Minister for Food and Agriculture, Dr. Bryan Acheampong has attributed the constant losses posted by COCOBOD to road projects being undertaken by the Institution and payment of loans contracted by the construction of the Bui Dam.
COCOBOD has been recording losses since 2017 compelling the IMF to direct government to develop a policy to ensure the institution stops bleeding.
Speaking during approval of $800 million syndicated loan for the purchase of cocoa beans for the 2023/2024 season, Bryan Acheampong stated COCOBOD has made the turn for the better.
The Minority however disagree as ranking member for Committee on Food and Agriculture Eric Opoku flatly rejected the assertions of the minister.
According to him the losses of COCOBOD is down to mismanagement and reckless expenses nothing more or less.
The Asunafo South MP further revealed the government is projecting a further loss of 2.6 billion cedis in the 2024 budget and thus the minister assertion cannot be tenable.
He questioned why COCOBOD is spending over 300 million cedis in buying solar lamps for farmers in the midst of the crisis.
Minority leader Dr. Cassiel Ato Forson charged parliament to take particular interest into happenings at COCOBOD given the amount of losses the institution is posting.
Majority leader Osei Kyei-Mensah-Bonsu though disagrees with the assessment of the minority conceded parliament through its Committees can look into happenings at COCOBOD
The house subsequently approved the $800 million facility for the institution.
Source: Ghana/Starrfm.com.gh/103.5FM/Ibrahim Alhassan
