Ofori-Atta’s fiscal measures cosmetic and empty – Ato Forson

The NDC Member of Parliament for Ajumako-Enyan-Esiam, Cassiel Ato Forson, says the proposed austerity measures outlined by the Minister of Finance, Ken Ofori Atta are cosmetic and empty.

According to the MP, the Minister should have rather advised the government to come out with more stringent measures rather than what was churned out.

“The fiscal measures announced today are just cosmetic and empty. It will further erode confidence in the economy. The government should: 1. Place a moratorium on new loans 2. Cut 2022 foreign financed projects by at least 50%! 3. And deliver on promise to review all flagship programs!” he disclosed in a tweet on Thursday.

The Finance Minister has announced that the government will reduce purchase of vehicles by the public sector by 50% as part of measures to resolve the current economic challenges in the country.

Also, as part of the measures, Ministers and heads of state institutions will also suffer 30% pay cut as well as 50% cut in fuel coupons until further notice, the Finance Minister announced.

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Below are details of the measures being taken by the government

– Discretionary expenditure cut by additional 10% for MDAs

– 50% cut in fuel coupon allocation to Political Appointees and heads of government institutions

– Complete Moratorium on imported vehicles for the rest of year(this will affect all new orders for the year) .. Reduce total vehicle purchases by the public sector by 50% for the period..

– Moratorium on all foreign travels except pre-approved critical statutory travels..

– IPP charges to be reviewed to reduce excess capacity payments by 20% to make savings of GHc 5 billion

– Moratorium on establishment of new state institutions by end of April 2022.

– Prioritize ongoing projects over new projects

– Reduce expenditure on all meetings and conferences by 50% effective immediately

– Pursue a comprehensive Re profiling strategies to reduce the interest expense burden..

– Liaise with organized labour & Employers association to Implement measures in Kwahu Declaration of the 2022 National Labour conference

– FREE SHS NOT TO BE TOUCHED

– Ministers and Heads of SOEs to take salary cut of 30% from April to December 2022.

Source: Starrfm.com.gh