Former President Kufuor's Government is the best - Nana Akufo-Addo

Details

Category: Politics

Created on Tuesday, 03 July 2012 00:00

Hits: 2891

Former President Kufuor's Government is the best - Nana Akufo-Addo

03 June 2012

{sidebar id=11 align=right}Nana Addo Dankwa Akufo-Addo, Flagbearer of the New Patriotic Party (NPP) in Election 2012, on Monday said that the previous NPP administration of former President John Agyekum Kufuor was the best Government Ghana ever had.

He said the previous NPP Government created jobs for the youth of the country through schemes such as the National Youth Employment Programme and also implemented programmes such as the National Health Insurance Scheme and Free Health Care for pregnant women.

Nana Addo was addressing supporters of the NPP at the campaign launch of Lawyer Sara Adjoa Safo, the party’s Parliamentary Aspirant for Dome/Kwabenya in the Greater Accra Region.

{sidebar id=10 align=right}He said the NPP was the only party which could improve the standards of living of Ghanaians and called on the people to vote massively for the party on December 7 to save Ghana from the payment of judgment debts instead of paying better salary to teachers.

Nana Addo said his policy for free education up to the secondary level and the improvement of the condition of teachers was achievable.

He said “former president Kufuor’s government was building a six-classroom block at 70,000 Ghana Cedis, but now it is 250,000 Ghana Cedis and a bag of cement is being bought for 25 Ghana Cedis. Where are we going?”

Former President Kufuor said jobs which were created under his Government had all collapsed under the National Democratic Congress (NDC) Government led by President John Evans Atta Mills and asked the youth to vote for Nana Akufo-Addo for jobs and development.

He said the first year of his government was difficult, but hard decisions were taken by his Cabinet to manage the ‘broke economy’ which was left behind by the NDC.

Former President Kufuor said his administration which placed the country to where it was now would not have spent more than 420 million dollars on the payment of judgment debts.

Professor Mike Oquaye, Second Deputy Speaker of Parliament and Member of Parliament (MP) for Dome/Kwabenya, asked the constituents to remember the good work he has done and expressed hope that they would give Lawyer Safo the node to continue from where he would leave.

He said the NPP was a big political party that aimed at improving the lives of Ghanaians and also to develop the human resource and capacity of the country to meet international standards.

Prof. Oquaye also donated 4,000 Ghana Cedis to support the campaign of Lawyer Safo and called on the electorate to vote for her and the NPP to move Ghana forward.

Lawyer Safo said, the constituency has experienced a lot of infrastructural development under Prof. Oquaye and appealed to the electorate to vote for her to continue the good work of the MP.

She said that the NPP policy on free education up to the secondary level was the first ever in Ghana’s history.

Lawyer Safo said “the constituency is the World Bank of the NPP in the Greater Accra Region.”**

Source: GNA

No comments

NDC ‘killing’ private sector, says Osafo-Maafo

Details

Category: Business & Finance

Created on Friday, 29 June 2012 00:00

Hits: 3083

NDC ‘killing’ private sector, says Osafo-Maafo

Former Minister of Finance and Economic Planning under the Kufuor-led NPP government, Yaw Osafo Maafo, says the mismanagement of the economy by Mills-Mahama NDC administration in its 3½ year rule has led to government crowding out and stifling private sector growth.

Mr Yaw Osafo Maafo, who is currently the Chairman of the Economic committee of the NPP, made this known in a press statement to address the state of the Ghanaian currency, the cedi.

{sidebar id=11 align=right}According to him, government operations have been negatively affected by the rapid depreciation of the cedi under this government. He explained that government, as a result of this phenomenon, has had to find additional monies to pay for its dollar denominated statutory obligations such as payment of principal and interest on loans.

“This additional unbudgeted expenditure will have to be financed through domestic borrowing which crowds out the private sector,” the NPP man maintained.

He added that businesses that import goods into the country are suffering tremendously from the depreciation of the cedi. He explained that working capital of businesses are being eroded on a daily basis rendering them bankrupt.

{sidebar id=10 align=right}According to Yaw Osafo Maafo, the spiralling rise in the cost of living evident in the daily rise in the prices of goods and services on the market “is the result of the NDC government's inability to keep the currency stable.”

“The government appears to be totally lost as to how to resolve this problem, while prices of goods and services keep rising by the day! This makes untenable the reported single digit inflation as there seems to be a disjoint between cost of goods and the inflation rate,” the NPP man said.

