Road Fund owes Contractors over GH¢6bn – Annoh-Dompreh
In 2017, a law was enacted by parliament to restrict the allocation of funds to various statutory funds to a maximum of 25% of tax revenue.
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The Ghana Road Fund owes contractors over GH¢6 billion, attributing this debt to limited inflows resulting from the capping law.
In 2017, a law was enacted by parliament to restrict the allocation of funds to various statutory funds to a maximum of 25% of tax revenue.
Speaking at the launching of the road maintenance app, Hon. Frank Annoh-Dompreh, Chairman of the Road Fund, called for the Road Fund to be exempted from the capping law in a speech read on his behalf.
He stated, “The fund isn’t doing too well, indebted in excess of GH¢6,000,000,000 to contractors for works executed, whilst revenue from the inflows is limited by the capping act.”
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Annoh-Dompreh intends to engage with the Ministry of Finance and Cabinet to consider exempting the Road Fund from the Earmarked Fund Capping and Realignment Act 2017 (Act 947).
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This exemption would make funds available to support the initiative and address the debt owed to maintenance contractors, enabling them to continue working on the roads.
Source:expressnewsghana.com
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