GH₵19.3 billion from the various funding sources to support the budget both directly and indirectly. On the expenditure side, an amount of GH₵11.16 billion was programmed for the COVID-19 related expenses (details attached as appendix 1). The difference of GH₵8.14 billion was pro-grammed to provide for shortfalls in revenue”

    So when people talk of a shortfall that has not been explained, Mr Speaker, it is here in bullet 6. Why have people elected to just close their eyes over this? Clearly, it is a deliberate attempt to position the Hon Minister and cause disaffection for him that he is trying to cover

    up; there is no cover-up. The answer is here, they should read and they would see.

    Mr Speaker, so, this is much I do about nothing. Now, as I have said, article 103(3) of the 1992 Constitution provides for a setting up of committees. People are calling for the setting up of ad hoc Committees. What is the business of an ad hoc Committee in this? Our Standing Orders provide in Order 191 and I quote:

    “The House may at any time by motion appoint Special or Ad Hoc Committee to investigate any matter of public importance; to consider any Bill that does not come under the jurisdiction of any of the Standing or Select Committees.”

    Mr Speaker, as I was saying, these expenditures fall under the various subject matter Committees, in particular; Health - [Interruption] the — COVID-19 expenditures were incurred by Parliament, the Ministry of Health, the Ministry of Education, and even the Ministry of Finance. So, these Committees must be liberated to work and do better work and when they finish, they would submit their reports to us. So, they are covered. They are subject matter Committees that have the responsibility of tracing and tracking these expenditures and if there are subject matter Committees that could have responsibility, why canvass for the setting up of an ad hoc Committee? As far as I am concerned, it has no basis.

    Mr Speaker, I think we should liberate the relevant Committees to work and bring us a

    Statements

    report. If we would like to have the report, because there are so many matters that must be done, we could, like we did with the Committee on Defence on the shooting incidence. We could say to them—Parliament is adjourning I guess on the 26th or 27th of July. We can then tell the relevant Committees to trace and track their locations with respect to the COVID-19 and report to us maybe within two weeks and not exceeding three weeks. We would then be doing justice to this House rather than saying that we should set up an ad hoc Committee. I do not see the justification in this at all.

    Mr Speaker, having said so, I believe we

    should express our gratitude to the Hon

    Minister for responding to the House to give us

    the briefing that he has served to the House. I

    believe anybody who has listened to us

    objectively and conscientiously would know

    that the Hon Minister has not made any attempt

    to hide anything; he has come out with the truth

    and nothing but the truth.

    Mr Speaker, if there are any other matters,

    could we refer them to the various Committees

    to continue further enquiries and investigations

    so that minds would be set at ease and if indeed

    something untoward has also been done — Dr Ato Forson is saying that we should do a

    reconciliation of the Committees. Mr Speaker,

    this is not the Appropriations Committee.

    Mr Speaker, I thank you for the opportunity

    granted and I believe that from now on, we

    shall live in the House in peace and with the

    understanding that indeed, the Hon Minister

    has done justice to the invitation that was

    extended to him to come and respond to the

    COVID-19 expenditures.

    Mr Speaker, I thank you very much for the
    Mr Speaker 2 p.m.
    Hon Members, I would like
    to give the Hon Minister the opportunity to
    make any comment, if he so desires on what
    has been said so far. If he feels it is not
    necessary, I would give my directives.
    Mr Ofori-Atta 2 p.m.
    Thank you very much
    again, Mr Speaker.
    Mr Speaker, I would like to take the
    opportunity to thank Hon Members for this
    invitation. I like the spirited nature of the
    conversation and I am certainly available to
    support any further questions that people may
    have outside of this Chamber to ensure that
    there is clarity because I think in clarifying this,
    it also gives confidence to our various partners
    and also supports the nation to know that the
    extraordinary measures that the President took
    such that Mr Speaker, at the end of the day,
    over six million lives were lost globally as a
    result of the COVID-19 pandemic. Africa had
    about 253,000 and Ghana had 1,445 attesting
    to the fact of what we all did to save lives.
    Thank you very much, Mr Speaker. [Hear!
    Mr Speaker 2:18 p.m.
    Hon Members, the Hon
    Minister for Finance responded to the call of
    the House to account for the utilisation of the
    COVID-19 Funds. The Hon Minister has
    accordingly responded to that request today
    through a Statement under our Standing Order
    70. The Standing Order 70 emanates from the
    article that has been quoted extensively by Hon

    Statements

    Members and that is article 103, particularly,

    clause (3).

    Hon Members, I must say that article 103(3)

    is not the same as the functions of the Auditor-

    General (A-G). There is a difference between

    investigating and inquiring into activities and

    administration of the Ministries, Departments

    and Agencies (MDAs) and auditing, which is

    usually conducted by the Auditor-General;

    there is a difference. So, we cannot say that

    because the A-G is going to audit accounts,

    Parliament is disenabled from going into it by

    way of investigation and inquiry into the

    utilisation of the COVID-19 funds. We have

    the mandate to do so [Pause].

    Hon Members, I did request from the

    Clerks-at-the-Table to be sure of what was

    communicated to the Hon Minister because the

    item numbered 7 on today's Order Paper says:

    “Statements; Minister for Finance to brief the House on COVID-19 Expenditure by

    Government”.

    But the directive was for the Hon Minister

    for Finance to appear before the House to

    account for monies approved by Parliament for

    utilisation on the COVID-19 relief pro-

    grammes, so they would have to amend the

    Order Paper accordingly. It is not for the Hon

    Minister to come and brief the House; it is for

    him to appear to account for monies approved

    by Parliament for utilisation on the COVID-19

    relief programmes.

    The Hon Minister has, according to the mandate of the Ministry, given us the broad

    lines of the monies that they have released to the various MDAs for the purposes of us countering the onslaught of the COVID-19 in the years 2020, 2021; I did not see figures of the year 2022 even though I know the COVID- 19 is still on and there is expenditure for it.

    At the end of the day, the comments of some Hon Members are calling for the House to set-up and an ad hoc Committee to investigate and enquire into this matter. I am persuaded by those who believe that we already have existing Committees that can carry out this function. From the comments of the Hon Members, I believe there are still lot of gaps that we need to throw light on. Hon Members, apart from the figures that our attention has been drawn to, between what the Hon Minister said today and his Statements earlier which are contained in documents, I also think that in paragraph 15 of his Statement where he said;

    “Mr Speaker, it must be noted that the status of the utilisation of the funds to finance the COVID-19 measures excludes funds of the National COVID-19 Trust Fund and the Ghana Private Sector COVID-19 Fund” —

    From this Statement, if you read article 178 of the Constitution, it is when the monies become public funds — for the avoidance of doubt, it is good I refer to the article for the edification of all of us. Before I even mention article 178, when you read article 175, it states;

    “The public funds of Ghana shall be the Consolidated Fund, the Contingency Fund and such other public funds as may be established by or under the authority of an Act of Parliament”.

    Statements

    Now, the fund in question falls under the

    ambit of article 175 and, therefore, qualifies to

    be referred to as public fund. That fund was it

    paid into the Consolidated Fund or was it being

    utilised by the Trust Fund? In that case, if it

    was not paid into the Consolidated Fund, it

    would not be possible for the Ministry of

    Finance to account for that, which meant that

    the Trust Fund would have to account for the

    utilisation of that fund. This means that there is

    still the need for further investigation and

    inquiry into this matter. [Hear! Hear!] Article

    178 talks about withdrawals;

    “No moneys shall be withdrawn from the Consolidated Fund except….”.

    The relevant one is article 178(1)(b)(iv)

    which states that:

    “178. (1) No moneys shall be withdrawn from the Consolidated Funds except -

    (b) where the issue of those moneys has been

    authorised —

    (iv) by rules or regulations made under an Act

    of Parliament in respect of trust moneys

    paid into the Consolidated Fund”.

    Hon Members, as I said, from the

    Statement, one cannot tell whether it was paid

    into the Consolidated Fund or it was received

    by the Trust Fund and kept by the Trust Fund

    and the Trust Fund itself was expending it. So,

    we would need to go beyond the Hon Minister

    and get in touch with the Trust Fund to be able

    to unearth these things, therefore there is the

    need for further investigation.

    Hon Members, it is with this that I direct

    that the Finance Committee ably supported by

    the Committee on Health should investigate

    and enquire into the total receipts referred to as

    COVID-19 Funds and how those funds were

    applied for the betterment of the people of this

    country. Definitely, we know that without

    those funds, I do not know how many of us

    would have been alive by now. We are lucky

    as a House that the 275 Hon Members

    survived. At least, a number of us were caught

    by it including the Hon Minister for Finance

    himself even though he is not an Hon Member

    of the House. We lost some good Ghanaians,

    quite painful but at the end of the day, we

    performed far better than many countries in the

    world.

    Some parliaments lost Hon Members of

    Parliament (MPs); some countries lost Hon

    Ministers; some lost judges, and so many other

    important dignitaries, both traditional and

    social.

    So, some work has been done but that does

    not justify that we should not perform our

    function of ensuring that the money was

    utilised efficiently, effectively and econo-

    mically. It is very important for us to do that to

    allay the fears of Ghanaians and this matter is

    of serious public concern. With this, I would

    want to add that the Committee should

    expedite action on this matter. We now know

    the Ministries and the Agencies to invite

    including the Ministry of Finance, for us to

    look at the figures between the Ministry, the

    Presidency, and the others. Try to reconcile the

    figures and also go into the details of the

    expenditure of the moneys that the Hon

    Statements

    Minister for Finance has released to the

    Ministries, Departments and Agencies

    (MDAs).

    I would want to commend Hon Members

    for a very spirited conversation as the Hon

    Minister for Finance would refer to it, and also

    commend him for coming to respond to the call

    of the House. However, it is to urge him that it

    is in his interest, his Ministry, and the

    Government for the people of Ghana to be

    constantly informed about their tax moneys or

    revenues generated for and on their behalf, so

    there is no witch hunting in these matters. That

    is one of the very effective tools of good

    governance and I am happy that the Hon

    Minister for Finance has come to respond to it.

    I also agree that the Hon Minister for

    Finance has a lot of work and that is why this

    House always accepts representation. Luckily,

    the Hon Minister for Finance has about three

    strong men and one strong lady. There is an

    Hon Minister of State and three Hon Deputy

    Ministers or they are now two? All right, it has

    been reduced to two. Yes, my friend, the Hon

    Member for Obuasi, is no more an Hon Deputy

    Minister. Is he the Chairman of the Committee

    now? All right, so he lost out, so we now have

    the Hon Minister of Finance with an Hon

    Minister of State and two Hon Deputy

    Ministers. So, Hon Minister for Finance, when

    you are caught up with other duties, kindly

    ensure that you are effectively represented in

    this House by any of the three — yes. — [Hear! Hear!] —

    I was in this House when the late Mr Victor

    Selormey was virtually the one transacting the

    Business in the House for and on behalf of the

    Hon Minister for Finance, Mr Kwame Peprah,

    who only came to the House for very serious

    business and not the normal Questions and

    other things, but very serious Business like the

    Budget Statement and other things. So, that is

    the spirit with which we work.

    I would want to end here by emphasising on

    the directive — [Pause] — Yes, the directive is for the Finance Committee supported by the

    Committee on Health to investigate and

    enquire further into the application and

    utilisation of all the revenues received, referred

    to as the COVID-19 Funds, and to report to the

    House. In view of the agenda for the rest of the

    Meeting and because we would be going on

    recess, the timeline for the Report to be

    presented is by the first month of our next

    Meeting. The first month of our next Meeting

    would be in October, because by the 27th of

    next month, the House would be on recess, and

    the Committee would need more than just these

    few weeks to do the work. You have ample

    time to do your work, so please submit a very

    comprehensive Report to settle this matter,

    once and for all.

    I thank you so much for your patience and

    attention.

    I have been looking to see if my Hon

    Deputy Speakers are available — good. So at this stage, I would hand over to the Hon

    Second Deputy Speaker, because I need to

    attend to another urgent matter which I am

    behind schedule, but I wish to catch up with

    that.

    Hon Minister for Finance, you are not yet

    discharged; you still have about 12 Questions

    or so to answer. I wish you all the best; thank

    The Hon Second Deputy Speaker to take the

    Chair.

    Meanwhile, we can move on to Urgent

    Questions which is the item numbered 5.

    The first Urgent Question stands in the

    name of the Hon Member for Wa East, Mr

    Godfred Seidu Jasaw.

    Hon Member, you may ask the Question

    now.

    2.26 p.m. —
    MR SECOND DEPUTY SPEAKER
    URGENT QUESTIONS 2:18 p.m.
    MINISTRY OF FINANCE 2:18 p.m.
    Dr Godfred S. Jasaw (NDC — Wa East) 2:18 p.m.
    Mr Speaker, I beg to ask the Hon Minister for
    Finance when the Ministry would issue
    financial clearance to the Ministry of Food and
    Agriculture to clear the large debt owed
    partners and suppliers to ensure availability of
    subsidised fertilizer in this farming season.
    Mr Second Deputy Speaker 2:18 p.m.
    Hon
    Members, before the Hon Minister for Finance
    responds to this Question, we have so many
    Questions and therefore, if the Question is
    constituency specific, the owner of the
    Question would be entitled to it. With the
    supplementary questions, I would only allow

    Hon Members, please, let us allow this because we have 12 Questions and we have

    already spent a lot of time with the Hon

    Minister for Finance.

    Alhaji Muntaka — rose —
    Mr Second Deputy Speaker 2:18 p.m.
    Yes, Hon
    Member for Asawase?
    Alhaji Muntaka 2:18 p.m.
    Mr Speaker, I agree with you that a lot of time has been spent already but my plea is that if you look at the nature of the Questions, you could just restrict it to the Hon
    Member asking the Question, by allowing him or her to ask the full length of the three supplementary questions, so that without any extension to other Hon Members, I am sure that we would be able to manage the time. I just want to plead with you, so that the Questions
    would be properly answered.
    Thank you very much.
    Mr Kyei-Mensah-Bonsu — rose —
    Mr Second Deputy speaker 2:18 p.m.
    Yes, Hon
    Majority Leader?
    Mr Kyei-Mensah-Bonsu 2:28 p.m.
    Mr Speaker, as you said, there are 16 Questions: four Urgent Questions and 12 normal Questions, so I believe that, as has been applied by the Hon Minority Chief Whip, we could limit it to the
    person asking the Question and let us have what we have been doing by convention, even though that is not statutory; no Hon Member is entitled to three supplementary questions. However, by convention, that is what we have been doing, so I would plead that you allow for
    that.

    Urgent Questions

    Let the Hon Member ask the Question and

    the Hon Minister respond and not more than

    two or three other supplementary questions;

    then, we could move on - maximum three.

    Mr Speaker, I believe that if we manage the

    time well, say, three minutes per Question, we

    would be able to deal with it. I would plead

    with you. I say so because it is being made to

    appear outside here that the Hon Minister is

    running away from his responsibilities. He is

    here today; I know it is going to be difficult for

    him, but please, let us have it. When the Hon

    Member asks the Question, let him be entitled

    to three supplementary questions and then we

    would move on.
    Mr Second Deputy Speaker 2:28 p.m.
    Hon
    Majority Leader, respectfully, I was going to
    insist on one supplementary question, but no
    Hon Member would have more than two
    supplementary questions. So, I would limit it to
    two. The Hon Member would have his or her
    main Question and then, if he or she has a
    follow-up, I would allow for two and not three

    Hon Members, please, this is my position.