Yaw Osafo Maafo cited the basic supply and demand for foreign currency, trade imbalances, inflation, interest rates and the loss of confidence in a country’s economy as factors which influence the exchange rate of currencies.

Touching on Ghana’s trade imbalances he explained that Ghana as at 2011 had a trade deficit of some GH¢2.5 billion. This imbalance, according to Yaw Osafo Maafo, creates a shortfall which affects the value of the cedi, warning that once “our trade imbalances persist we expect the cedi depreciation to continue.”

On Inflation, the NPP finance guru explained that higher inflation figures would normally erode the value of a country’s currency and will result in citizens keeping foreign currencies. He added that a country with a lower and stable inflation will, however, expect a relatively stable exchange rate.

He was therefore at a loss as to why Ghana, with a reported low and stable inflation for eighteen months was witnessing a rapid depreciation of the Ghana cedi in recent months.

Similarly with regards to interest rates, Yaw Osafo Maafo maintained that countries with higher interest rates normally expect capital inflows from countries with lower interest rates, resulting in the appreciation of the currency in the country whose interest rates are higher because of the implied increased demand for that country’s currency.

“This will normally result in an appreciation of the Interest rates in Ghana are currently quite high (91 day Treasury Bill is about 21%). Under this condition one will have expected foreign capital to flow in Ghana to take advantage of this high interest rate. If this were to occur, it should result in an appreciation of the cedi. However the observed current rapid depreciation of the cedi tells a different story. Why is this the case?” he wondered.

Ghanaian’s according to Yaw Osafo Maafo, have lost confidence in the economy because of the NDC’s record of poor governance, eroding credibility in state institutions, fiscal excesses in an election year and the saga of fraudulent payments of “judgement debts” to political cronies.

Yaw Osafo Maafo urged the electorate to vote for vote for the able leadership of Nana Addo Dankwa Akufo-Addo and Dr. Mahmud Bawumia in the December polls, assuring Ghanaians that “an NPP government will ensure that the exchange rate is kept relatively stable as was done before.”

Fiifi Arhin Source: thestatesmanonline.com

No comments

No contract for 86 Galloper vehicles

Details

Category: Elections & Governance

Created on Friday, 29 June 2012 00:00

Hits: 3448

No contract for 86 Galloper vehicles

Information available to the New Statesman indicates that there was no contract between the National Democratic Congress administration and African Automobile Limited for the purchase of 86 Toyota Galloper vehicles at a cost of $17 million back in 1999.

The Mills-Mahama administration, led by Samuel Okudzeto Ablakwa, is currently locked in negotiations to effect the payment of $1.5 billion to Africa Automobile Limited, because of their belief that the erstwhile NPP administration under President Kufuor refused to pay for the said vehicles.

Mr Kwaku Attafuah, a former functionary of the Kufuor-administration and a special assistant to the late former Finance Minister, Kwadwo Baah Wiredu, stated categorically that there was no contract between the NDC and Africa automobile for the purchase of the 86 cross country vehicles, corroborating the statements earlier made by Mr Adjei Darko, a former Local Government Minister under President Kufuor.

Speaking on Asempa FM’s Ekosi Sen, yesterday, he stated that the former Finance Minister constituted a committee to look into the said acquisition of these vehicles by the NDC administration in 1999.

According to him, the committee discovered, first and foremost, that the procurement of these vehicles was made without a contact between the two parties. The prices of the vehicles as also determined by the committee were inflated, with the cost of one vehicle priced at $197,000.

As though this was not enough, Mr Attafuah also revealed that the then NDC administration rejected 25 of the 86 vehicles procured, because they were defective and did not meet specifications. District Chief Executives, for whom these vehicles were mainly procured, according to him, registered their displeasure at the use of the vehicles.

Some of the DCE’s who had the chance to use some of the “brand new” vehicles, Mr Attafuah explained, complained about the vehicles catching fire and breaking down intermittently.

Mr Attafuah disclosed that the committee drew the conclusion that the 86 vehicles were used and defective vehicles with no contract between the NDC administration and Africa Automobile binding the purchase of the 86 vehicles.

Deputy Minister of Information, Samuel Okudzeto Ablakwah, who is championing government’s decision to pay the $1.5 billion debt, yesterday revealed on the same programme that government was “negotiating to beat the amount Africa Automobile is demanding down to 30% (450 million).” Samuel Okudzeto also disclosed that government has been negotiating with Africa Auttomobile for the last two years.

