Gov’t to launch GHC100bn COVID-19 revitalisation programme
Adnan Adams Mohammed
The government is preparing to roll out a
three-and-a-half-year recovery and revitalisation programme to ensure the
country do not only survive the havoc caused by the COVID-19 pandemic but also
recover and thrive.
The Coronavirus Alleviation & Revitalisation of
Enterprises Support (CARES) programme is expected to allow the government
‘recreate our economy and set it on a course that we yearn for’. “It will
involve an investment of GHH¢100 billion from 2021 to 2023, of which GH¢70
billion will come from the private sector”, the finance minister has said
during the mid-year budget review.
The government is touting the CARES programme as
‘ground-breaking’ as it requires radical reforms in government, particularly in
revenue generation and a radical improvement in doing business for the private
sector. It also adopts a whole-of-government implementation approach and
fosters closer collaboration with the private sector to give a sustainable
future to Ghanaians, as captured earlier”.
“Mr. Speaker, as you can see, every aspect of the lives of
Ghanaians would be dramatically impacted with the implementation of this
program; ranging from what we eat, to where we live, to where we work”, The
Finance Minister disclosed to parliament last week.
Mr Ofori-Atta noted that, government will vigorously promote
the consumption of locally produced goods and services in order to support
local businesses and generate employment. To this end, MDAs and MMDAs will be
required to prioritise the procurement of local goods and services and our
Public Procurement Authority and Central Tender Review Committee shall be so
instructed. The aim is to generate local demand and consumption with the full
force of government’s procurement capacity to ensure that most of government procurement
will be sourced locally.
“We are in extraordinary times which call for extraordinary
leadership. Accordingly, on behalf of the President of the Republic, I have
presented to you an extraordinary Mid-Year Fiscal Policy Review that seeks to
reorganise our public finances to protect lives, secure incomes, revitalise
businesses and focus our energies on driving the economy back on track to
building a Ghana Beyond Aid. It involves a recognition that the 43 solutions to
Ghana’s problems lie with Ghanaians and that, with inspiring leadership,
Ghanaians can find a way to address their own challenges”, the minister
emphasized.
Mr Ofori-Atta presented the revitalization plan for the next
three-and-a-half years as follow:
(i) An unprecedented GH¢100 billion Ghana Cares Obaatanpa
Programme to transform and modernise our society
(ii) For the next 6 months:
a. Reduce CST from 9% to 5%;
b. Establish a GH¢2 billion Guarantee Facility to support
all sectors of business and job retention;
c. Establish an Unemployment Insurance Scheme;
d. Create a GH¢100 Fund for Labour and Faith-based
organisations for retraining and skills development; e. Increase the CapBuss
Programme by GH¢150 million to, among others, facilitate credit of GH¢50
million to support the Creative Arts, the Media and the Conference of
Independent Universities;
f. Retain provision of free water for the next three months;
and
g. Retain free electricity for all life-line customers for
the rest of the year.
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