    The owner of the Question would have his

    main Question and not more than two

    supplementary questions. So, one could have

    two supplementary questions.

    So, Hon Member for Wa East, let us start

    with you. [Interruption] —

    Hon Members, it would be in our own

    interest to manage the time. It is now 2.30 p.m.

    and we have 16 Questions. So — [Interruption] —

    Hon Members, these are my rules: the

    owner of the Question would have his Question

    and not more than two supplementary

    questions. We would start with the Hon

    Member for Wa East, Mr Godfred Seidu

    Jasaw.

    Minister for Finance (Mr Ken Ofori-

    Atta): Mr Speaker, thank you very much. I

    would really like to thank the Rt Hon Speaker

    and the House for clarifying the way in which

    we would continue to engage and therefore,

    allowing my dependable Hon Ministers of

    State and Deputy Ministers to be able to handle

    some of the issues when I am otherwise

    destructed.

    Mr Speaker, it is truly an honour to be here

    and I intend to continue to honour my statutory

    obligations and also, the privilege to update

    Hon Members on various economic issues. I

    have appeared before this House many times,

    including on voluntary requests on the

    COVID-19 issues. I would like to assure you

    that I would honour this august House always

    and not shirk my responsibilities.

    Mr Speaker, I am here today to respond to

    the Questions, but if you would allow me, let

    me please, comment on the very difficult

    economic circumstances that the nation really

    finds itself in, reeling at the onslaught of

    global economic uncertainty created by the

    COVID-19 pandemic and the Russian invasion

    of Ukraine. The world is experiencing an all-

    time inflationary pressure resulting in the sense

    and effect on our own inflation rate of 26.7 per

    cent and the currency depreciation of over 16

    per cent.

    Urgent Questions

    Mr Speaker, this Administration was

    confronted with difficult economic headwinds

    in 2017 and we overcame it. We have also been

    impacted by the COVID-19 pandemic and we

    conquered that. Now, the impact of Russia's invasion of Ukraine and that too, shall pass.

    Like the two fishes and five loaves of bread we

    invoked in the year 2017, we shall see the days

    of harvest even through this.

    Mr Speaker, but we must be resolute in

    speaking one language of unity as a people and

    the Lord promises us that there would be no

    restraint as to how far we can go as a nation

    then. So, like Elijah, let us agree on a new bowl

    of unity and spice it with age-old salt and our

    waters would be healed. There shall not be

    death or a barren land in our country. I believe

    we would become victorious through these

    difficult times and the Black Star would surely

    rise.

    Mr Speaker, to the Question asked by Mr

    Jasaw:

    At the end of the year 2021, an amount of

    GH₵86.31 million was outstanding under the Planting for Food and Jobs (PFJ) Programme.

    This amount has now been released to the

    Ministry of Food and Agriculture (MoFA) for

    payment. This year, MoFA has requested for

    an amount of GH₵485.9 million for payment under the PFJ Programme and an amount of

    GH₵278.57 million has subsequently been released to MoFA.

    Over the last five years from 2017 - 2021, the Ministry of Finance has made budgetary

    provisions to enable MoFA allocate funds to

    cover all these programmes and projects,

    including the PFJ. During this period, there has

    been a cumulative release of some GH₵2.47 billion to MoFA to pay for commitments under

    this programme.
    Mr Second Deputy Speaker 2:28 p.m.
    Yes, Mr
    Jasaw, any further question?
    Mr Jasaw 2:28 p.m.
    Mr Speaker, yes, I have a
    follow-up question.
    Mr Speaker, this follow-up question is
    against the background of the fact that there is
    a shortage of fertiliser on the market now and
    farmers cannot afford to pay for what is on the
    market. So when would the payment be
    effected?
    Mr Second Deputy Speaker 2:28 p.m.
    Hon
    Minister, anyway, are you minded to answer
    that question? If you do not have the specific
    figures or time frame —
    Mr Ofori-Atta 2:28 p.m.
    Mr Speaker, as I
    mentioned, I think the Ministry released the
    commencement to the Controller and
    Accountant General about three weeks ago. So,
    the Hon Member could verify with the
    Controller and Accountant General.
    Mr Second Deputy Speaker 2:28 p.m.
    Yes, Mr
    Jasaw, your last supplementary question.
    Mr Jasaw 2:38 p.m.
    Mr Speaker, the Controller and
    Accountant General is under the Ministry of
    Finance. They would pay when there is money.

    Urgent Questions

    The Ministry has released but payment has not

    yet been made.

    Mr Speaker, my supplementary question is,

    critical as fertiliser is to the production of food

    in this country, and owing to the fact that we

    have owed these suppliers for over two years

    and they have taken bank facilities and credits

    —

    Mr Speaker, would the Hon Minister for

    inance consider negotiating with banks and

    financial institutions to give these suppliers

    some long credit lines to be able to repay debts

    that are owed because the Ministry has not

    been able to pay them in time?
    Mr Ofori-Atta 2:38 p.m.
    Mr Speaker, I think it is
    quite clear to all of us that we are running a
    budget deficit which then leads to some of
    these outstandings that you have talked about.
    However, specifically in the area of
    agriculture, we establish Ghana Incentive-
    Based Risk Sharing System for Agricultural
    Lending (GIRSAL) which in effect, is
    supposed to help guarantee facilities that banks
    may give specifically, in agriculture.
    Therefore, we expect banks to take advantage
    of that and extend longer term loans.
    Mr Speaker, more importantly, with the
    emergence of the Development Bank of
    Ghana, one of the specific areas in which they
    are going to support is agriculture and already,
    a Memorandum of Understanding (MOU) is
    being developed between them and the ADB
    bank to look at this whole perennial and long
    term problem of financing agriculture and not
    only access with regard to funds but also, long
    term and rates that are sustainable. That is part
    of the justification for bringing into emergence,
    the Development Bank of Ghana. So, we look
    forward to better days ahead.
    Mr Second Deputy Speaker 2:38 p.m.
    Very well.
    We would move to Question numbered 1
    (b) which stands in the name of the Hon
    Member for Ablekuma North, Ms Sheila
    Bartels. Hon Member, you may ask your
    Question.
    Current Status of Funding for the
    Construction of the Phase 2 of Tema
    Motorway
    Ms Sheila Bartels (NPP — Ablekuma North) 2:38 p.m.
    Mr Speaker, I beg to ask the Minister
    for Finance the current status of funding for the
    construction of the Phase Two of the Tema
    Motorway, which has been highlighted as a
    major issue for commuters.
    Mr Ofori-Atta 2:38 p.m.
    Mr Speaker, the Govern-
    ment of Ghana completed the Phase 1 of the
    Tema Motorway interchange tiers one and two
    with the grand support of ¥6.259 billion
    approxi-mately US$55 million from the
    Japanese Government and this was com-
    missioned by H. E. the President on 15th June,
    2020.
    Mr Speaker, I am pleased to announce to
    this House that the Government of Ghana has
    completed negotiations with the Japanese
    Government for additional grant funding of
    Japanese ¥3.76 billion which is about US$34
    million for the Phase 2 which covers the design

    Urgent Questions

    and construction of the third tier of the

    interchange. The procurement process for the

    selection of the contractor is scheduled to be

    completed next week.
    Mr Second Deputy Speaker 2:38 p.m.
    Hon
    Member for Ablekuma North, any further
    question?
    Ms Bartels 2:38 p.m.
    Mr Speaker, I have no further
    question.
    Mr Second Deputy Speaker 2:38 p.m.
    We would
    now move to Question numbered 1(c) which
    stands in the name of the Hon Member for
    Bortianor-Ngleshie Amanfro, Mr Sylvester
    Tetteh.
    Hon Member, you may now ask your
    Question.
    Interventions to Clamp the Sustained
    Increments in Fuel Prices
    Mr Sylvester Tetteh (NPP — Bortianor- Ngleshie Amanfro) 2:38 p.m.
    Mr Speaker, I beg to ask
    the Minister for Finance the interventions the
    Ministry is employing to clamp the sustained
    increments in fuel prices, as witnessed in the
    recent pricing windows.
    Mr Ofori-Atta 2:38 p.m.
    Mr Speaker, fuel prices
    have been deregulated since 16th June, 2015 for
    oil marketing companies determining prices
    based on market forces. The increment in ex-
    pump fuel prices have been occasioned by
    volatilities in external crude oil prices and
    foreign exchange effects. Since January, 2022,
    international crude oil prices have increased
    from $74.17 per barrel in December, 2021 to a
    high rate of $133.89 per barrel in March, 2022.
    As of yesterday, 21st June, 2022, crude oil
    prices were still high at $115 per barrel.
    Government has intervened to reduce the
    impact of the price increases on Ghanaians. In
    October, 2021, Government suspended the
    price stabilisation and recovery levies on
    petrol, diesel and LPG for two months. In
    addition, Government reduced the margins in
    the procurement price build up by GH₵0.15 per litre in April, 2022.
    Mr Speaker, Government would continue to
    monitor the developments and act where
    possible.
    Mr Second Deputy Speaker 2:38 p.m.
    Hon
    Member, any supplementary question?
    Mr S Tetteh 2:38 p.m.
    Mr Speaker, yes.
    Due to the volatility of the industry, it is
    obvious that we are not seeing an end to it
    anytime soon. I would like to ask the Hon
    Minister, in case this continues, what would be
    Government's intervention to the good people of this country? This is because, as we speak,
    crude oil is hovering around $115 per barrel. If
    it continues to $150 per barrel, what would be
    the intervention of Government because the
    vast majority of our people are still concerned
    and we appreciate Government's efforts so far, but it looks like it is still going up?
    Mr Ofori-Atta 2:38 p.m.
    Mr Speaker, this is a very
    important question. As we know, we are not a
    net oil producer. The ratio is about 1:5 between
    what we get as royalties et cetera and what we
    use as a nation. So, it poses a real conundrum
    and challenge as to how we, as a country,
    would prioritise to ease some of that burden.
    We would need to really have a discussion as
    to how to go forward. However, in the end, the
    issue would be to, at least, ensure that we move

    Urgent Questions

    on to have better mass transit systems to reduce

    the cost of transportation and find means of

    hauling food et cetera to our urban centres to

    also reduce that cost.

    Mr Speaker, these are major infrastructure

    interventions that are required to ensure that

    food prices are maintained. I think it is a global

    conundrum that we need to put our minds to,

    as a people, to ensure that the living conditions

    of Ghanaians are not taken up by the cost of

    transportation.

    Mr Speaker, that is what I can contribute.

    Thank you.
    Mr Second Deputy Speaker 2:38 p.m.
    Hon
    Member, you may ask your last supplementary
    question.
    Mr S Tetteh 2:38 p.m.
    Mr Speaker, that would be all
    for now.
    Mr Second Deputy Speaker 2:38 p.m.
    Yes, Hon
    Deputy Minority Leader?
    Mr James Avedzi 2:48 p.m.
    Mr Speaker, thank you.
    Hon Minister for Finance, the Budget for
    2022 actually projected revenue from the oil
    based on the crude oil price.

    Currently, the price is above the estimated

    figure used in determining the revenue from

    crudeal. While Ghanaians are buying fuel

    based on the price determined by the world

    market price and inflation, or the value of our

    currency, Government, on the other hand, is

    also raking in some windfall. What can the Hon

    Minister do to use some of the windfall to

    cushion the consumers of crude oil? Thank

    you.
    Mr Ofori-Atta 2:48 p.m.
    Thank you very much, Mr
    Speaker, for the question. I looked behind me
    to see whether the Hon Minister for Energy
    was around, but he is not here. It is a good
    question, but I think the arithmetic is quite
    simple, in the sense that we use about five
    times what we export, so the dynamics — Yes, we may get a 20 per cent increase in resources
    in effect, and an 80 per cent rise in the cost of
    what we import. It is a very illusory windfall.
    We are still in the hold by 80 per cent or so.
    Mr Second Deputy Speaker 2:48 p.m.
    Thank you
    very much.
    Some Hon Members — rose —
    Mr Second Deputy Speaker 2:48 p.m.
    Hon
    Member, I have given the Hon Leader one
    supplementary question. It is okay. Let us
    move on to the Question numbered (d) which
    stands in the name of the Hon Member for
    Bongo, Mr Edward Abambire Bawa.
    Plans to Alleviate Imposed Taxes and
    Levies on Petroleum Products
    Mr Edward Abambire Bawa (NDC — Bongo) 2:48 p.m.
    Mr Speaker, I beg to ask the Minister
    for Finance what the Ministry is doing with
    respect to imposed taxes and levies on
    petroleum products and the depreciation of the
    cedi to slow down the increases in prices of
    petroleum product prices at the pumps.
    Mr Ofori-Atta 2:48 p.m.
    Mr Speaker, as part of
    measures to alleviate the burden of high cost of

    Urgent Questions

    fuel at the pump on consumers, Government

    did suspend the Price Stabilisation and

    Recovery Levy (PSRL), which is a charge on

    petrol, diesel and LPG, from November, 2021

    to the end of January, 2022. The PSRL imposes

    a GHȻ0.16 per litre levy on petrol, GHȻ0.14 per litre on diesel, and GHȻ0.14 per kilogram on LPG. The levy was suspended as part of

    efforts to cushion consumers from the constant

    rise in the price of fuel products in the country.

    The suspension of this levy resulted in a loss of

    revenue of about GHȻ182.6 million for that period.

    Government also intervened to suspend the

    margins on the petroleum price build-up by a

    total of GHȻ0.15 per litre, effective 1st April for three months as part of measures to slow

    down the increasing prices of petroleum

    products at the pump. The details record BOST

    Margin reduced by GHȻ0.02 per litre, Unified Petroleum Margin Fund reduced by GHȻ0.9 per litre, Fuel Marking Margin reduced by

    GHȻ0.1 per litre, and Primary Distribution Margin reduced by GHȻ0.3 per litre.

    Mr Speaker, with regard to the depreciation

    of the cedi, the Bank of Ghana, as we know, is

    the lead interventionist in the issue of the

    currency. The Ministry of Finance is

    complementing their efforts through its fiscal

    consolidation measures and real sector

    interventions. The implementation of the 30

    per cent cut in expenditures and other

    expenditure measures approved by Cabinet are

    all helping to reduce the fiscal deficit and

    thereby, reduce the pressures on the exchange

    rate.

    In addition, Government is undertaking real

    sector interventions, including the Ghana

    CARES (Obaatan Pa) programme, to support

    import substitution of products such as poultry,

    rice, et cetera, thereby reducing foreign

    exchange pressures from the import of these

    products. Furthermore, the implementation of

    the African Continental Free Trade Area

    (AfCFTA) positions Ghana as a continental

    trade hub and boosts exports to support

    exchange rate stability as a goal.

