The Minority in Parliament is demanding that the government explains to Ghanaians the whereabout of some GHC207 million earmarked for its flagship program One District-One Factory (1D1F).
According to Minority, government says GHC508 million has been given to banks in support of one district one factory to de-risk the loans given to the companies to reduce the interest rate of their loans.
The Minority further explained that the Ministry said GHC2.69 billion in loans has been given to one district-one factory adding that currently 106 of these factories are in operation with a projection that by the end of this year 2021 the number will move 248 factories.
Addressing the media in Parliament on Friday, the Member of Parliament for Ellembele Constituency, Emmanuel Armah-Kofi Buah said the Ministry of Trade and Industry has provided documents on how the amounts have been used.
“So we are asking the Ministry that we will need the names of the banks and the names of each of the companies as well as the amount each and every company has taken. Initially, the Ministry said it will take some time for them to get these documents. They dragged it and finally they brought us the list of the banks with the names of the companies and the amounts. We insisted that without that we will not approve their budget,” he explained.
He continued that “We finally got that report this morning. Unfortunately, the Ministry was unable to account out of the 269 million loans given to the banks. The Ministry was only able to account for GHC62,281,484.29 million what it means is that a total amount of GHC207,407, 899 have not been accounted for. In other words that amount as far as we are concern is missing.
“It is important that the press and the people of Ghana take interest in this matter, and the Minister in the helm of affairs the Hon. Alan Kyerematen must come clean to the people of Ghana to explain where the amount of GHC207,407, 899 to basically de-risk these loans to one district one factory is.”
Source: Ghana/Starrfm.com.gh/103.5FM/Isaac Dzidzoamenu