Analysts have stated that for an amount of $17 million to metamorphosize into $1.5 billion over an 11 year period could only mean an annual interest rate of 855% on the principal amount.

Legal luminary, Ace Ankomah, has also said that information available to him indicates that “the new GH¢1.5b ‘judgment debt’ is based on compound interest, following the non-payment of the original amount ($17 million).”

However, according to him, the law prohibits the use of compound interest in the making of such payments.

“In GWIRA v. STATE INSURANCE CORPORATION [1991] 1 GLR 398, the Supreme Court held that ‘Compound interest must always be the subject of an express agreement.’ Under CI 52, even the courts are bound to award simple interest. Any other rate of interest (including compound interest) is awarded only on the basis of existing law or an agreement between the parties,” he added.

He therefore wondered on what basis or contractual agreement that authorised the payment of compound interest to your Africa Automobile.

Also reacting to the story, Mr. Adjei Darko, who was a two-time minister at the Local Government and Rural Development Ministry between May 2003 to January 2005 and July 2007 to January 2009, said there was no document covering the so-called importation of the Galloper cross-country vehicles.

“So far as the Ministry of Local Government and Rural Development was concerned, there was no transaction between the government and any company called African Automobile whether earlier or during that period since there is no document in the ministry to confirm such,” he disclosed.

He added, “If a group (NDC government) comes and they are always eager to pay all manner of debts, it’s their own cup of tea.”

Mr. Adjei Darko rhetorically asked, “When was the so-called agreement between the Ministry of Local Government and Rural Development and the car company entered? If there was any written agreement, what were the terms? What was the status of the so-called agreement before we came? And when did the company go to court for judgment because when I was leaving in 2009, I had not been served with a court case about this issue.”

Fiifi Arhin

Source: thestatesmanoline.com

No comments

Abu Sakara sells CPP vision to electorates in IEA Presidential Encounter

Details

Category: Politics

Created on Tuesday, 26 June 2012 00:00

Hits: 2818

Abu Sakara sells CPP vision to electorates in IEA Presidential Encounter

26 June 2012

Convention Peoples Party presidential candidate Dr Abu Sakara is ready to convince Ghanaians why the party deserves another opportunity in government.   

After the 1981 coup which toppled the PNP government which has its roots to the Nkrumaist tradition, the CPP and the PNC have been wallowing in political obscurity.

The CPP seek another opportunity in government and is ready to tell Ghanaians their policies that will address the needs of the people.

{sidebar id=11 align=right}Under the auspices of the IEA, Dr Abu Sakara will sell the vision of the CPP.

Myjoyonline will stream the event live at the Kofi Annan International Peacekeeping Centre in Accra.

Live Text update

Dr. Abu Sakara says the CPP determined to make Ghana the pinnacle of Africa achievements and to demonstrate that the African can manage its own affairs.

He said unemployment has been rife and those with jobs are also concerned about real incomes.

{sidebar id=12 align=right}"We must do something for the young generation of our time". There is the wide gap between haves and have nots.

Middle Income

He said there is delusion of middle income status in Ghana with only five percent of people having access to modern toilets. 90 per cent have no access to toilets at all.

He said we must be committed to solving these challenges but must make a good assessment of our current situation.

There is no clean water and sufficient food, basic health care, he added.

Way forward

The CPP will ensure the state will play active role in investment and job creation in the country.

He said the CPP strategy will be the creation of jobs for mostly the youth.

There shall be six month military training for all 18 year olds to ensure discipline and patriotism.

Pupils who fail in the BECE will be given a lifeline under CPP leadership in vocational training.

Housing

Local entrepreneurs will be used to build small and medium scale houses for Ghanaians.

Dual Citizenship

People with dual citizenship must be given the opportunity to run for any office they so please in order to encourage them to take part in national development.

CPP will ensure District Chief Executives are elected and will also make sure that the 40 per cent quota for women appointed into public offices is respected.

Vice president will have responsibility for monitoring and evaluation under a CPP leadership.

Commitment dedication and selfless leadership are needed to take Ghana to its rightful place and a CPP president in Abu Sakara is ready to provide all that.

Sakara concludes its time for:

Q&A

Sakara,s encounter with IEA comes to an end. The PNC's Hassan Ayariga will take his turn on July 17, 2012.

From:Nathan Gadugah/Myjoyonline.com

No comments