    Mr Speaker, the Ministry of Finance, as you

    know, is also arranging to raise US$1 billion to

    support the 2022 budget and foreign exchange

    reserves. This, of course, is in this House for

    approval. This foreign inflow is expected to

    improve the supply of foreign currency and the

    stability of local currency. Mr Speaker, last

    Thursday, 16th June, 2022, we laid before you

    the Syndicated Term Loan, and we are

    respectfully requesting this august House to

    expedite action in approving it so that this will

    be a key intervention to contain the depre-

    ciation of the cedi. We look forward to working

    with the House to ensure that this is passed.

    Thank you very much.
    Mr Second Deputy Speaker 2:48 p.m.
    Thank you
    very much. Hon Member?
    Mr Bawa 2:48 p.m.
    I thank you very much, Mr
    Speaker. Many people have called for the
    suspension of the Special Petroleum Tax (SPT)
    which is about 0.46p per litre. The Hon
    Minister has indicated, even today, that the
    supposed position of Ghana being a net
    exporter of crude oil is not true because our
    imports outstrip our share of exports. What the
    Ministry of Finance is not taking cognisance of
    is the windfall of Ghana's share as compared to the taxes imposed on petroleum products.
    As we speak, conservatively, if we are to
    use US$90 per barrel for 2022, it is projected

    Urgent Questions

    that Ghana will gain a windfall of US$370

    million —
    Mr Second Deputy Speaker 2:48 p.m.
    Hon
    Member, please ask your question —
    Mr Bawa 2:48 p.m.
    Mr Speaker, I am going to ask
    my question. Without this, I cannot ask the
    question. Taking US$90 per barrel,
    conservatively, it is projected that we would be
    earning about US$470 million. Is it still tenable
    to keep the SPT —
    Deputy Majority Leader (Mr Alexander
    Afenyo-Markin) — rose —
    Mr Second Deputy Leader 2:48 p.m.
    Hon Member,
    please hold on. Hon Leader, what is the issue?
    Mr Afenyo-Markin 2:48 p.m.
    Mr Speaker, we are
    all fully aware of the rules, and my Hon
    Colleague, Mr Bawa, knows what to do. If he
    wants to make a Statement, he should do so,
    and if he wants to ask a question, he should go
    — [Interruption]. Mr Speaker, I have said, time without number, that patience and
    tolerance to listen to one another is important,
    and it shows mutual respect. We must listen to
    one another even if we disagree. That is why I
    was on my feet quietly to catch your eye.
    Mr Speaker, Order 67 is clear. The Hon
    Member should ask a question if that is what
    he wants to do. It is my submission —
    Mr Second Deputy Speaker 2:48 p.m.
    Hon Leader,
    your contribution is well noted.
    Mr Afenyo-Markin 2:48 p.m.
    Yes, Mr Speaker. So,
    he should do the needful.
    Mr Bawa 2:48 p.m.
    Mr Speaker, it is important to
    have an educated background to the question
    so that people would know the preamble under
    which those points are made.
    Mr Second Deputy Speaker 2:48 p.m.
    Hon
    Member for Tamale Central — Hon Member for Bongo, you may go on.
    Mr Bawa 2:48 p.m.
    Mr Speaker, my question is,
    with regard to the fact that Government of
    Ghana is making a windfall in the
    neigbourhood of US$470 million per year
    because of the increase in fuel prices in the
    international market, is it still tenable to keep
    the SPT on the price build-up as a source of
    budget support?
    Mr Ofori-Atta 2:58 p.m.
    Thank you very much, Mr
    Speaker, and thank you, Hon Member, for this.

    I did try to respond to Mr Avedzi about the

    net need for our petroleum need as a

    country and it is 1 to 5. So yes, we may gain

    a windfall because I think, in the Budget

    Statement, we used, maybe, US$62 per

    barrel in our calculation. So, obviously,

    there is a gain.

    In that same level of arithmetic, one

    would see what it is the country has to

    support to make sure that we can have the

    resources we need. So, the question

    becomes why we have to allocate all of

    that. I think those are just the issues that we

    have to contend with, but to isolate one

    area as the potential solution to our

    economic problems would be a bit

    Urgent Questions

    misleading. So, we continue to make

    judgements to ensure that there is

    continuous movement in the country and

    we would always have adequate supply of

    food. So, imagine using that windfall to be

    able to import the petroleum that we need

    in order to be able to move. So, Mr Bawa,

    those are the kinds of judgement we make

    and not that singular silo effect when we

    have these resources. Mr Speaker, thank

    you.
    Mr Second Deputy Speaker 2:58 p.m.
    Yes, Hon
    Member, I would want to take your last
    supplementary question. Establish the
    preamble. Two supplementary questions
    after your main Question.
    Mr Bawa 2:58 p.m.
    Mr Speaker also has
    preambles to Statements but when I give
    mine, then there is a problem. Today, as we
    speak, a litre of fuel is around GH₵14 as compared to year 2016 when it was
    GH₵14 per gallon. The Ghana cedi has depreciated in just the year 2022 alone by
    22 per cent and this has triggered the
    inflation, as at May, to 27.9 per cent. These
    are all creating problems as a result of the
    fuel crisis and the Hon Minister has
    supervised over all these things; does he
    think that it is still right for him to be
    occupying his position as the Minister for
    Mr Second Deputy Speaker 2:58 p.m.
    Hon
    Member, your question is not admissible
    [Gavels]. Hon Members, please allow me
    to handle my —
    Mr Bawa 2:58 p.m.
    Mr Speaker, all right. If it is
    not admissible, then I would — [Interruption]. I would not rephrase; I
    would ask another question. As we speak
    today, Bloomberg has reported that if we
    look at the total import bill for just the
    petroleum sector, it is about US$450
    million in just a month. The Bank of Ghana
    (BoG) is only able to auction about
    US$100 million - [Interruption] — it is not about — what is the Hon Member's problem? What is the Hon Minister's Government doing to ensure that there is
    forex available for importers of petroleum
    products into the country?
    Mr Second Deputy Speaker 2:58 p.m.
    Yes, Hon
    Minister, you may answer the question.
    Mr Ofori-Atta 2:58 p.m.
    Mr Speaker, I did
    mention that we have a syndicated loan
    facility here and we hope that the Hon
    Member, Mr Bawa, would help facilitate
    the passage of that. As the Hon Member
    knows, we have not been able to go to the
    capital market as we usually do, and the
    Hon Member himself talking about the
    global inflationary rise and changes in the
    global economy is aware. Those are all
    pressures that we are all dealing with, and
    therefore, how quickly we are able to find
    external resources in terms of foreign
    exchange is going to be important and I ask
    for the support of the Hon Member as we
    bring the syndicated loan to the honourable
    House. Thank you very much.
    Some Hon Members — rose —

    Urgent Questions
    Mr Second Deputy Speaker 2:58 p.m.
    No, I will
    only give the Hon Deputy Minority Leader
    an opportunity for a supplementary question
    and no other Member. Hon Deputy
    Minority Leader, I would want to hear you.
    Deputy Minority Leader (Mr James
    K Avedzi): Mr Speaker, the answers
    coming from the Hon Minister make me
    feel that Ghanaians have no hope now in
    terms of the fuel prices.
    Mr Speaker, could the Hon Majority
    Chief Whip allow the Hon Minister to
    listen to my question? My concern is that
    the Hon Minister's answers are telling me that Ghanaians do not have any hope now
    in terms of fuel prices, whether govern-
    ment can intervene by either reducing
    some of the taxes in order to bring down
    the prices or do something to cushion so
    that the prices do not keep increasing day
    by day. That is what the Hon Minister's answers tell me. So, does it mean that
    Ghanaians should now throw their hands
    up in despair that, well, the Government
    cannot do anything about this?
    Mr Second Deputy Speaker 2:58 p.m.
    Yes, Hon
    Minister, you may answer the question.
    Mr Ofori-Atta 2:58 p.m.
    Mr Speaker, the Hon
    Member's question is very contrary to the performance of this Government and this
    Government does not throw up its hands in
    the air. We would not have come into
    government in 2016 if we threw up our
    hands in the air because of the headwinds
    that we were going to confront. One would
    realise that from 2017 through the COVID-
    19 period, we have performed very
    creditably on these issues. There is no way
    that we would throw up our hands, first as
    a government and as Ghanaians, we are
    resilient and would find solutions to that.
    What that would mean is, we are still
    working hard to look at how to ensure that
    there is food, and look at how we would
    find ways such as we did during the
    COVID-19 period to ensure that we have
    the least amount of deaths on the continent
    and in the world, generally.
    Mr Speaker, no, there is always hope
    and we are an innovative and a strong
    country and we should never think that we
    cannot do something about it. The question
    about whether we would translate the
    supposed windfall into specifically
    reducing fuel prices is what we would have
    to decide and, as I mentioned, we are, of
    course, ensuring that there is fuel in the
    country and it continues so that business
    goes on as it should, and we would ensure
    that we come out with other strategies to
    ensure that food is available and movement
    of business also continues.
    Mr Speaker, I would not want us to even
    think that we are asking Ghanaians to
    throw up their hands in despair because we
    are not a nation that gives up; we shall
    persevere and we shall win. Thank you

    Some Hon Members — rose —
    Mr Second Deputy Speaker 2:58 p.m.
    We would now move on to the normal Questions. Mr Adongo, no. We have 12 more Questions to go to. We would move to the normal Questions and we would start with Question *236, which stands in the name of the Hon Member for Dormaa West, Mr Vincent Oppong Asamoah.
    First Deputy Minority Whip (Mr
    Ahmed Ibrahim): Mr Speaker, the Hon Member for Dormaa West is unavoidably absent, and he has asked me to ask the Question on his behalf, so I would want to seek your leave.
    Mr Second Deputy Speaker 2:58 p.m.
    Very
    well. You could do that but there would not be any opportunity to ask supplementary questions.
    Mr Ahmed Ibrahim 2:58 p.m.
    Mr Speaker, yes.
    This is on the Hon Member's behalf and maybe, as the Leader, you may give me that opportunity.
    Mr Second Deputy Speaker 2:58 p.m.
    Hon
    Member, we would want to hear you.
    ORAL ANSWERS TO QUESTIONS 2:58 p.m.
    MINISTRY OF FINANCE 2:58 p.m.
    Mr Second Deputy Speaker 3:08 p.m.
    Yes, Hon
    Minister?

    Minister for Finance (Mr Ken Ofori-

    Atta): Thank you, Mr Speaker and Mr Ahmed

    Ibrahim.

    Mr Speaker, arranging for additional

    financing for a project is usually based on a

    request or a proposal from the institution under

    which the project falls. In this case, it is the

    Ministry of Education, and so far, no such

    request or proposal has been received by the

    Ministry of Finance. Until a project proposal is

    received from the Sector Ministry or Agency,

    the Ministry of Finance cannot recommend the

    appropriate funding modality.

    Additionally, Mr Speaker, it is difficult to

    provide a term sheet for a project when the

    Sector Ministry or the agency involved has not

    initiated the project. Per the Public Financial

    Management Act (PFMA), 2016 (Act 961) and

    the Public Investment Management (PIM)

    Regulation, 2020 (L.I. 2411), the cost of any

    such project can be determined only after a

    concept note and a pre-feasibility study have

    been completed by the Sector Ministry or

    Agency.

    Oral Answers to Questions

    Mr Speaker, once received, we will subject

    it to public investment project approval

    processes for consideration and for funding

    when fiscal space is available.
    Mr Second Deputy Speaker 3:08 p.m.
    Thank you.
    Hon Members, let me remind all of you that we
    are not supposed to use more than an hour for
    Questions. I said we should not allow more
    supplementary questions so that we could
    adhere to our Standing Orders. So, please, if
    the owner of the substantive Question is not
    here to ask the main Question, please allow me
    to move on.
    Mr Ibrahim 3:08 p.m.
    Mr Speaker, this particular
    Question was a joint Caucus from the Region,
    together with the Regional House of Chiefs and
    the Hon Regional Minister for Bono —
    Mr Second Deputy Speaker 3:08 p.m.
    Very well.
    Hon Member, let us hear you.
    Mr Ibrahim 3:08 p.m.
    Mr Speaker, the University
    for Energy and Natural Resources was
    formerly a School of Forestry that was
    converted into a university. Is the Hon Minister
    for Finance telling us that he has not received
    any recommendation from the Ministry of
    Education concerning the challenges the
    university is confronted with that necessitates
    additional funding like the other universities I
    have mentioned?
    Mr Ofori-Atta 3:08 p.m.
    Mr Speaker, I am not sure
    of the differences that have been outlined here
    and whether the question is on the
    improvement of the facility or its extension,
    goods and services or financing that is
    required.
    But as I mentioned, those are two different
    issues, and if it is for public investments in that,
    it would require origination from them. I am
    not aware of this specific request so I can look
    into it and do whatever interventions we are
    capable of.
    Thank you, Mr Speaker.
    Mr Second Deputy Speaker 3:08 p.m.
    Thank you,
    Hon Minister.
    Mr Ibrahim 3:08 p.m.
    Thank you, Mr Speaker. We
    would channel it through the Ministry of
    Education.
    Mr Second Deputy Speaker 3:08 p.m.
    Hon
    Members, we turn to Question 383, in the name
    of the Hon Member for Cape Coast South, Mr
    George Kweku Ricketts-Hagan.
    Mr George Kweku Ricketts-Hagan 3:08 p.m.
    Mr
    Speaker, my machine is not working so I have
    to shift to the next one.
    Companies Used as Advisors for the 2021
    Eurobond and Fees Paid to Them
    Mr George Kweku Ricketts-Hagan
    (NDC — Cape Coast South): Mr Speaker, I beg to ask the Minister for Finance which
    companies were used as Local Transaction
    Advisors and Local Legal Advisors for the
    2021 Eurobond and how much they were paid
    in fees as individual companies.
    Mr Ofori-Atta 3:08 p.m.
    Thank you, Mr Speaker
    and Mr Ricketts-Hagan for this Question.
    Mr Speaker, for the 2021 Eurobond, the five
    co-managers (local) used were Fidelity Bank,
    Databank, IC Securities, Temple Investment

    Oral Answers to Questions

    and Cal Bank while CQ Legal and K&K Legal

    were the two local legal advisors.

