General News of Tuesday, 12 November 2019Source: kasapafmonline.comContractors can be paid if you reduce footsoldiers at Presidency – MinorityMinority Spokesperson on Finance, Mr Cassiel Ato ForsonThe Ranking Member on the Finance Committee and Minority Spokesperson on Finance, Mr. Cassiel Ato Forson wants President Akufo-Addo to lay off what he calls the “over staffing of footsoldiers” at the Presidency to enable him pay contractors. Speaking on Anopa Kasapa, Mr. Cassiel Ato said the negative growth, seen in the last two quarters(-8.5%) in the Construction sector just this year alone is problematic. Meanwhile, the minority spokesperson on Finance has criticised an existing arrangement between the Finance Ministry and Fidelity Bank to pay outstanding debts to contractors. According to him, the payment of the contractors through a borrowing and factoring mechanism is alien to the country’s fiscal regime and must be discouraged. Under the scheme, the affected contractors are to enter into an agreement with Fidelity Bank and have their monies paid at a significant discount ranging between 10 and 14%.

Source: GhanaWeb November 12, 2019 11:29 UTC