• About us
  • Donate
  • WADR
  • Contact us
  • Live Stream
Friday, May 27, 2022
Loud Silence News
Advertisement
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
Loud Silence News
No Result
View All Result
Home Ghana News

Finance Minister Ken Ofori-Atta shocked at rejection of E-levy by free SHS graduates.

News Reporter by News Reporter
February 11, 2022
in Ghana News
0
192
SHARES
1.1k
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Finance Minister Ken Ofori-Atta has expressed shock at the rejection of the E-levy proposal by some youth of this country including some free senior high school beneficiaries.

He asked whether they know what the cost of rejecting the E-levy will be, given that the government needs resources to fund the programme and other initiatives.

You might also like

Don’t drive 4×4 cars if you can’t buy fuel – Osafo-Maafo to Ghanaians

I have retired from speaking on corruption- Rev Martey

Kevin Taylor Defends Nana Aba Anamoah for Her Resilience

Speaking at the Government’s 3rd Townhall meeting to sensitize the public on the need for the E-levy to be passed by Parliament in Tamale on Thursday February 10, he said “If I look at E-levy for instance, and I say that this year we intend to collect 7billion cedis and I look at mobile money subscribers and there are over 21million of us.

“So assuming I divide this 7billion by 21million of us , it is about 300 cedis a year for each person, divide by 12.

“So when I see the energy especially with which graduates who have gone through free senior high are against E-levy, I ask whether the they are calculating what the cost is. And I ask in truthfulness that does any graduate make more than 8000 or 5000?

“Assuming you are a graduate and you even made 100,000 cedis a year and you transfer all of that through MoMo, how much will that be? 10 per cent of 100,000 is 10,000 , so a third of that is 3000. So 3000 cedis for your roads , for your free education , for all of that and you are up in arms.

“So truly who should be paying for it? You have every responsibility to ask me to account for it. But we as a people, we can’t pretend that we don’t need these resources to do what we are doing. No graduate makes 100,000 cedis a year.”

Regarding calls to go to the International Monetary Fund (IMF), Mr Ofori-Atta insisted that Ghana would not return to the Bretton Woods institution for support in order to deal with the challenges that the local economy is going through at the moment.

Doing so, he said, will have dire consequences.

He also indicated that Ghana had the capacity to raise domestic revenue for development. The government has been called upon to return to the IMF for support instead of relying on the proposed E-levy for revenue.

For instance, a former Member of Parliament for New Juabeng South, Dr Mark Assibey-Yeboah believed that a return would rescue Ghana’s struggling economy.

“Without a doubt, I think we should be placing a call to Washington if we haven’t really done that. We are just not going to ask for the funds just because E-levy has been passed or not. E-levy will just bring about GH¢5 billion. We are in a deep hole of our tax revenue and facing difficulties, so going to the Fund will give us some support.

“So there is nothing wrong with going to the Fund. Ghana is a member of the IMF so what is wrong going to ask for support when we are in difficulties to go and pool resources. If I was the finance minister, I will be convincing the President that it is about time we went back,” he told Citi.

Mark Assibey Yeboah also added that the revenue expected to be accrued from the E-levy is to ensure the economic stability government is eyeing.

He further cast doubt on the government’s ability to raise the projected GH¢6.9 billion target, saying the maximum the government can raise from the controversial e-levy is GH¢5 billion.

“The GH¢6.9 billion target cannot be realized. There are a lot of exemptions so, in my estimation, the maximum amount we can get from the E-levy is GH¢5 billion, and that is less than a billion dollars, so I do not think that the E-levy is going to be a panacea to our revenues. Going to the IMF will ensure some stability and above all, we are going to get some $3 billion”.

The General Secretary of the National Democratic Congress (NDC) Johnson Asiedu Nketia also made similar call to the government.

Asked whether President Nana Addo Dankwa Akufo-Addo should go to the IMF, while speaking on the New Day show on TV3 on Monday February 7, he answered “I think it is something that they have to consider. if it is the only that will take us out of this problem then the earlier the better.”

But Mr Ofori-Atta who had earlier stated that the government would not go back to the IMF insisted that “I can tell you, as my colleague deputy said, we are not going back to the IMF, whatever we do we are not [going back]. The consequences are dire, we are a proud nation, we have the resources , we have that capacity, don’t let anybody tell you … we are not people of short-sighted, we need to move on,” Mr Ofori-Atta said.

Previous Post

Akufo Addo on a 10 day European Tour with same 15k Pounds an hour rented Private Jet

Next Post

Accra FM’s Bobbie Ansah picked up by Police for exposing Akufo Addo’s wife

News Reporter

News Reporter

Related Posts

Ghana News

Don’t drive 4×4 cars if you can’t buy fuel – Osafo-Maafo to Ghanaians

by News Reporter
May 25, 2022
Ghana News

I have retired from speaking on corruption- Rev Martey

by News Reporter
May 25, 2022
Opinion

Kevin Taylor Defends Nana Aba Anamoah for Her Resilience

by News Reporter
May 24, 2022
Ghana News

Angry NPP supporters set Party Officer Ablaze in Western North Region

by News Reporter
May 22, 2022
Ghana News

Akufo-Addo is more arrogant than Satan – Blakk Rasta

by News Reporter
May 21, 2022
Next Post

Accra FM’s Bobbie Ansah picked up by Police for exposing Akufo Addo’s wife

Recommended

PPA scandal: CHRAJ lied about AB Adjei’s bank account amounts – Kevin Taylor blows hot air

PPA scandal: CHRAJ lied about AB Adjei’s bank account amounts – Kevin Taylor blows hot air

November 1, 2020
COVID-19 Is Leaving Its Mark On The Cannabis Industry, Insiders Say

COVID-19 Is Leaving Its Mark On The Cannabis Industry, Insiders Say

April 19, 2020

Categories

  • African Business
  • African Education
  • African Health
  • African News
  • African Politics
  • African ShowBiz
  • Education
  • Ghana Business
  • Ghana News
  • Ghana ShowBiz
  • Ghana Sports
  • Human Interest Stories
  • News
  • Opinion
  • People
  • Social Trends
  • US Business
  • US Education
  • US Health
  • US News
  • US Politics
  • US Showbiz
  • WADR
  • World Business
  • World News
  • World Politics
  • World Showbiz
  • World Sports

Don't miss it

News

Ave- Xevi Wins Maiden Edition of Dr.Stephen Torkpo Foundation and De-CAK Ventures Easter Community Football Gala.

April 17, 2022
Ghana News

Muntaka rushed too much with motion on reversal of absentee NPP MPs’ case – Cletus Avoka

April 13, 2022
Ghana Business

Ghana records its highest inflation rate in 13 years, March figures rise to 19.4%

April 13, 2022
News

Manipulated “Unanimous FC” Restrains James Quayson from Holding himself as MP

April 13, 2022
World Sports

Manchester United Making Final Moves to Sign Ajax Coach Ten Hag

April 13, 2022
WADR

WADR: A Liar is a Liar

April 13, 2022

About Us

LOGO

Loud Silence Radio & TV Network and is a multi media production company focusing on Ghanaian and African news.

Contact

  • Alexandria, Virginia, USA
  • +1 212-602-9641
  • loudsilenceradio@gmail.com
Facebook Twitter Youtube Linkedin

Download App

google play store

© 2021 Loud Silence Media. All rights reserved.

  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
Menu
  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.