    The five local transaction advisors were

    each paid US$166,375.00 (Gross) while the

    two local legal advisors were each paid

    US$75,000.00. In all, a total of US$981,875.00

    (Gross) was paid to local transaction advisors

    in 2021, which is 0.0325 per cent of the total

    amount of US$3.025 billion raised.
    Mr Second Deputy Speaker 3:08 p.m.
    Hon
    Member for Cape Coast South, any further
    question?
    Mr Ricketts-Hagan 3:08 p.m.
    Mr Speaker, from the
    Hon Minister's Answer, almost US$1 million was paid to these local transaction advisors and
    legal advisors. However, up until 2016, they
    were paid a flat fee of US$50,000. Their role is
    basically to build capacity, and that has not
    changed. So I would want to find out from the
    Hon Minister why they are now not being paid
    the flat rate of US$50,000 but are rather being
    paid US$166,000. This is because they are not
    the lead managers nor are they the book
    runners. They are neither the billing and
    delivery agent nor the duration managers. They
    do not play any role in the issuance and
    marketing of the bond. That is all done by the
    international transaction advisors. So why are
    the locals being paid this amount of money
    instead of the flat fee of US$50,000 that they
    used to receive in the past?
    Mr Ofori-Atta 3:08 p.m.
    Mr Speaker, it is a really
    good and important question. It is important
    that we pay the international advisors, as he
    said, over US$1 million in these transactions. I
    remember in 2007 when we went for the first
    issuance abroad and the Hon Ministers and
    civil servants were admiring the buildings that
    we were in for the international advisors, I
    asked them that if we keep paying the
    US$50,000 to our local advisors, when would
    they grow and get the capacity to become those
    big banks? This and others are the fundamental
    questions that enable us to grow our
    institutions.
    So, Mr Speaker, yes, we changed it from a
    flat fee and almost tripled it from what it was.
    It is a good reason for us to be clear and
    deliberate in how we support local companies
    for them to grow to become as big as those
    companies that we choose to admire.
    Mr Speaker, thank you.
    Mr Second Deputy Speaker 3:08 p.m.
    Yes, Hon
    Member your last supplementary question?
    Mr Ricketts-Hagan 3:08 p.m.
    Mr Speaker, as I
    indicated early on about the roles that the
    international transaction advisors play, I would
    want to find out the role Fidelity Bank,
    Databank, IC Securities, Temple Investment
    and Cal Bank play in the issuance of Eurobond
    apart from capacity building.
    Mr Ofori-Atta 3:18 p.m.
    I believe the issue that the
    Hon Member is talking about goes to the heart
    of how we develop our capital market to be
    equivalent to those people who keep advising
    us on the things we do.

    I think that by being able to reward them a

    lot more, they are able, beyond the capacity

    building on the local front, to also send their

    employees into certain internships abroad so

    that they can do more on the advisory side.

    Oral Answers to Questions

    Mr Speaker, when we get into these

    transactions, the more knowledgeable your

    local advisors are, the better you are able to

    negotiate when it comes to the floor and

    pricing. And this becomes areally intrinsic part

    of the transaction. So, this leads to the type of

    knowledge that may reduce your coupon rate

    from 8.025 to 8 per cent which results in

    considerable savings when we go forward.

    But I think we should also have clarity on

    the deliberateness in building these companies

    to be able to replace these international

    advisors and the only way to do that is to give

    them more resources for them to continue to be

    confident when we get to the market. There is

    a lot of confidence at play and a lot of lead to

    know, and that is what we have to do if we are

    going to turn these places into an international

    hub for financial service.
    Mr Second Deputy Speaker 3:18 p.m.
    Hon
    Member for Cape Coast South, you may turn
    to Question 384, your second substantive
    Question.
    Proceeds from 2021 Eurobond and Fees on
    Roadshow Expenses
    Mr George Kweku Ricketts-Hagan
    (NDC - Cape Coast South): Mr Speaker, I beg to ask the Minister for Finance how much
    Government realised (net proceeds) from the
    Eurobond issued in 2021, and how much it has
    spent on fees and related roadshow expenses.
    Minister for Finance (Mr Ken Ofori-
    Atta): Thank you very much, Mr Speaker.
    Mr Speaker, a total amount, face value, of
    US$3.025 billion was raised with proceeds of
    US$2.883 billion as some of the bonds were
    issued below par value (discounted price,
    which is approximately US$142 million).
    Mr Speaker, an amount of US$8.84 million
    was spent as fees and expenses on the 2021
    Eurobond transaction paid to the 5 Joint Lead
    Managers and 1 International Counsel
    (US$7.86 million) and 5 Local Co-managers
    and 2 Local Counsels (US$0.98 million). The
    Joint Lead Managers (JLMs) for the 2021
    Eurobond transaction were Bank of America,
    Citibank, RMB Bank, Standard Chartered
    Bank, and Standard Bank. The International
    Counsel is White & Case. The five (5) Co-
    managers (local) used were, Fidelity Bank,
    Databank, IC Securities, Temple Investment
    and Cal Bank, while CQ Legal and K&K Legal
    were the two (2) local legal advisors.
    Mr Second Deputy Speaker 3:18 p.m.
    Thank you
    very much. Yes, Hon Ricketts-Hagan?
    Mr Ricketts-Hagan 3:18 p.m.
    Thank you, Mr
    Speaker.
    The Hon Minister's Answer, both the verbal and written, do not answer the last part
    of my Question. The figures he has given — and the last part of my Question has to do with
    related roadshow expenses.
    The figures the Hon Minister has here is
    US$8.84 million, which relates US$7.86
    million of to international transaction advisers
    and counsel, and US$0.98 million relates to
    local advisers and counsel, which sum up
    US$8.84 million. It does not answer the bit
    about the roadshow cost for Government and
    the Bank of Ghana. How much did the

    Oral Answers to Questions

    Government delegation that went on the

    roadshow spend? It is not covered here.
    Mr Ofori-Atta 3:18 p.m.
    Thank you very much, Mr
    Speaker.
    Mr Speaker, the beauty or some of the good
    results of the COVID-19 year was that we all
    did a lot of things by Zoom. So, amazingly, that
    was one of the years in which by sitting at
    Kempinski Hotel, we were able to complete a
    virtual roadshow. That is why the expenses are
    negligible.
    Mr Second Deputy Speaker 3:18 p.m.
    Yes, Hon
    Member, you may ask your last supplementary
    question —
    Mr Kyei-Mensah-Bonsu — rose —
    Mr Second Deputy Speaker 3:18 p.m.
    Yes, Hon
    Majority Leader?
    Mr Kyei-Mensah-Bonsu 3:18 p.m.
    Mr Speaker,
    pursuant to time management, you said we are
    going to restrict the Questions to Hon Members
    who are asking the Questions. There cannot be

    Please, with respect, if the Hon Member is

    asking the Question, let him so do. If he is not,

    let us move to the next Question, respectfully.
    Mr Second Deputy Speaker 3:18 p.m.
    Yes, Hon
    Deputy Minority Whip?
    Mr Ahmed Ibrahim 3:18 p.m.
    Mr Speaker, with
    deference to the chair and my Hon Majority
    Leader, one Question is one Question.
    [Laughter] The one who is asking is just — the content. So whether Mr Adongo asks or Mr
    Ricketts-Hagan asks, the question is one. So
    we can manage the time.
    Mr Second Deputy Speaker 3:18 p.m.
    Mr Adongo,
    let us listen to you.
    Mr Isaac Adongo 3:18 p.m.
    Thank you very much
    Mr Speaker.
    I would like to ask the Hon Minister for
    Finance how much he has paid himself through
    his company called Databank in fees and
    charges. He did not state that to us —
    Mr Second Deputy Speaker 3:18 p.m.
    Hon
    Member, the question is not admissible.
    Mr Isaac Adongo 3:18 p.m.
    Mr Speaker, can I
    change my question?
    An Hon Member 3:18 p.m.
    Mr Speaker, can he
    rephrase it?
    Mr Isaac Adongo 3:18 p.m.
    Mr Speaker, does the
    Hon Minister know any of the companies as a
    company he has shares in that the Ministry of
    Finance is paying fees and charges to as
    transactional advisers?
    Mr Second Deputy Speaker 3:18 p.m.
    Hon
    Minister, you may, if you are minded to,
    respond to the question. Else, Hon Member,
    you may have to file a substantive Question

    Oral Answers to Questions

    No, Hon Members, would you please listen

    to me? This is a House of records, if the Hon

    Minister is not with the figures, why should he

    come and guess —

    So please, I would entreat the Hon Member

    to file a substantive Question if you are

    desirous —
    Mr M. M. Ibrahim 3:18 p.m.
    Mr Speaker, are you
    saying that the Hon Minister does not know a
    company he has shares in? He has no idea
    about his own investments? He should just tell
    me that.
    Mr Second Deputy Speaker 3:18 p.m.
    Hon
    Member —
    Mr Kyei-Mensah-Bonsu 3:18 p.m.
    Mr Speaker,
    [Interruption] I do not know the import of this
    question. Mr Adongo knows the company. So,
    if he is asking if the Hon Minister knows the
    company, I know the company called
    Mr Isaac Adongo 3:18 p.m.
    I do not know —
    Mr Kyei-Mensah-Bonsu 3:18 p.m.
    And Mr
    Speaker, with respect, the Company's Act that this honourable House just passed enables any
    one of us to go the Registrar-General to inquire
    about the shareholding. [Interruption]And that

    Mr Adongo, you are required to know that.

    This is an abuse of our processes and

    procedures. Can we move on? —
    Mr Second Deputy Speaker 3:28 p.m.
    Hon
    Members, the question is not admissible. Let
    us move on.
    We would now turn to the Question
    numbered 385 which stands in the name of the
    Hon Member for Tamale Central. We have
    now come to you, Hon Member. Ask your
    Question.
    Revenue Generated from Sale of Power to
    Neighbouring Countries
    Mr Murtala Muhammed Ibrahim (NDC
    - Tamale Central): Thank you, Mr Speaker.

    Mr Speaker, I beg to ask the Minister for

    Finance how much revenue the State generated

    from the sale of power to neighbouring

    countries?
    Mr Second Deputy Speaker 3:28 p.m.
    Hon
    Minister, you may answer Question 385.
    Mr Ofori-Atta 3:28 p.m.
    Mr Speaker, the revenues
    from Volta River Authority (VRA)'s export of
    power to neighbouring countries are retained
    by VRA. We respectfully propose that the
    Ministry of Energy is invited to respond to this
    Question.
    As the Minister for Finance, I keep an eye
    on some of these numbers. I believe in the past
    three years, they might have got about US$140
    million a year, but I think the Ministry of
    Energy can give you the full numbers.
    Mr M. M. Ibrahim 3:28 p.m.
    Mr Speaker, this
    House is a House of records, and not a House
    of conjecture. The Hon Minister said that “they

    Oral Answers to Questions

    might have”. We need a certain Answer, and my Question is absolutely unambiguous — [Interruption] [Dr Stephen Amoah: Hon
    Mr M. M. Ibrahim 3:28 p.m.
    I would like to know
    specifically— Mr Speaker, this Hon Gentleman ought to be tamed — [Laughter] I have the right to ask questions. I understand his
    challenges; he has just come, but he would
    need to sit and learn. He is doing this — [Interruption] — Mr Speaker, if my Hon Friend cares to know, post no asa; to wit, the
    positions are finished. They have finished
    appointing Deputy Ministers so he should just
    sit down.
    Mr Speaker, I need a response. My
    Question is absolutely unambiguous, so if the
    Hon Minister tells us that “they might have”, this is not a House of conjecture. We need
    specific Answer, and I would want him to tell
    us. If he does not know, I understand. If he does
    not have the Answer now, he should tell this
    House, but he cannot tell us that “they might have”. With all due respect, Hon Minister, this is not a House of conjecture, but a House of
    records.
    Mr Kyei-Mensah-Bonsu 3:28 p.m.
    Mr Speaker,
    Question 385 has been asked. It reads:
    “To ask the Minister for Finance how much revenue the State generated from
    the sale of power to neighbouring
    countries.”
    The Hon Minister responded that the revenues from VRA's export of power to neighbouring countries are not paid to the Consolidated Fund, but VRA's account. The superintending Ministry is the Ministry of
    Energy, so the Hon Minister said that: “We respectfully propose that the Ministry of Energy is invited to respond to this question.” This means that the Hon Member's Question was misdirected. Thus, the Hon Minister just proffered an opinion that, that is what maybe, the total was.
    However, Mr Speaker, our Standing Orders
    are clear, and Order 62(1) provides:
    “Questions may be asked of Ministers relating to public affairs with which they are officially connected, proceedings pending in Parliament or any matter of administration for which such Ministers are responsible.”
    The Hon Minister said that he is not
    officially connected with that, so, you may guillotine this, and we would move on. It means that he is not responsible for this Question, so he went on to suggest that the Ministry of Energy is the one responsible. The Hon Member should please so direct his Question. That is how it is.
    Mr Speaker, so could you call the Hon Minister for Finance? Has the Hon Member not completed his Question? Why is he getting up again?
    Mr Second Deputy Speaker 3:28 p.m.
    Hon
    Majority Leader, the Hon Minister is desirous to even say something.
    Mr Ofori-Atta 3:28 p.m.
    Mr Speaker, I believe the
    issues of cordiality and mutuality of respect are very important. I was very clear that Question 385 is for the Ministry of Energy. As respected Hon Members, I then let you know what I thought those numbers were, but I find it quite abusive the way in which the response was

    Oral Answers to Questions

    made. I believe if we are to continue like this, and also to encourage each other for me to be coming to the House more — already, the Rt Hon Speaker has given my Ministry clearance that we could have the Minister of State at the Ministry of Finance, and the Deputy Ministers do that because of the enormity of the work that the Ministry of Finance does.

    It would be very discouraging if a sense of

    hostility is maintained. That is how I feel about

    it. It may be different from how you feel about

    that. That was just to offer respectful

    information so that even as you leave, you

    would get a sense of what those numbers are,

    but to be thrown back and abused at it is

    unfortunate. I look forward to a lot more

    cordiality as we move forward.

    Thank you very much, Mr Speaker.

    Mr Isaac Adongo — rose—
    Mr Second Deputy Speaker 3:28 p.m.
    Mr Adongo,
    why are you up?
    Mr Isaac Adongo 3:28 p.m.
    Mr Speaker, I do not
    know who is hostile to him. If a Question is
    asked, and the Hon Minister is not comfortable
    with it, that is not hostility. It is as simple as
    that. I posed a question that I believe is of
    interest to me. If the Hon Minister is not
    comfortable to answer it because it is not a
    Question he ordinarily wants to be asked, it is
    not hostility, so let that be put on record that
    nobody is hostile to him. We just ask the
    questions that we are mandated by our
    constituents to ask the Hon Minister, and he is
    not answering them.
    Mr Second Deputy Speaker 3:28 p.m.
    Very well,
    let us hear you, Hon Murtala Ibrahim. This
    would be your last supplementary question.
    Mr M. M. Ibrahim 3:28 p.m.
    Mr Speaker, we
    decided, as a country, to chart the path of
    democracy, and in doing so, it comes with
    some conditions. As a matter of fact, for the
    avoidance of doubt, in a democracy, the
    legislative arm, is one of the most important
    arms of government. It is essential that we have
    a moral duty and the responsibility to hold the
    Executive accountable, and one of the most
    important ingredients of democracy is
    transparency and accountability. No one has
    any interest of being hostile towards anybody.
    We are simply asking —
    Mr Second Deputy Speaker 3:28 p.m.
    Hon
    Member, that issue has been addressed by Hon
    Adongo so just go on with your question,
    please. —
    Mr M. M. Ibrahim 3:28 p.m.
    Mr Speaker, it was not
    Mr Adongo's Question, but mine, so he cannot address my Question for me. The only person
    who is supposed to address my Questions, by
    the Standing Orders and the Constitution, is the
    Hon Minister who is here.
    I would like to tell the Hon Majority Leader
    that the Hon Minister could have stopped there
    because I was not holding a dagger before him
    to tell us that it might have been US$140
    million. That was why I asked the further
    question. If he did not have the answers, he
    could have told us that he did not. Perhaps, the
    only challenge we would have had, would have
    been the timing, but for him to provide that
    response, and for the Hon Majority Leader to
    say that the Hon Minister was giving an
    opinion - this is not a House of opinions, but a

    Oral Answers to Questions

    House of facts. We are not here to entertain

    opinions; we are here to get facts for and on

    behalf of the people we represent. The people

    of Tamale Central expect a response from the
    Mr Second Deputy Speaker 3:28 p.m.
    Hon
    Member, enough with that. Did you not ask
    any question?
    Mr M. M. Ibrahim 3:28 p.m.
    My question is very
    simple. The Hon Minister is the one who
    manages the finances of this country, therefore,
    whichever Agency or Ministry that takes that
    supervisory role accounts to him at the end of
    the year. Thus, he should be able to tell us how
    much they generated, but he said “they might have.”
    Mr Second Deputy Speaker 3:28 p.m.
    That is why
    the Leader of the House has given us the
    directive, per Standing Order 62(1). The
    Ministry responsible for power and its related
    matters is the Ministry of Energy. The Leader
    of the House has given us a cue, so let us abide
    by it, and move on.
    Mr Ibrahim Ahmed 3:38 p.m.
    Mr Speaker, this is
    not the first time a Question has been asked,
    and it has to be redirected to the appropriate
    Ministry, so I do not see why we should
    belabour that point. However, I could see that
    the Hon Minister for Finance is probably tired.
    Well, he has been here since morning.

