The government of Ghana is veering off the status quo as far as the spending of oil revenue is concerned, Mr Cassiel Ato Forson, Member of Parliament for Ejumako Enyan Essiam, has said.
According to him, oil revenues are expected to be used for investments that are self-sustaining, however, the Akufo-Addo administration, he said, is investing the money into projects that do not generate income to finance themselves.
Speaking on the floor of parliament on Wednesday, 26 June 2019, Mr Ato Forson, who is also a former Deputy Finance Minister during the Mahama administration, said: “Mr Speaker, it is not for nothing that the oil revenue is heavily regulated. Apart from the extraction industry that we regulate revenues and expenditure that are approved, tax revenue is oftentimes not regulated in terms of its expenditure.
“Because this kind of revenue depletes over a period of time, it is important for us to regulate and that is why all over the world, countries are moving for the regulation of the use of oil revenue.
“Clearly, we are seeing a system where we are using our oil revenue for consumption and for that reason, we have often said that there is the need for us to reverse to the status quo”, the opposition MP stated.
He added: “The status quo has always been that we use a chunk of the oil revenue for the purposes of investment that can pay for itself but unfortunately where we are using it for consumption.”
Meanwhile, a member of the Minority on the Finance Committee of Parliament, Mr Benjamin Kpodo has kicked against the free-for-all free senior high school being funded with oil money.
He said: “Free SHS should be discriminatory so that those of us who can pay should be made to pay. We are not opposed to free senior high school education but we are saying that the rich who can pay should be made to pay.”
He stressed: “We are solidly in favour of it but we want it to be discriminatory so that those of us who can pay should pay. The programme should target the very poor so that there will be equality.”
Source: classfmonline.com
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THE BEST DECISION EVER MADE IN MODERN TIME IS WHAT NANA ADDO HIS EXCELLENCY HAD MADE CONCERNING USING THE OIL MONEY TO EDUCATE GHANAIAN YOUTH FREE AT THE SHS LEVEL. MY PRAYER IS THAT THE NPP GOVT WILL CONTINUE TO RULE TO EXTEND THE FREE EDUCATION CONCEPT TO THE UNIVERSITY LEVEL. ATO FORSON AM SURE YOUR FAMILY MEMBERS HAVE CHILDREN CURRENTLY ENJOYING THE FREE SHS. DO YOU CALL THIS MISUSING OF OIL MONEY. PLS NDC GIVE GHANAIANS A BREAK. BEFORE NPP CAME TO POWER MY DAUGHTER WHO WAS AT PORTERS WAS PAYING 1,500.00 PER TERM. IF NDC WERE NOT BOOTED FROM POWER AM SURE BY NOW SHS FEES WOULD HAVE RISEN TO 3,000.00 AND WHAT ARE YOU TALKING ABOUT. WE ARE WILD AWAKE. NO AMOUNT OF LIES WILL BRING YOU GUYS TO POWER AGAIN.
Charlie this Ato forson guy he no get work do except spin lies all the time. he should refund his double salary and the deals he did with his brother with du-bious contracts during his tenure. NPP fuo koraa aden, na mo tena ho ma akrofuo se3 edwa wo mo anum.
Sometimes i don't blame the frustrated youths because our politicians are very wicked. Power has made them very wicked and one day, oooh one day these youth will have nothing to do but to take guns and enter parliament house.
Who is the "rich" you are talking about? Why should they be sidelined to pay for something meant for the entire nation? And then again, why are you guys so... pissed that oil money is being used to empower education? You'd rather it is kept for infrastructural development so that only a few get to benefit right from the word go.Smh. We know how contracts are always inflated.
When will this IPS graduate stop the kasa kakra and grow up. Has the money been squandered kwa oh