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IMF To Shutdown Free SHS, NABCO, Cathedral And Akufo-Addo’s Private Jet Travels

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IMF To Shutdown Free SHS, NABCO, Cathedral And Akufo-Addo’s Private Jet Travels

The Akufo-Addo administration has reportedly started talking to the IMF about a bailout, but there are already hints that if it wants to function under a state of emergency, it will have to abandon some of its major objectives and initiatives that, IMF will halt Akufo Addo’s private jet excursions, Free SHS, NABCO, and Cathedral according to the report.

IMF

In order to save money, IMF specialists will halt construction of the $450 million National Cathedral and the President’s use of pricey private planes to go to Ghana from Europe.

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According to minister of trade and industry Alan Kwadwo Kyerematen, IMF officials would assist the government in streamlining its operations and establishing fiscal discipline.

The number of ministers, who Ghanaians have forgotten about, may need to be reduced as a result of this financial limitation.

According to the government, 67,000 young people were hired for the Nation Builders Corps and paid GH¢700 and more (NABCO).

By requiring parents to cover their children’s tuition, Ken Ofori-Atta has long shown his willingness to abandon or reexamine the Free Senior High School (Free SHS) concept.

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Free SHS, according to former finance minister Seth Terkper, is unsustainable and consumes a lot of resources from the government.

“SHS that is entirely free is not tenable. To pay off debt, you borrow. Interest and compensation together make up total revenue. Borrow money to pay off debts and advance free SHS. Not right, he declared.

Source: www.GhanaCNN.com

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We’re Helping Famers To Shun Exchanging Cocoa Farms For Galamsey – COCOBOD

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The Ghana Cocoa Board (COCOBOD) says it is rolling out a number of interventions to ensure that, cocoa farmers do not lose their farmlands to illegal small-scale mining, otherwise known as galamsey.

It comes on the back of concerns that several factors are pushing cocoa farmers to exchange farmlands for illegal mining, thereby threatening the cultivation and production of cocoa in the country.

Speaking on The Point of View on Citi TV, the Director of Public Affairs at COCOBOD, Fiifi Boafo, said among other things, the Board is assisting the farmers legally.

“COCOBOD is sponsoring a law to take into consideration what actually goes into the farm and the true value of it so that anyone moving in to take a cocoa farm and operating mining illegally there will have to pay the true value of the farm and this will serve as a disincentive”, he said.

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He thus encouraged cocoa farmers to seek support from COCOBOD when faced with the challenge.

“The farmers do not want to give out these farms but with their level of exposure to go to court and resources not available to them, they are handicapped. That is why they give in. Our sensitization is ongoing, and I think that it has helped with that realization that, this is not the way to go. We are also giving the farmers legal representation when they fall on us for support.”

Mr. Boafo admitted that the producer price of cocoa ought to be increased to cushion farmers, but rejected suggestions the low cocoa price in Ghana is contributing to the exchange of farmlands for galamsey.

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He disclosed that, farmers are selling farms between GH¢10,000 and GH¢25,000, but quickly cautioned farmers to desist from going into such paltry deals.

“The remuneration for cocoa farmers can be improved. In as much as the farmers’ income can be improved, I do not believe in the idea that based on economies of scale, that is why the farmers are giving out their farms. Sometimes it is out of ignorance and the wish to get things immediately without thinking about the effects of it”, he stressed.

The COCOBOD Public Affairs Director also stated that some traditional authorities are coercing farmers to give out farmlands.

“There are some traditional authorities who are actually aiding this because they tell farmers they are owners of the land, so it should be given back to them because they [chiefs] are being enticed by illegal miners. So they want to get the money quickly and eject these people from the land.”

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Meanwhile, the new producer price of cocoa for the 2022/2023 season has been pegged at ghs 800 per bag of 64kg, up from the previous price of ghs 660.

SOURCE theghanaianvoice



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GHS 800 Per Bag Is Way Too Small : Minority Rejects 21% Increase in Producer Price Of Cocoa For 2022/2023 Season

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Ranking Member on the Finance Committee, Dr. Cassiel Ato Forson says the 21 percent increase in the producer price for cocoa which has been pegged at GH¢800 per bag is too small.

“That is way too small,” Mr. Forson said in an interview Radio Ghana’s Behind the News Program.

Before this increase, Ghana had last increased its farm gate price in 2020; from GH¢515 to GH¢660.

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The Minority had earlier called for the farm gate price to be increased to GH¢1000 per bag.

Dr. Forson noted that the Cote d’Ivoire  increase was up to the equivalent of over GH¢850 per bag.

“We know in times like this, persons who should benefit most is the one whose currency has depreciated the most. Ghana’s currency has depreciated more than that of the Ivory Coast.”

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Despite the Minorty’s criticism, the recent increase was in line with recommendations from some observers in the industry.

The Ghana Civil-Society Cocoa Platform, for example, had proposed a 15 percent to 20 percent increment in the farm gate price of cocoa.

The increase in prices follows COCOBOD securing a syndicated loan of $1.13 billion for the 2022/2023 crop season.

SOURCE theghanaianvoice



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Today’s Newspaper Headlines: Thursday, October 6, 2022

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Today’s Newspaper Headlines: Thursday, October 6, 2022

Daily Graphic Newspaper

Today's front pages: Thursday, October 6, 2022

The New Crusading Guide

Today's front pages: Thursday, October 6, 2022

The Chronicle

Today's front pages: Thursday, October 6, 2022

Ghanaian Times

Today's front pages: Thursday, October 6, 2022

Source: www.GhanaCNN.com

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