    He read a Statement and he went ahead to

    answer Questions. Even the chair on which he

    sits has been changed. Perhaps, out of the

    stress, he made that comment concerning

    hostility which is unparliamentary. Standing

    Order 93(2) is clear that, “It shall be out of order to use offensive, abusive or unbecoming

    words…” The best word that we use for each other here is, “the Hon Gentleman.” Therefore, Hon Members, who should refer to one another

    as “Hon Gentleman,” should not use offensive words.

    Mr Speaker, Parliament does not end here;

    we are Hon Members of Parliament, and we

    would do Business with the Hon Minister for

    Finance up to the end of this Eighth Parliament.

    Hence, if that portion of his statement is what

    is generating this, then, you may direct that the

    comment be expunged from the records. Today

    is a special day; we are on Facebook Live and

    everybody is watching. If that happens

    between us and our Hon Minister for Finance,

    I do not think it is good of us. However, I

    would like to plead with my Hon Colleague,

    Mr Murtala Muhammed Ibrahim, that the door

    is not closed yet. He could still redirect his

    Question if that is the fact that he would like to

    have.

    The Hon Minister could as well have said

    that he did not have the Answer with him, and

    that he would get it for the Hon Member

    subsequently. However, since the Hon

    Minister for Finance said that the Answer lies

    within the purview of the Hon Energy

    Minister, I think that it is only a matter of the

    Hon Member redirecting his Question. Let us

    allow sleeping dogs to lie; let us end it there.

    Mr Speaker, I, however, would like to plead

    with you to direct that the portion of the Hon

    Minister's statement on “hostilities” should be expunged from the Hansard — [Interruption] The Hon Member raised an objection that the

    Hon Minister has said that they have been

    hostile to him, which they do not agree with, as

    Oral Answers to Questions

    they are only doing their lawful parliamentary

    duties. It is clear that by Standing Order 93(2),

    the conduct of Hon Members and even Mr

    Speaker cannot be raised. Therefore, I am not

    happy with the portion of the Hon Minister's comment.

    Mr Speaker, if the Hon Minister is tired,

    you may suspend the House. Truly, he has been

    sitting since morning, and I believe that

    sometimes, when one is tired, anything goes.

    That is my plea —
    Mr Kyei-Mensah-Bonsu 3:38 p.m.
    Mr Speaker, I
    believe that to be fair to the Hon Minister, if
    the Hon Deputy Minority Whip is appealing
    that the use of the language involving the
    expression, “hostility”, is unfriendly to the House, and that it must be withdrawn, in equal
    measure, as he is an elder of the Church of
    Pentecost, he should have told his Hon
    Colleague that, it is also offensive to say to the
    Hon Minister that is he holding a dagger on
    him — [Interruption]. Did you not hear that? [Uproar]
    Mr Speaker, in fairness, and to be truthful
    to ourselves, we should not just hold a one-
    edged sword; it should be double-edged to
    clear the weeds on both Sides. Uproar] I think
    that we can move on. I would like to plead that
    as the Hon Minister has indicated that there are
    some meetings that are be to be held in his
    office, which have been kept on hold since 2.00
    p.m., he may be allowed to attend those
    meetings.
    I think the Questions have been listed, and
    the Answers have been given. By our Standing
    Orders, indeed, one hour after Question time,
    Questions that are not answered should just be
    printed and given to the Hon Members who
    asked them. However, we have the Hon
    Deputy Minister for Finance here, so I believe
    that he could answer the outstanding Questions
    while we allow the Hon Minister to exit and
    attend to those other businesses.
    Mr Speaker, I thank you.
    Mr Second Deputy Speaker 3:38 p.m.
    Hon
    Members, I believe, before the Hon Majority
    Leader came in, the Hon Deputy Minority
    Leader agreed, and indeed, both Caucuses
    agreed, that the Hon Minister for Finance has
    been here since morning, and that I should
    relieve him to attend other meetings while the
    Hon Deputy Minister holds the fort to answer
    the rest of the Questions — I believe that is what has already been agreed on, and I was
    informed by the Leadership —
    Mr A. Ibrahim 3:38 p.m.
    Mr Speaker, I heard you
    say, we have agreed, but I did not say so. What
    I said was that the Hon Minister for Finance
    has been here since morning, and therefore,
    perhaps, he had used that expression out of
    stress —
    Mr Second Deputy Speaker 3:38 p.m.
    Hon
    Member, you were not here at the time this was
    agreed upon, and I am not making reference to
    you. I said it was agreed upon when Hon
    Avedzi was in the Chamber; you were not here
    at the time. It is a decision that has been taken
    by the Leadership.
    Mr A. Ibrahim 3:38 p.m.
    Mr Speaker, indeed, the
    Hon Minister has been here since morning, but
    to say he is leaving this work to go and
    continue work somewhere else is what I do not
    agree with. This is a very important work.

    Oral Answers to Questions

    What can be more important than parlia-

    mentary activities?
    Mr Second Deputy Speaker 3:38 p.m.
    Hon
    Member, by our Standing Orders, we are not
    supposed to continue beyond one hour. We
    have spent almost two hours on Question time
    so, it is either we suspend or we ask the Hon
    Minister to take leave of us while the Hon
    Deputy Minister takes the rest of the Questions
    — I cannot assure when he would come back; that would be the duty of the Business
    Committee.
    My directive is that I relieve the Hon
    Minister for Finance, and request the Hon
    Deputy Minister, who is one of us, to take the
    seat to respond to the rest of the Questions.
    Already, this morning, that prayer was made to
    the House, and the Rt Hon Speaker admitted
    that the Hon Minister of State at the Ministry
    of Finance or the Hon Deputy Ministers could
    take charge of the duties of the Hon Minister
    for Finance in this House if he not available.
    On that note, Hon Minister, on behalf of the
    House, I would like to thank you very much for
    attending upon the House to respond to various
    Questions, and to make a Statement to the
    House, and for that matter, the nation. We are
    grateful to you, and wish you well. You are

    We would move to the Question numbered

    386, which stands in the name of the Hon

    Member for Okaikwei North, Ms Theresa

    Awuni. Hon Member, you may ask your

    Question.
    Ms Theresa Lardi Awuni 3:38 p.m.
    Mr Speaker, I
    thank you for the opportunity, but honestly, my
    Question has been in this House for close to six
    months. Therefore, in all fairness, the Hon
    Minister should have answered my Question
    before leaving.
    Mr Second Deputy Speaker 3:38 p.m.
    My Hon
    Sister, the Answer has already been provided.
    Or do you need him here?
    Ms Awuni 3:38 p.m.
    I need the Hon Minister for
    Finance to answer my Question, but, I would
    still ask it.
    Total Proceeds from Government
    Bonds since 2017
    Ms Theresa Lardi Awuni (NDC - Okaikwei North) 3:38 p.m.
    Mr Speaker, I beg to ask the
    Minister for Finance how much was raised in
    total from government bonds since 2017, who
    the transaction advisors and book runners were
    since 2017, and how much was paid to each of
    the transaction advisors and book runners since
    2017.
    Mr Second Deputy Speaker 3:48 p.m.
    Is this
    not the same Question that has been asked?
    Some Hon Members 3:48 p.m.
    Mr Speaker, no.
    Mr Second Deputy Speaker 3:58 p.m.
    Very well.
    Hon Deputy Minister for Finance, you
    may answer the Question.
    Deputy Minister for Finance (Dr
    John Ampontuah Kumah) (on behalf of
    the Minister for Finance): Mr Speaker,
    the Government of Ghana (GoG) launched
    the domestic bond issuance programme in

    Oral Answers to Questions

    2015 under the name Adinkra Program.

    The Joint Book Runners (JBR) were

    Barclays, Stanbic, and Strategic Africa

    Securities (SAS). The mandate was for two

    years. In 2015, GH₵517 million was raised and 0.5 per cent was paid to the JBR. In

    2016, GH₵4.4 billion was raised and fees of 0.48 per cent was paid.

    In 2017, the Government, through the

    Ministry of Finance (MoF), renewed the

    engagement with the three JBRs namely,

    Barclays Bank Ghana (now Absa Bank),

    Stanbic Bank Ghana and Strategic African

    Securities, under a two-year mandate as

    JBRs. The JBRs were to advise and arrange

    the issuance and marketing of all

    Government of Ghana's longer-dated Bonds (two years and above), through the

    book building approach adopted by

    Ministry of Finance (MoF) in the year

    2015.

    Mr Speaker, in 2017, a total amount of

    GH₵17.3 billion in three, five, seven, 10 and 15-year local currency Government

    bonds and US$221.4 million in domestic

    USD-denominated Government bonds

    were raised from the domestic market with

    the assistance of the JBRs. The cedi

    equivalent of US$221.4 million, converted

    at the average exchange rate of GH₵4.5 to US$1.00 amounted to GH₵1 billion plus the local currency component of GH₵17.3 billion, brings the total amount raised in

    2017 to GH₵18.3 billion from the issuance of Government bonds.

    An amount of GH₵30.41 million was paid to each JBR, totalling GH₵91.24 million in 2017 which is 0.5 per cent of the

    total amount raised. In 2018, the

    Government, after the first mandate of the

    JBRs had expired, selected five firms

    namely; Barclays Bank Ghana, Databank,

    Fidelity Bank, IC Securities and Stanbic

    Bank Ghana as the new JBRs through an

    evaluation process. The decision to

    increase the JBRs to five was in response

    to the deepening of the market and the need

    to increase the marketing and selling of

    GoG bonds across a wider investor base.

    Mr Speaker, Government raised a total

    amount of GH₵10.57 billion in two, three, five, seven and 10-year local currency

    bonds through a combination of new

    issuances and bond re-openings. An

    amount of GH₵52.84 million was paid as fees to the JBRs, where each received

    GH₵10.57 million in 2018. This was approximately 0.5 per cent of the amount

    raised.

    Mr Speaker, in 2019, a total amount of

    GH₵9.88 billion in the medium to longer dated bonds was raised. A fee of GH₵9.88 million was paid to each JBR totalling

    GH¢49.42 million for the five JBRs

    engaged in 2018. This makes 0.5 per cent

    of the amount raised.

    In 2020, the five JBRs executed 20 new

    transactions across the two-year to seven-

    year tenors and re-opened the 20-year

    bond. These transactions cumulatively

    raised about GH₵16.6 billion in local

    Oral Answers to Questions

    currency Government bonds, and

    US$388.9 million in domestic USD-

    denominated treasury bond. A total amount

    of GH₵18.78 billion was raised and each JBR was paid GH₵18.83 million, totalling GH₵94.14 million, which constitutes 0.56 per cent of the total amount raised.

    The performance of the JBRs was

    against the backdrop of a seriously

    challenged macro-fiscal environment and

    tighter financing conditions induced by the

    COVID-19 pandemic which muted

    offshore demand for local currency

    issuances leaving local investors to take up

    a large proportion of the year's Treasury's financing operations.

    In May 2021, based on the new Primary

    Dealers (PDs) and Bond Market

    Specialists (BMS) Guidelines, Govern-

    ment selected new PDs out of which, nine

    institutions were given the mandate as

    BMS to be in charge of the book-building

    process.

    The nine institutions were Stanbic

    Bank, Ecobank, Absa Bank, GCB Bank,

    Cal Bank, Fidelity Bank, IC Securities,

    Databank and Blackstar Brokerage. From

    May 2021 to December 2021, they raised a

    total amount of US$13,818.73 billion in

    two-year to seven-year bonds, 10-year

    bond and a tap-in of a six-year bond. They

    undertook a five-year US dollar bond of

    US$168.98 million.

    Mr Speaker, on the external front, the

    Government in 2017 did not embark on any

    Eurobond transaction. However, the

    Government in 2018 procured the services

    of the under listed transaction advisors to

    raise an amount of US$2.0 billion in 10-

    year and 30-year Eurobonds:

    • four International Lead Managers

    (JP Morgan, Bank of America,

    CITI Bank and Standard Chartered

    Bank);

    • three local transaction advisors

    (Fidelity bank, Databank and IC

    securities);

    • White & Case was procured as the

    International Legal advisor; and

    • JLD & MB, Bentsi Enchill and

    LETSA were procured as the local

    legal advisors.

    Mr Speaker, the four International

    transaction advisors procured were each

    paid US$2,030,513 whiles each of the

    three local transaction advisors were paid

    US$375,000 and the three local legal

    advisors each paid US$90,000.00. The

    International Legal advisor was paid

    US$379,159.24. The total amount paid the

    transaction advisors (foreign and local)

    was US$9.89 million, which is 0.49 per

    cent of the amount raised.

    In 2019 and 2020, the Government

    raised a total of US$3.0 billion in each

    year. From 2019, the Government took a

    proactive stance to build the capacity of

    domestic financial institutions with

    Oral Answers to Questions

    exposure and skill for future active roles in

    our Eurobond transactions. In view of this,

    Government for the 2019 and 2020

    transactions procured the services of three

    local co-managers (Fidelity, DataBank,

    and IC Securities) and two sub co-

    managers (GCB and SAS Investment). For

    the issuance, they worked alongside the

    five international lead managers, White &

    Case as the international legal advisor, JLD

    & MB and CQ Legal as the local legal

    advisors.

    Mr Speaker, the five International

    transaction advisors procured were each

    paid US$1,555,000 whiles each of the

    three local transaction advisors were paid

    US$375,000. Each sub co-manager was

    paid US$50,000, the international legal

    advisor was paid US$399,661.94 and the

    two local legal advisors, were each paid

    US$75,000.00.

    In all, a total of US$9.55 million and

    US$9.7 million was paid to International

    Transaction Advisors, International Legal

    Advisors, Local Transaction Advisors, sub Co-

    Managers and the Local Legal Advisors in

    2019 and 2020 respectively, which is 0.3 per

    cent of the total amount raised in 2019 and

    2020.

