The Minority in Parliament has asked President Nana Addo Dankwa Akufo-Addo to spell out in his State of the Nation Address, scheduled for Tuesday, the sources of funding for the free senior high school (SHS) policy. Deputy Minority leader, James Avedzi Klutsey said the clarification by the President would put to rest the contradictions regarding … Read more
Former Deputy Finance Minister, Mona Helen Quartey has cautioned the governing New Patriotic Party (NPP) to think through the free senior high school (SHS) programme before implementing it. She said the “bold endeavour” of government might fail if it is hastily executed without a clearly thought-out plan to sustain the social intervention programme. Contributing on … Read more
The governing New Patriotic Party (NPP) has maintained no absolute decision has been taken to use the Heritage Fund to finance the free senior high school (SHS) programme. NPP Director of Communications, Nana Akomea said comments by Senior Minister Yaw Osafo Maafo about the likelihood of government using the reserved Fund was a suggestion. “This … Read more
Finance Minister Ken Ofori-Atta has said the Akufo-Addo government has ample resources to bankroll its Free Senior High School policy without needing to touch the Heritage Fund. “We are financing the Free SHS education without looking at the Heritage Fund. We are not touching the Heritage Fund. I think we have enough resources from our … Read more
Finance Minister, Ken Ofori-Atta, has said the Akufo-Addo government has no intention of touching the Heritage Fund to bankroll the Free Senior High School policy. “We are not going to touch the Heritage Fund to be able to support the free SHS education,” Ofori-Atta told Accra-based Joy FM. Mr Ofori-Atta’s clarification follows a comment by … Read more
The government must set up a Senior High School Fund that will become a permanent and sustainable source of funding for the Akufo-Addo government’s Free Senior High School, pressure group Alliance for Accountable Governance (AFAG), has suggested. The group said the SHS Fund must be cast in the mould of the GETfund. According to the … Read more
A New Patriotic Party (NPP) MP on Parliament’s Finance Committee says government has not taken any definite decision to use the Heritage Fund to finance the free senior high school (SHS) policy. Kwaku Kwarteng said government’s ways of funding its flagship programme would be communicated to Ghanaians in its 2017 budget statement scheduled to be … Read more
The minority in parliament has said it will fiercely resist any attempt by government to finance its free SHS policy with the Heritage fund. According to the minority, the decision by the Akufo-Addo-led government to resort to the Heritage fund for the education policy exposes its lack of resource ideas. Section 10 of the Petroleum … Read more
The Minority in Parliament has said it will resist the use of the Ghana Heritage Fund to bankroll the Akufo-Addo government’s Free Senior High School programme scheduled to start in September this year. “We join the overwhelming majority of Ghanaians and civil society groups to register our strongest disapproval and objection to this idea. We … Read more
Minority leader, Haruna Iddrisu says government’s decision to tap into reserved oil revenue known as Heritage Fund to finance its free senior high school (SHS) policy would be fatal for Ghana’s future. He said the use of the Fund, which is nine percent of Ghana’s oil revenue, might compromise the safety of the country because … Read more
Using the Heritage Fund to bankroll the government’s Free Senior High School programme is apt, but the money must be paid back with interest after three years, pressure group Alliance for Accountable Governance (AFAG) has said at a press conference in Accra on Thursday, 16 February. “This policy, in our opinion, has nothing to do … Read more
Ghana needs about $600 million per annum to fund and implement the Free Senior High School programme introduced by the Akufo-Addo government, Patrick Stephenson, Director of Research and Finance of policy think tank Imani Africa, has said. The Ghana Heritage Fund was established in 2011 by Section 10 (1) of the Petroleum Revenue Management Act, … Read more
Return on investment of Ghana’s Heritage Fund recorded a decline in the second half of 2016 as compared to the first half of the same year. A report released by the Bank of Ghana on the performance and activities of the Petroleum Holding Fund (PHF) and the Ghana Petroleum Funds (GPFs) for the Second half … Read more
IT has emerged that the performance of the Ghana Petroleum Funds’ portfolios declined in the second of 2016. In an era where Ghana paid between eight and 10.75% interest on Eurobonds, it is worrying to know that return on investment of Ghana Heritage Fund (GHF) in instruments abroad for the second half of 2016 was … Read more
Daily Guide has learnt that a total of GH¢245,082.35 meant for the construction of a kindergarten block for Dabaabi M/A Primary School in the Dormaa Central municipality of the Brong-Ahafo Region has not been accounted for. According to the Finance Ministry, the said amount was paid to the construction firm in November 2016, yet there … Read more
The Public Interest and Accountability Committee (PIAC) has asked government push the Volta River Authority (VRA) to pay more than $306 million it owes the Ghana National Gas Company (GNGC). The Committee warns in its latest report that the debts could hit unimaginable limits if the power producer does not move to clear it. The … Read more
The Petroleum Holding Fund has accrued $21.6 million out of Ghana’s total lifting of crude oil from the Jubilee Field in 2015 Deputy Minister of Finance, Mona Quartey has disclosed Friday. Breaking it down, at a stakeholder’s engagement in Accra, she said the Stabilization Fund alone has realized $15.2 million whilst the Heritage Fund received … Read more