According to the minority, reducing by 60 percent the number of Ministers and presidential staffers would rather help the government to secure more funds for the fight against the menace than relying on the country’s Heritage Fund.
The suggestion follows proposed amendment of the Petroleum Revenue Management Act by the Finance Minister, Ken Ofori-Atta on Monday, March 30, 2020, to allow the government to utilize portions of the Heritage Fund in the fight against COVID-19.
But the Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa has said that although the government is faced with a legitimate economic challenge in the wake of the effects of the pandemic on local businesses and projected national revenues, the Heritage Fund should not be the first consideration.
He posits that it will be expedient for government “to sacrifice and consider other patriotic options.”
About Ghana Heritage Fund
The Ghana Heritage Fund, a creation of the PRMA, provides an endowment to support the development of future generations when the petroleum reserves have been depleted. It is currently estimated to be worth $591.1 million.
Since the intention to withdraw from the Fund was announced in Parliament, the Minority and civil society organisations have kicked against it.
Adding his voice to call for the Finance Minister to shelve the idea, a co-chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), Dr Manteaw said the government can adequately mitigate against the drastic economic impact of the pandemic by cutting down on the number of its appointees.