    Mr Speaker, Government, once again for

    2021, took a proactive stance to procure all the

    necessary transaction advisors (International

    Joint Lead Managers (JLMs), Local & Legal

    Advisors) required for the Eurobond

    programme. The five International Joint Lead

    Managers procured were Standard Chartered

    Bank, RMB Bank, Standard Bank, Bank of

    America and CITI Bank. The five Local

    Transaction Advisors procured were, Fidelity

    Bank, Databank, IC Securities, Temple

    Investment and Cal Bank. White & Case was

    procured as the International Legal Advisor

    while CQ Legal and K&K Legal were procured

    as the two local legal advisors.

    The five International Joint Lead Managers

    were each paid US$1,497,375.00; the five

    Local Transaction Advisors procured were

    each paid US$166,375.00; the International

    Legal Advisor was paid US$375,000.00 while

    the two Local Legal Advisors were each paid

    US$75,000.00 to raise a total amount of

    US$3,025,000,000.00. In total, the Inter-

    national and Local Transaction Advisors were

    paid US$8,843,750.00, which is 0.29 per cent

    of the amount raised.

    I thank you, Mr Speaker.
    Mr Second Deputy Speaker 3:58 p.m.
    Thank you
    very much. Hon Member, I think this is an
    elaborate Answer. Do you still have supple-
    mentary questions?
    Ms Awuni 3:58 p.m.
    Thank you, Mr Speaker. Yes,
    indeed, it is very elaborate, hence my follow-
    up question. What was the mode of selection
    for the transaction advisors and book runners
    for the international bond issuance in 2018 and
    2019?
    Dr Kumah 3:58 p.m.
    Thank you, Mr Speaker. This
    was done by an international competitive
    bidding process and an open evaluation
    process.

    Oral Answers to Questions
    Mr Second Deputy Speaker 3:58 p.m.
    Hon
    Member, you may ask your last supplementary
    question.
    Ms Awuni 3:58 p.m.
    Mr Speaker, although the Hon
    Deputy Minister's answer was not satisfactory because I did not really understand what he
    said, I would go ahead and ask my second
    supplementary question — [Interruption] — I said I did not understand what he said, so I
    would like him to repeat the answer he gave.
    [Interruption] Mr Speaker, let me go on — [Interruption] — No, it is all right. He is not prepared to answer the question.
    Does the Hon Minister not feel that he finds
    himself in a conflict-of-interest situation, given
    that he is the one who makes the decision on
    bond issuance, and his firm, Databank, is the
    book runner and transaction advisor for the
    bond issuance?
    Mr Second Deputy Speaker 3:58 p.m.
    Yes, Hon
    Deputy Minister?
    Dr Kumah 3:58 p.m.
    Mr Speaker, thank you. As far
    as we are concerned, there is no conflict of
    interest in this situation. Databank has been
    involved in almost all international
    transactions in the Eurobond as far as Ghana is
    concerned. Even when our Hon Friends from
    the National Democratic Congress (NDC)
    were in Government, Databank was part of
    Eurobond transactions, and they will continue
    to be part of our Eurobond transactions. So, we
    do not see the conflict.

    Thank you, Mr Speaker.

    Mr Isaac Adongo — rose —
    Mr Second Deputy Speaker 3:58 p.m.
    Mr Adongo,
    do you not think that we have had enough?
    Mr Adongo 3:58 p.m.
    I want to know the specific
    Eurobond issuance that Databank was
    involved in in our time. Could the Hon Deputy
    Minister give us one —
    Mr Second Deputy Speaker 3:58 p.m.
    Hon
    Members, we will move to Question numbered
    675.
    Mr Kyei-Mensah-Bonsu — rose —
    Mr Second Deputy Speaker 3:58 p.m.
    Hon Leader,
    can we move on, please?
    Mr Kyei-Mensah-Bonsu 3:58 p.m.
    Mr Speaker, we
    can move on, and we must move on. I think we
    should respect the rules of this House. The Hon
    Member should not sit down and throw his
    hands up in the air and ask questions. I think
    that Rt Rev Adongo is too much of a Senior in

    Mr Speaker, could we move on to the next

    Question, please?
    Mr Second Deputy Speaker 3:58 p.m.
    Hon
    Members, we will move to Question numbered
    675, and it stands in the name of the Hon
    Member for Nsawam-Adoagyiri, Mr Frank
    Annoh-Dompreh. Hon Member, you may ask
    your Question now.
    2022 Budget to address ussues Increased
    Taxes, Increased Fuel Prices, and
    Unmaintained Roads
    Mr Frank Annoh-Dompreh (NPP — Nsawam-Adoagyiri) 3:58 p.m.
    Mr Speaker, I beg to ask
    the Hon Minister for Finance how the 2022

    Oral Answers to Questions

    budget will ensure that all the major issues of

    increased taxes, increased fuel prices and

    unmaintained roads which were raised during

    the course of 2021 will be tackled efficiently.
    Dr Kumah 3:58 p.m.
    Thank you, Mr Speaker, and I
    thank the Hon Member, Mr Frank Annoh-
    Dompreh, for the Question.
    Mr Speaker, Government has proposed the
    passage of a number of new tax measures as
    part of the 2022 Budget. Based on the
    expectation of revenues from E-Transaction
    Levy and other sources, budget allocation has
    been made to support road infrastructure
    development as well as improvement in public
    transportation, including purchase of high-
    capacity buses.
    The new tax increases would support the
    drive towards raising the tax-to-GDP ratio to
    align with our Ghana Beyond Aid target of 20
    per cent and also reduce the amount of
    borrowing required to meet our developmental
    obligations.
    Mr Speaker, the ‘YouStart' programme will also complement these policies and initiatives
    to promote entrepreneurial activities and
    provide jobs, particularly for the youth.
    Altogether, this is expected to lead to an
    increase in economic activities and contribute
    to the reduction in the cost of living as incomes
    are earned and output is produced.
    I thank you, Mr Speaker.
    Mr Second Deputy Speaker 3:58 p.m.
    Hon
    Adongo, are you leaving? [Laughter] I would
    be expecting you back.
    Yes, any further question, Hon Majority
    Chief Whip?
    Mr Annoh-Dompreh 3:58 p.m.
    Yes, indeed, Mr
    Speaker. If you would permit me, I would read
    portions of the last paragraph of the Hon
    Minister's Answer.
    “The ‘YouStart' programme will also complement these policies and initiatives to
    promote entrepreneurial activities and provide
    jobs, particularly for the youth”.
    The phrase “jobs for the youth” is a curious one for me. I wish to know from my Hon
    Colleague, the Deputy Minister, what
    conservative figures we have in mind in terms
    of the youth who stand to benefit from the
    ‘YouStart' programme, and if he could elucidate more on the ‘YouStart' as a policy of Government.
    I thank you, Mr Speaker.
    Mr Second Deputy Speaker 3:58 p.m.
    Yes, Hon
    Deputy Minister?
    Dr Kumah 4:08 p.m.
    Thank you, Mr Speaker.
    Mr Speaker, the YouStart Programme is
    one of the flagship programmes of the
    Government of President Nana Addo Dankwa
    Akufo-Addo to create one million jobs for the
    young people of this country in the next three
    years. At the moment, the programme is at a
    consultative stage; we are doing a lot of
    engagements with stakeholders and I think that
    very soon, we might engage Parliament as

    Oral Answers to Questions

    well. We have already engaged all the 261

    Metropolitan, Municipal and District

    Assemblies (MMDAs) across the country, the

    Ghana Civil Society Organisations (CSOs), the

    media, the Association of Ghana Industries

    (AGI), and all the other youth groups as well.

    So, there is a lot of public buy-in for the

    YouStart Programme for us to address the issue

    of job creation through the private sector on a

    more sustainable basis. So, that is the summary

    of it.

    Mr Speaker, we are also intending to invest

    up to GH₵10billion in the next three years, and GH₵5 billion of the expenditure would be coming from the financial institutions and the

    banks who have agreed to partner with the

    Government. And through the allocation of

    Government's Financial Policy, the Govern- ment would provide GH₵1 billion every year for the next three years. Then our development

    partners are expected to raise the additional

    GH₵2 billion to make up for the GH₵10 billion.

    Mr Speaker, so, this is where we are on the

    YouStart Programme.
    Mr Ahmed Ibrahim 4:08 p.m.
    Mr Speaker, I would
    like to support my Hon Brother, the Majority
    Chief Whip. In paragraph 2, the Hon Deputy
    Minister for Finance is saying that as part of
    the measures, they are aiming at reducing
    borrowing. Meanwhile, currently, we have a
    GH₵1billion loan facility before us; is it that they are no longer interested in that?
    Dr J. A. Kumah 4:08 p.m.
    Mr Speaker, the current
    request before the House was factored as part
    of the Annual 2022 Government's Financial Policy. So, we needed that to fill the fiscal
    space but even looking at that, it is a reduced
    borrowing approach compared to what we did
    last year and the previous years. So, gradually,
    we would come to sustainable levels.
    Mr Second Deputy Speaker 4:08 p.m.
    Hon
    Members, we would now move on to the
    Question numbered 676, which stands in the
    name of Dr Stephen Amoah.
    Plans by Government to reduce debt stock
    Dr Stephen Amoah (NPP — Nhyiaeso) 4:08 p.m.
    Mr Speaker, I beg to ask the Minister for
    Finance the plans the Government has
    established through the Ministry of Finance to
    reduce the debt stock, which stood at 76.1 per
    cent in the first half of this year.
    Dr J. A. Kumah 4:08 p.m.
    Mr Speaker, the debt
    stock of Ghana as a percentage of Gross
    Domestic Product (GDP) performed better
    than earlier publications by Government.
    The Ghana Statistical Service (GSS)
    published the latest GDP figures for 2020 and
    2021 in April, 2022. In the publication, the
    2020 GDP growth was revised upwards from
    0.4 per cent to 0.5 per cent, and the nominal
    GDP also increased. Consequently, the 2020
    debt to GDP ratio which was previously
    published at 76 per cent, has now gone down
    to 74 per cent, indicating a 200-basis point
    reduction. The 2021 GDP growth also
    exceeded target by 100 basis points, from 4.4
    per cent to 5.4 per cent. Additionally, the
    nominal GDP elevated by more than GH₵20 billion. Consequently, the 2021 projected 80.1
    per cent debt to GDP ratio falls to 76.6 per cent,
    indicating almost a 350-point reduction.

    Oral Answers to Questions

    Mr Speaker, for the period between

    January, 2022 to April, 2022, debt develop-

    ments have significantly been impacted by

    price shocks, especially the sharp depreciation

    of the local currency in the first quarter of

    2022. Consequently, the debt Stock of Ghana

    in Ghana Cedis increased from a provisional

    figure of GH₵351.7 billion (January 2022) to GH₵391.9 billion (March, 2022) before moderating to GH₵387.9 billion (April 2022). It moderated because the Bank of Ghana

    (BoG), at its 105th Monetary Policy Com-

    mittee (MPC) meeting, deployed its monetary

    policy tools to combat the exchange rate

    depreciation, and this was enough to moderate

    the nominal debt figures in April 2022.

    Mr Speaker, as a total of GDP, the total

    public debt stock of Ghana increased from 70

    per cent in January 2022 to 78 per cent in

    March 2022, and moderated to 77.2 per cent as

    at the end of April 2022. It is insightful to note

    that this was largely because of the exchange

    rate depreciation. Our internal forecasts

    indicate that if the exchange rate had behaved

    like what happened at the same time in 2021,

    the debt to GDP ratio in April 2022 would have

    been 72 per cent instead of 77.2 per cent.

    Mr Speaker, on the other side, if the debt of

    Ghana is measured in US Dollars, we observe

    that the debt stock reduces from a provisional

    figure of US$58.4 billion (January 2022) to

    US$54.5 billion (April 2022). This indicates

    the effect of exchange rate on debt by

    dynamics and does not in any way indicate that

    the Government borrowed by that margin.

    Mr Speaker, in view of the above, the

    following are the plans to reduce the debt

    stock:

    a. The fiscal consolidation plan of the Government for the medium-term,

    which includes a reduction in discre-

    tionary expenditures by 30 per cent for

    MMDAs for 2022.

    b. Since the COVID-19 pandemic, the domestic primary balance has been

    recording a negative performance and

    by extension indicated debt

    accumulation. The 2022 Govern-

    ment's Financial Policy targets a positive domestic primary balance and

    this is intended to reverse debt

    accumulation.

    c. As stated earlier, exchange rate depreciation affects the size of external

    debt which is recorded in Ghana Cedis.

    With the measures put in place by BoG

    and supported by the Ministry of

    Finance, this stock would stabilise to

    reduce the growth of debt; and

    d. Since 2019, the debt management strategy of the Government for

    reducing debt accumulation included

    setting limits for concessional and

    non-concessional external borrowing.

    We shall continue to pursue this.

