£128 million cash for Bolgatanga Bawku road not ready- Karbo

It has emerged that the expected initial funds of £68 million meant for the resumption and completion of work on the Bolgatanga-Bawku-Pulmakong road is yet to receive cabinet and parliamentary approval.

Also READ: 22 unpaid contractors die of hunger, frustration

Though Roads and Highways Minister Kwesi Amoako Atta in August this year said government had secured the said amount from an European bank to ensure the completion of the road project, the loan facility is yet to receive the necessary approvals.

Speaking at a durbar of chiefs in Binaba in the Bawku West District during a two-day working visit of the Upper East Region by President Nana Akufo-Addo earlier in August this year, Roads and Highways Minister, Kwesi Amoako Attah said “The NPP government has done a lot of work and the contractor is back on the road. The Finance Minister Ken Ofori Atta has issued a mandatory letter to ICBC Standard Bank of the United Kingdom to release an initial amount of £68 million as the first tranche and by the time we tackle the second tranche, we would have spent £128 million.”

But speaking in an interview with Accra based Citi FM monitored by MyNewsGh.com, Deputy Minister for Roads and Highways Anthony Abayifaa Karbo explained that the said money is yet to hit the accounts of the Brazilian construction firm Queiroz Galvao.

According to him, securing the money as stated by his boss does not mean the money is currently readily available to the contractor though the funding facility by the ICBC standard bank in Europe was put before government by the Brazilian construction firm.

Related Posts

“It takes a lot of time. It doesn’t just take the Minister of Finance to issue a mandate letter [because] you are taking a loan that is adding to your national debt. You must be sure that this loan is not going to jeopardize your debt situation. It doesn’t mean that once the minister gives the mandate letter that is the end of the story, no. It doesn’t mean the money will come. It has to go to cabinet  from the ministry of finance mandate letter to the ministry to go ahead with the design and look at the commercial agreement and lawyers must sit down to put this commercial agreement together and a cabinet memo must be put on it and it must get through the cabinet mail. Don’t forget you are not dealing with only roads, you are dealing with all the ministries in this country that are putting proposals before cabinet” he said on the Citi Breakfast show.

He further stated that it would take sometime for the proposal to go through the cabinet sub-committee level before it gets to parliament for deliberations and a possible joint sitting between the Roads Committee and the finance committee of parliament.

“Once the committees deliberate it comes back to plenary and the loan is approved. Once it is approved, then the contractor also begins to trek in London with the bank to look at when the disbursement will be made.” he added.

Also READ: MPs, MMDCEs taking my projects – MSDI Minister cries out

Anthony Karbo noted that once the mandate letter from the Finance Minister had been issued, it was within right for Mr. Amoako Atta to say government has secured the facility.

Source:MyNewsGh.com/Stephen Zoure/2019

Let's block ads! (Why?)

Comments

Post a Comment

Popular posts from this blog

Most Ghanaians have been initiated into occultism by their Pastors – Papa Shee

Evangelist Papa Shee says most Ghanaians have been initiated into occultism by Pastors. According to him, most Pastors in Ghana currently are occults and with the way they are been celebrated by their followers, they initiate them into occult groups without their knowledge. He mentioned that Ghanaians lack knowledge and that has always been the reason why Pastors take advantage of them. Related Posts Quoting a Scripture from Matthew, Papa Shee mentioned that no one should refer to a man as his/her spiritual father because the word speaks against it. He indicated that he has come back to Ghana to open the eyes of ignorant Ghanaians so that they see the light. Source:MyNewsGh.com/Ayeh Offei-Akoto/2019 Mynewsgh.com is powered by stepra communications limited which seeks to give readers balanced and credible news from across Ghana and the world. A credible and strong brand of well-established news portal that seeks to establish a close relationship with its readers and ad...
Read more

Residents of Samreboi cry on gov’t to fix their roads

Residents of Samreboi are up in arms with the Government of Ghana over neglect of their roads. According to residents, It has become very worrying as their bad road network is affecting not only economic activities but also their social activities. Residents of the timber and Cocoa producing town in the Western Region of Ghana say they have been unfairly treated by several governments; the neglect they say they do not know what to attribute it to. A worrying feature of their roads they say is the fact that moving from Samreboi to neighbouring villages and towns become impossible especially during the rainy season hence bringing economic activities to a standstill. Residents say even though the year has been declared “Year of Roads” they are yet to see a kilometre of road being constructed. To the Youth especially, leaders in their part of the country have failed them after years of exploiting them for their own interest. They say they will advise themselves if nothing is done ab...
Read more

40 Never Looked This S3XY- Uche Jombo Shares Sultry PHOTOS To Mark Her Birthday

Image
Age indeed is just a number! READ ALSO: Just Take A Good Look At Gifty Anti And Her Daughter Sitting Pretty- PHOTO Nollywood actress Uche Jombo is plus one today and the actress has shared lovely photos to mark her 40 years in this world. READ ALSO: Happy Holiday! – Sandra Ankobiah Slays In New PHOTOS Uche says she is ready for the next decade and beyond and we have no doubts about that. 40 never looked this s3xy until Uche turned this page. We wish her the very best in life. Source: GhanaCelebrities.Com Let's block ads! (Why?)
Read more