    I thank you, Mr Speaker.
    Mr Second Deputy Speaker 4:08 p.m.
    Dr Amoah,
    do you have any supplementary questions?
    Dr Amoah 4:08 p.m.
    Mr Speaker, I would like to
    find out from the Hon Deputy Minister how he
    has been able to manage our relevant primary
    micro indicators comparable to even the giant
    economies where the United States (US)

    Oral Answers to Questions

    inflation rate has gone beyond 370 per cent,

    which is the highest in over 41 years now and

    — [Interruption] —
    Mr Second Deputy Speaker 4:08 p.m.
    Hon
    Member, did I hear the US inflation rate as —
    Dr Amoah 4:08 p.m.
    Mr Speaker, from 1.81 to 8.6.
    So, the percentage increase is way over 300,
    and all the other micro indicators. So, I would
    like to ask the Hon Deputy Minister what they
    did for Ghana's to be at least far below even both the continental and the world averages.
    Mr Second Deputy Speaker 4:18 p.m.
    Very well. I
    am interested in the supplementary question.
    So Hon Deputy Minister, you can answer.
    Dr J. A. Kumah 4:18 p.m.
    Mr Speaker, I want to
    thank Dr Stephen Amoah for the question. Yes,
    globally, increased inflation has become a
    syndrome for COVID-19 recovery and as he
    rightly stated, even in strong economies such
    as the United States of America, inflation has
    shot up to very high levels - sometimes to 40- year levels of inflation and obviously, we are
    also experiencing large inflationary increases
    in our economy.
    Mr Speaker, I think maybe our situation has
    been better because of our previous
    performance. [Hear! Hear!] If you check the
    growth rate and the performance of the
    economy from 2017 to 2019, the pre - COVID- 19 performance of the economy indicated that
    Ghana's economy was on a strong path of growth before the COVID-19 struck. I strongly
    believe that it is because of this strong
    economic foundation that is why we have
    managed to contain the difficulties that have
    come due to the pandemic.
    Mr Speaker, I thank you.
    Mr Second Deputy Speaker 4:18 p.m.
    We would
    turn to Question *677. Anyway, let me — I always want to give opportunity to Leadership.
    Mr Ahmed Ibrahim 4:18 p.m.
    Mr Speaker, thank
    you for the opportunity. I have with me, here,
    the Annual Public Debt Report for the 2021
    Financial year. I know the Hon Deputy
    Minister quoted from this document. On page
    6, paragraph 26, the nominal public debt stock
    as at the end of December 2021 was GH₵351 billion which he quoted. If you proceed, it said
    that it however excluded Financial Sector Cost,
    Energy Sector Cost, Banking Sector Clean-up
    Cost. So, if they are to add all those cost to their
    80.1 per cent, what would it be?
    Mr Second Deputy Speaker 4:18 p.m.
    So, Hon
    Deputy Minister, are you adding?
    Dr J. A. Kumah 4:18 p.m.
    Mr Speaker, I do not have
    the figures immediately to add up so when we
    add up we can communicate it to him.
    Mr Second Deputy Speaker 4:18 p.m.
    Very well.
    We now turn to the Question numbered
    677, which stands in the name of the Hon
    Member for Suhum, Hon Kwadjo Asante.
    Mr Paul A. Twum-Barimah 4:18 p.m.
    Mr Speaker,
    my Hon Colleague is not around and he has
    authorised me to ask the Question on his behalf

    Oral Answers to Questions

    so with your leave, may I go ahead to ask the

    Question on his behalf?
    Mr Second Deputy Speaker 4:18 p.m.
    Let us hear
    you.
    Return of Government to IMF for financial
    assistance
    Mr Paul A. Twum-Barimah (on behalf of
    Mr Kwadjo Asante)(NPP—Suhum) 4:18 p.m.
    Mr Speaker, I beg to ask the Hon Minister for
    Finance if the Government, through the
    Ministry's work plan, intends to return to the International Monetary Fund (IMF) for
    financial assistance.
    Dr J. A. Kumah 4:18 p.m.
    Mr Speaker, the IMF
    remains a trusted advisor and a partner to
    Government. As an IMF member country, the
    Government continues to engage the Fund
    through Article IV consultations where
    macroeconomic issues are discussed and
    recommendations made. The IMF also
    supports with technical assistance in relevant
    areas.
    Government is resolved to take necessary
    and tough measures to restore and sustain
    macro stability as well as promote credibility
    and investor confidence through the
    implementation of Government's fiscal consolidation and debt sustainability measures.
    We will continue to collaborate with the Fund
    as we stabilise the economy for a strong
    recovery and revitalisation.
    Mr Speaker, I thank you.
    Mr Second Deputy Speaker 4:18 p.m.
    Very well.
    The owner of the Question is not here. Are you
    —?
    Mr Twum-Barimah 4:18 p.m.
    Mr Speaker, no further questions.
    Mr Second Deputy Speaker 4:18 p.m.
    No
    supplementary questions. If it is a Leader I would allow him —.
    Mr Ahmed Ibrahim 4:18 p.m.
    Mr Speaker, I know this answer is coming from the Minister for Finance. The Hon Deputy Minister, Dr John Kumah, who is answering on behalf of the Hon Minister is quoted to have said that if the internal plans fail, the Government may be forced to return to the IMF. I also heard it on social media. Now, God being so good, he is here — [Laughter] — We want to hear from him
    An Hon Member 4:18 p.m.
    From the horse's own
    mouth because the answer he has given — collaboration in what form? Would Ghana go to the IMF? I think that is what the Hon Member for Suhum wanted to know. Are we going to the IMF or we are not going?
    Mr Second Deputy Speaker 4:18 p.m.
    Yes, Hon Deputy Minister, I also heard you — [Laughter]—
    Dr J. A. Kumah 4:18 p.m.
    Mr Speaker, as we speak, Ghana is not going to the IMF but we also want to make it clear that we would continue to work with the Fund as a member of the Fund. We would continue to engage on issues of policy, debt sustainability, and fiscal consolidation.
    Mr Speaker, I thank you.
    Mr Second Deputy Speaker 4:18 p.m.
    I thank you very much.
    We move to the Question numbered *678,
    which stands in the name of the Hon Member

    Oral Answers to Questions

    for Afigya Kwabre North, Hon Collins Adomako-Mensah.

    Assurances on abandoned projects
    Mr Collins Adomako-Mensah (NPP— Afigya Kwabre North) 4:18 p.m.
    Mr Speaker, I beg to
    ask the Minister for Finance what assurance the
    Ministry can give in response to the widely
    held concern that Government has abandoned
    projects started by previous administrations.
    Dr J. A. Kumah 4:28 p.m.
    Mr Speaker, Government
    has not abandoned projects inherited from the
    previous Administration. Most of the projects
    that we inherited are either completed or
    ongoing. Let me take the opportunity to
    highlight some of these projects.
    In the education sector, a total number of 22
    out of the 101 e-Block projects were completed
    by the previous Administration and the
    remaining 79 projects were inherited by this
    Government. Out of the 79 projects, 35 have
    duly been completed in line with
    Government's policy in the education sector. Work is on-going on the remaining blocks
    across the country.
    Mr Speaker, it is also worth noting that a
    total of four out of the eight critical Sea
    Defence Projects that were at various stages
    under the previous Administration have also
    been completed. These are in Blekusu,
    Amanfokuma, Aboadze New Takoradi. In
    addition, the Dansoman and Axim Sea Defence
    Projects, which were started after 2017 have all
    been completed.
    Mr Speaker, the Government inherited a
    total of 11 projects under the Ministry of
    Defence from the previous Administration and
    so far, four of these projects have been fully
    completed, including four-storey block of 16
    flats at Burma Camp, Accra, and similar ones
    in Wa and Tamale Naval Baracks has also been
    completed (security housing).

    Mr Speaker, the following are some of the

    critical road projects the Government inherited

    from the previous Administration that have

    either been completed or significantly

    improved. It is important to note that the Kasoa

    Interchange and ancillary works project; The

    Tarkwa-Bogoso-Ayamfuri; Ayamfuri-Asawinso;

    Nsawam-Apedwa Kwafokrom roads, which

    were inherited at various levels of completion

    have duly been completed. The dualisation of

    the Ho main road, Teshie Link Road and the

    Bolgatanga-Bawku-Polmakom road projects

    are currently ongoing.
    Mr Second Deputy Speaker 4:28 p.m.
    Hon
    Minister, with regard to health and hospitals - my own Fomena Hospital - yes, if you can say something about it, because that is also an
    inherited project.
    Dr Kumah 4:28 p.m.
    Mr Speaker, thank you for the
    kind observation. The Fomena District
    Hospital, Bekwai District Hospital, and even
    the Konongo District Hospitals that were all
    started by the previous administration have
    been completed together with several other
    hospitals and health facilities across the
    country.
    Mr Second Deputy Speaker 4:28 p.m.
    The Fomena
    Hospital is probably ongoing and not

    Oral Answers to Questions
    Dr Kumah 4:28 p.m.
    Yes, it is either ongoing or
    completed.
    Mr Second Deputy Speaker 4:28 p.m.
    Hon
    Members, we would take Question —
    Mr Ahmed Ibrahim — rose —
    Mr Second Deputy Speaker 4:28 p.m.
    Yes, Hon
    First Deputy Minority Whip?
    Mr Ahmed Ibrahim 4:28 p.m.
    Mr Speaker, in
    paragraph two of the Hon Minister's Answer, he stated that:
    “In the Education sector, a total number of 22 out of 101 E-Block
    projects were completed by the
    previous Administration ...”
    We keep doing this to ourselves. The
    former Hon Minister for Education, Dr
    Matthew Opoku Prempeh, went to Asempa FM
    and said that John Dramani Mahama
    completed only 46 E-Blocks. The current Hon
    Minister for Education, Dr Yaw Osei
    Adutwum, in an Answer to a similar Question
    in this House and it is in our records, said that
    John Dramani Mahama completed only 29.
    Today, the Hon Minister for Finance is in this
    House again saying John Dramani Mahama
    completed 22. If care is not taken, they will
    come and say tomorrow that John Dramani
    Mahama completed zero. So which is which?
    Is it the former Hon Minister for Education, Dr
    Matthew Opoku Prempeh, who John Mahama
    handed over to, who said the previous
    administration completed 46 on Asempa FM,
    or the current Hon Minister for Education, Dr
    Yaw Osei Adutwum, who came to this House,
    as it is captured in our records and said John
    Mahama completed only 29 E-Blocks, or is it
    the 22 which has been given to us today? How
    do we reconcile these three numbers and which
    of the three Hon Ministers should we believe?
    I would want to know from the Hon Minister.
    Mr Second Deputy Speaker 4:28 p.m.
    Yes, Hon
    Majority Leader?
    Mr Kyei-Mensah-Bonsu 4:28 p.m.
    Mr Speaker, the
    Hon First Deputy Minority Chief Whip said
    that the former president, Mr John Dramani
    Mahama handed over to Dr Matthew Opoku
    Prempeh. He never handed over to him. — [Laughter] —
    Mr Speaker, the premise of the statement
    made by my Hon Colleague is not only wobbly
    but faulty. This cannot be entertained in this
    House. Having said so, I thought my Hon
    Colleague should know that when we talk
    about completion in construction, it relates to
    percentages. If a person says that it is 100 per
    cent complete, it may be substantially different
    from somebody saying it is 90 per cent or 95
    per cent complete. What my Hon Colleague
    should have asked is the range of completion
    that each of them talked about.
    Thank you very much.
    Some Hon Members — rose —
    Mr Second Deputy Speaker 4:28 p.m.
    Hon
    Members - obviously, the reconciliation will come, so do not worry.
    We would move to Question *679, which
    stands in the name of the Hon Member for
    Okaikoi South, Ms Dakoa Newman.

    Oral Answers to Questions

    Progress and Impact of the Ghana CARES

    Programme and Plans to Revitalise the

    Post COVID-19 Economy
    Ms Dakoa Newman (NPP - Okaikwei South) 4:28 p.m.
    Mr Speaker, I beg to ask the Hon
    Minister for Finance the progress and impact
    of the Ghana CARES programme as well as the
    plans to raise a US$100 billion fund through a
    Government-Private collaboration, all aimed at
    revitalising the economy, post COVID-19.
    Mr Second Deputy Speaker 4:28 p.m.
    Is the
    amount US$100 billion or US$100 million?
    Dr Kumah 4:38 p.m.
    Mr Speaker, I would respond
    to that.
    Mr Speaker, I thank the Hon Member for
    this very important Question.
    Mr Speaker, the Ghana CARES “Obaatan Pa” programme is a 100 billion cedis programme and not a 100-billion-dollar
    programme in which Government has
    committed to provide GH₵30 billion with the balance of GH₵70 billion expected from the private sector and development partners. Since
    its launch in November 2020, we have
    established delivery units within the
    participating MDAs to facilitate speedy and
    effective delivery of results.
    Progress of Ghana CARES
    Mr Speaker, the CARES “Obaatan pa'' Programme continues to target key sectors in
    the economy for sustained result. We have
    prioritised the modernisation of agriculture and
    food import substitution, value addition
    initiatives and support, development of a
    vibrant tourism sector and expansion of our
    manufacturing and export capacity.
    Mr Speaker, the following achievements
    are noteworthy:
    i. Registered 1,040,793 farmers in the northern sector (out of an estimated
    3 million farmers nationwide) and
    32,536 value chain actors, in a
    database to improve tracking and
    targeting of support programmes in
    the agriculture sector;
    ii. Provided Interest Rate Subsidy (IRS) to 22 agribusinesses;
    iii. Upgrading of culturally significant sites namely; Aburi Botanical
    Gardens; Yaa Asaantewaa
    Mausoleum (Ejisu and Besease);
    and Accra Tourist Information
    Centre;
    iv. Supporting enterprises in the textile and garment sector and improving
    access to credit for anchor
    operators in the agricultural value-
    chain;
    v. Establishing the Bioequivalence Centre at Noguchi to support local
    pharmaceutical manufacturing
    industry. In addition, five
    pharmaceutical companies are
    being supported to upgrade
    operations to WHO standards;

    Oral Answers to Questions

    vi. Supporting the construction of a foundry, which is 95 per cent

    complete, and machine tooling

    centre, which is 10 per cent

    complete, to manufacture basic

    tools and implements for the

    agriculture, mining and automobile

    sectors;

    vii. Signed an MoU to leverage the capacity and expertise of MiDA to

    accelerate implementation of key

    interventions;

    viii. Concluding arrangements on the proposed US$30 million grant from

    MasterCard Foundation to support

    the youth, under the Young Africa

    Works Programme, in rice and

    poultry production; and

    ix. Launched the Training and Retraining Scheme this week and

    will commence implementation in

    July, 2022.

    The Impact of Ghana CARES

    Mr Speaker, the impact of Ghana CARES

    has been:

    i. Building a stronger economy anchored on competitive import

    substitution in agriculture,

    pharmaceuticals, and textiles and

    garments;

    ii. Boosting participation of the youth

    in agriculture;

    iii. Providing local businesses and

    entrepreneurs, especially the youth

    in strategic sectors (e.g.

    Technology and Digitalisation)

    with direct support to enhance

    growth; and

    iv. Developing revenue mobilisation strategies that will boost burden-

    sharing and enhance delivery of

    social services in communities.

    Funding of Ghana CARES

    Mr Speaker, the GH₵100 billion Ghana CARES programme is to be funded with

    spending and investment inflows from

    Government (GH₵30 billion) and the private sector and development partners i.e. both

    domestic and external (GH₵70 billion). The programme continues to attract interest from

    international partners.

    Currently, our collaboration with Master

    Card demonstrates our progress in mobilising

    private sector investment. Furthermore, we are

    engaging the Kuwaiti Fund to mobilise

    additional resources.

    The Ghana Investment Promotion

    Centre is developing an investment

    promotion programme which targets the

    key priorities.

    With the support of the Tony Blair

    Institute, Government is engaging United

    Green, a private investment firm, towards

    securing a potential US$250 million to

    Oral Answers to Questions

    support interventions in rice and textile

    sectors.
    Mr Second Deputy Speaker 4:38 p.m.
    Hon
    Member, do you have any supplementary
    question?
    Ms Newman 4:38 p.m.
    No, Mr Speaker.
    Mr Second Deputy Speaker 4:38 p.m.
    Very
    well.
    We would take Question numbered 680.
    Mr R. Acheampong — rose —
    Mr Second Deputy Speaker 4:38 p.m.
    Hon
    Member for Bia East, Mr Richard
    Acheampong, are you not tired? We are
    moving to Question *680.
    Anyway, Hon Majority Chief Whip, let
    me listen to him.
    Mr R. Acheampong 4:38 p.m.
    Mr Speaker,
    thank you very much for indulging me.
    Mr Speaker, in the Answer provided by
    the Hon Deputy Minister, he did indicate
    that the private partners would provide
    GH¢70 billion. I just want to find out from
    him how much the private partners have
    provided so far out of the GH¢ 70 billion - [Interruption] - The total amount is GH¢100 billion, the Government would
    provide GH¢30 billion and the private
    partners are to provide GH¢ 70 billion, so I
    would like to find out how much the
    private partners have provided so far
    [Interruption] - It is part of the Answer provide by the Hon Deputy Minister.
    Mr Kyei-Mensah-Bonsu 4:38 p.m.
    Mr Speaker,
    if an Hon Member is not in the House and
    an agreement is reached and he enters, it is
    his responsibility to enquire where we are.
    They should not inject themselves into the
    Business.
    Mr Speaker, may I urge that we go on. I
    thank you. [Interruption] -ss [Laughter] -
    Mr Speaker, just for the records, where
    e-Parliaments operate, an Hon Member
    cannot go and hide in his farm and pretend
    that he is part of the e-Parliament. He must
    demonstrate presence; he should not go
    and hide in his farm and when he enters the
    main Chamber, he tells us that he was
    taking advantage of e-Parliament.
    Mr Second Deputy Speaker 4:38 p.m.
    Hon
    Majority Leader, respectfully, I have
    already asked him to ask the question so if
    the Hon Deputy Minister would respond to
    it —
    Dr Kumah 4:38 p.m.
    Mr Speaker, at the
    moment, the Ghana CARES programme
    has received a number of interests from
    different partners and I have already
    enumerated a number of them; Master
    Card Foundation is doing training with the
    programme. We are looking at a potential
    partnership with the Tony Blair Institute,
    the Investment Green, we are talking about
    the Kuwaiti Fund which is also willing to
    partner and the Ghana Investment

    Oral Answers to Questions

    Promotion Centre (GIPC) is also raising

    some investment under the programme. I

    do not have the specific figures at the

    moment as we speak but there are a number

    of interests on the Ghana CARES

    programme.

    I thank you, Mr Speaker.
    Mr Second Deputy Speaker 4:38 p.m.
    We
    would take Question *680, which stands in
    the name of the Hon Member for Nsawam-
    Adoagyiri.
    Mr Annoh-Dompreh 4:38 p.m.
    Mr Speaker, if
    you may indulge me, because of the earlier
    presentation by the Hon Minister for
    Finance which in my own assessment
    found very detailed, I think my Question is
    redundant relative to the Answers he gave.
    So, respectfully, I would have to withdraw
    this Question.
    Mr Second Deputy Speaker 4:38 p.m.
    Very
    well.
    Mr Second Deputy Speaker 4:38 p.m.
    Hon
    Members, we would take the last Question
    which is *681.
    Measures to Ensure the Creation of
    one million Jobs in the Light of the
    Current Indication that Government
    Payroll is Full
    Mr Paul Apreku Twum-Barimah
    (NPP - Dormaa East): Mr Speaker, I beg to ask the Hon Minister for Finance what
    measures the Ministry has in place to
    ensure that the creation of one million jobs
    stated in the Mid-Year Budget is achieved,
    in the light of the current indication that the
    Government payroll is full.
    Dr Kumah 4:38 p.m.
    Mr Speaker, when
    Government announced in the 2021 Mid-
    Year Budget Statement that it will create
    one million jobs over a three-year period
    through the YouStart Initiative, our focus
    was to build an entrepreneurial nation by
    stimulating the private sector to become
    the engine for job creation. The YouStart is
    a historic GH₵10 billion programme, with GH₵3 billion from Government, GH₵5 billion from the partner Banks, and GH₵2 billion from Development Partners.
    Mr Speaker, as stated during the
    presentation of the 2022 Government
    Financial Policy Statement, YouStart is
    Government's special purpose vehicle to provide funding and technical support to
    the youth and youth-led enterprises to
    assist them start, build and grow their own
    businesses.
    Mr Speaker, the Ministry of Finance, in
    collaboration with the National
    Entrepreneurship and Innovation Pro-
    gramme, Ghana Enterprises Agency,
    Faith-Based Organisations, and Financial
    institutions will provide loan packages
    ranging from GH₵50,000 GH₵500,000 to youth-led enterprises, and Small and
    Medium-scale Enterprises (SMEs) under
    the YouStart initiative. Additionally, such
    businesses will be supported with technical
    skills, training as well as mentoring, to

    Oral Answers to Questions

    enable them develop commercially viable

    enterprises.
    Mr Second Deputy Speaker 4:38 p.m.
    Hon
    Member, do you have any supplementary
    questions?
    Mr Twum-Barimah 4:38 p.m.
    Mr Speaker, I am
    alright.
    Thank you very much.
    Mr Second Deputy Speaker 4:38 p.m.
    Hon
    Deputy Minister, on behalf of the House, I
    would like to thank you for holding the fort
    of the Hon Minister to answer the rest of
    the Questions. You are hereby discharged.
    Hon Majority Leader, any indication?
    Mr Kyei-Mensah-Bonsu 4:38 p.m.
    Mr Speaker,
    we can commence Public Business by
    presenting some Papers which would not
    take much time and after that we could take
    an adjournment.
    So, we would go to item numbered 8.
    Mr Second Deputy Speaker 4:38 p.m.
    Hon
    Members, item numbered 8 - Presentation of Papers.
    We would begin with item numbered 8
    (a), by the Hon Majority Leader and the
    Leader of Government Business.
    Mr Kyei-Mensah-Bonsu 4:38 p.m.
    Mr Speaker,
    the House came to some conclusions that
    we would not listen to the Hon Minister for
    Finance in this House until he came to
    respond to Questions filed and also gave a
    Statement on the COVID-19 expenditures.
    These assignments have been completed
    by the Hon Minister and I believe that the
    House would give a coast clear signal to
    the Hon Minister so that from tomorrow,
    businesses related to the Ministry of
    Finance could be undertaken by the
    relevant Committees.
    Mr Second Deputy Speaker 4:48 p.m.
    Very
    well.
    Hon Members, as directed two or three
    days ago, I carried the instructions that all
    the referrals to the Committee on Finance
    would still be on hold even though the
    referral has been made.
    Today, the Hon Minister for Finance
    has discharged himself, therefore, the
    caveat is now removed. The Committee on
    Finance should go ahead and investigate all
    the referrals referred to them and report
    back to the House as quickly as possible. I so direct
    Mr Ahmed Ibrahim 4:48 p.m.
    Mr Speaker, I am
    with you and the Hon Majority Leader on
    this, except to say that these two Reports
    we have been commenting on: The Annual
    Public Debt Report - if we can deal with that of the year 2020 tomorrow, then the
    Finance Committee should also be urged to
    present that of the 2021 Report so that we

    Oral Answers to Questions

    can clear them. In so doing, we would be

    able to make inputs into the activities of the

    Finance Committee in order to assist them.

    I do not think these Reports were brought

    here for nothing — exactly, so these are the only things I would want to add to what has

    already been said.
    Mr Second Deputy Speaker 4:48 p.m.
    Yes, Hon
    Majority Leader?
    Mr Kyei-Mensah-Bonsu 4:48 p.m.
    Mr Speaker,
    thank you for the directive from the Chair
    that we come back to continue with the
    consideration of referrals involving the
    Ministry of Finance. I would want to
    believe that — is it Debt Management Report or Debt Report? The Hon Member
    keeps talking about Debt Reports. It is

    Mr Speaker, in fact, those ones have

    already been listed on today's Order Paper. If you look at item listed as 9, they are

    already listed and we can deal with them.

    That is, starting from tomorrow.

    Having said so, if you so permit, I would

    begin with the item listed as 8(a).
    Mr Second Deputy Speaker 4:48 p.m.
    All right.
    Hon Members, once again, let us turn to
    page 5 of the item numbered 8(a):
    Presentation of Papers by the Hon Majority
    Leader.
    PAPERS 4:48 p.m.
    Mr Kyei-Mensah-Bonsu 4:48 p.m.
    Mr Speaker,
    if the House would indulge me, I would
    want to present the two Papers of roman
    numerals (i) and (ii) on behalf of the Hon
    Minister responsible for Local Govern-
    ment, Rural Development and Decen-
    tralisation.
    Mr Second Deputy Speaker 4:48 p.m.
    Very
    well.
    You may carry on.
    By the Minister for Parliamentary
    Affairs (Mr Osei Kyei-Mensah-Bonsu) (on
    behalf of the Minister for Local
    Government, Rural Development and
    Decentralisation) —
    (i) Annual Statement by the Audit Committee of the Upper East Regional
    Coordinating Council for the Year
    2020.

    Papers

    (ii) Annual Statement by the Audit Committee of the Ayawaso East Municipal Assembly for the Year

    2020.

    Referred to the Committee on Local

    Government and Rural Development.
    Mr Second Deputy Speaker 4:48 p.m.
    Hon
    Members, we would now move to the item numbered 8(c) by the Hon Minister for Finance.
    Mr Kyei-Mensah-Bonsu 4:48 p.m.
    Mr Speaker,
    the Minister responsible for Finance was with us and has reclined to engage in some other activities at the Ministry. The Hon Deputy Minister is here with us and can perform the responsibilities on behalf of the Hon Minister.
    Mr Second Deputy Speaker 4:48 p.m.
    Yes, now
    the Hon Deputy Minister may do that on behalf of the Hon Minister.
    By the Deputy Finance Minister (Dr
    John Ampontuah Kumah) (on behalf of the Minister for Finance) —
    i. Annual Statement by the Audit
    Committee of the Controller and Accountant-General's Department for the Year 2020.
    ii. Loan Agreement between the
    Government of the Republic of Ghana (represented by the Ministry of Finance) and the Government of the Republic of Korea (acting through the Export-Import Bank of Korea [Government Agency for the
    Economic Development Coopera- tion Fund {EDCF}]) for an amount in Korean Won not exceeding the equivalent of thirty million United States dollars (US$30,000,000.00) to finance the Medical Equipment Provision Project in response to
    COVID-19.
    Referred to a Joint Committee of Finance
    and Health Committee.
    iii. Loan Agreement between the Government of the Republic of
    Ghana (represented by the
    Ministry of Finance) and the
    Government of the Republic of
    Korea (acting through the Export-
    Import Bank of Korea
  • [Government Agency for the Economic Development Coopera- tion Fund {EDCF}]) for an amount in Korean Won not exceeding the equivalent of one hundred and forty-seven million, one hundred thousand United States dollars (US$147,100,000.00) to finance the implementation of the Improvement of Volta Lake Transport System Project. Referred to the Joint Committee of Finance and Roads and Transport Committee.
    • Mr Kyei-Mensah-Bonsu 4:48 p.m.
    Mr Speaker,
    before we get to the item numbered 8(d),
    the referral in respect of the item numbered

    Papers

    8(c)(ii) and (iii), I would want to plead that

    for roman numeral (ii) under (c), we add

    the leadership of the Health Committee —
    Mr Kyei-Mensah-Bonsu 4:48 p.m.
    Mr Speaker,
    for roman numeral (iii), we add the
    leadership of the Roads and Transport
    Committee because these are loan
    agreements and the contract agreements
    would be coming to the respective
    Committees and oftentimes, when they are
    not too much aware of what the terms and
    conditions of the facility is, they are unable
    to appreciate the import of the facility.
    So, let us add the leadership of the
    Health Committee to 8(c)(ii) and that of
    Roads and Transport Committee to
    8(c)(iii).
    Mr Speaker, thank you very much.
    Mr Second Deputy Speaker 4:48 p.m.
    Very
    well.
    Hon Members, I move that the item
    numbered 8(c)(ii) be referred to the
    Finance Committee together with the
    leadership of the Health Committee for
    consideration and report.
    Hon Members, in the same vein, I move
    that the item numbered 8(c)(iii), that the
    Paper is referred to the Finance Committee
    together with the leadership of the Roads
    and Transport Committee to consider and
    report to the House.
    Hon Majority Leader, you can now
    move to the item numbered (d).
    Mr Kyei-Mensah-Bonsu 4:48 p.m.
    Mr Speaker,
    the item numbered (d) is in the name of the
    Hon Chairman of the Public Accounts
    Committee (PAC). He is not here but I
    understand that we have an Hon Member
    from the PAC here in the person of Mr
    Murtala Muhammed Ibrahim. That being
    the case - [Interruption] — In the person of Hon Murtala — vulnerable, oh, I said “honourable”; he is adding “vulnerable”. You know I am not capable of making
    derogatory statements [Laughter].
    Mr Speaker, I am told the Hon Member
    is a member of the Committee, so if he
    could assume the position of the Chairman,
    and then he would present the Papers.
    Mr Second Deputy Speaker 4:58 p.m.
    So, Hon
    Murtala Muhammed Ibrahim, would you
    want to — Very well. Hon Members, we would lay the Papers.
    By Hon Member for Tamale Central
    Mr Murtala Muhammed Ibrahim (on
    behalf of the Chairman) —
    (i) Report of the Public Accounts Committee on the Report of the
    Auditor-General on the
    Management and Utilisation of
    District Assemblies' Common Fund (DACF) and Other Statutory

    Papers

    Funds for the Year Ended 31st

    December 2018.

    (ii) Report of the Public Accounts Committee on the Report of the

    Auditor-General on the Accounts

    of District Assemblies for the

    Financial Year Ended 31st

    December 2018.

    (iii) Report of the Public Accounts Committee on the Report of the

    Auditor-General on the Public

    Accounts of Ghana (Pre-University

    Educational Institutions) for the

    Financial Year Ended 31st

    December, 2018.

    (iv) Report of the Auditor-General on the Public Accounts of Ghana

    (Technical Universities and

    Polytechnics) for the Period Ended

    31st December, 2018.

    Alhaji Muntaka — rose —
    Mr Second Deputy Speaker 4:58 p.m.
    Hon
    Minority Chief Whip, what else?
    May I come to you, Hon Majority
    Leader?
    Mr Kyei-Mensah-Bonsu 4:58 p.m.
    Mr Speaker,
    I have been informed that there is a very
    important commemorative Statement. If
    you are on it — Mr Speaker, if you would permit the Hon Member to make a very
    important commemorative Statement
    which, I understand, actually happened
    today. So, I would —
    Mr Second Deputy Speaker 4:58 p.m.
    Yes, is it
    Hon Kofi Adams who is taking the
    Statement?
    [Pause.] Very well.
    Hon Members, we have one important
    Statement we would like to take, so kindly
    indulge me to take us back to the item
    numbered 6 on today's Order Paper.
    Mr Kyei-Mensah-Bonsu 4:58 p.m.
    Mr Speaker,
    I am advised that given the circumstances
    of the time, we may have to reschedule it
    for tomorrow. It relates to the transition of
    a former President, so I guess we may have
    to stand it down and take it tomorrow.
    Mr Second Deputy Speaker 4:58 p.m.
    All right.
    Hon Majority Leader, any indication?
    Mr Kyei-Mensah-Bonsu 4:58 p.m.
    Mr Speaker,
    in that case, I guess the time reads 5.00
    p.m., which is three hours after the normal
    closing time, so we may take an
    adjournment. We do not need a Motion to
    occasion an adjournment. You can suo
    moto do that.
    Mr Second Deputy Speaker 4:58 p.m.
    Very
    well.
    Mr Ahmed Ibrahim 4:58 p.m.
    Mr Speaker, we
    are with you. This is just to remind the Hon
    Majority Leader that all Committees must
    continue their sitting and get back to the
    House.
    Mr Second Deputy Speaker 4:58 p.m.
    Hon
    Members, I would like to thank you very
    much for indulging us up till this time. We
    would move to adjourn the House till
    tomorrow 10.00 a.m.
    ADJOURNMENT 4:58 p.m.