The Minister of Roads has announced how the E-levy money would be spent.
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Kwasi Amoako-Atta, Minister of Roads and Highways, has stated that if the controversial Electronic Transfer Levy is passed, the government will utilize it to seek loans for road infrastructure in the country.
Speaking on the floor of Parliament on Friday, the Minister hinted for the first time that the E-Levy might be securitized for loans to address road-related difficulties.
“In its wisdom, the administration has suggested the passage of the E-levy to bring in additional cash to build our country’s transportation infrastructure for all of us.” “As a result, the government is anticipating the passage of the E-levy, which will bring in more money that will be securitized and then used to finance bonds, if possible, to expand road infrastructure,” he said. Meanwhile, Deputy Finance Minister John Ampotuah Kumah announced on March 2, 2022 that the E-Levy will not be utilized as security for the government’s debt.
“We need money to build roads.” Our country has a significant infrastructure gap. The country received 78 million cedis per year from road tolls. “The e-levy was expected to bring in around 6.9 billion cedis.” If Ghana were to set aside 1.5 billion cedis from the e-levy for road construction, It indicates that the IPC’s capacity has increased. As a result, the claim that the E-levy will be utilized as collateral is false,” he remarked in Kumasi. Road Tolls The Roads Minister also stated that the state has not lost money as a result of the removal of road tolls. “Across the country, there are a total of 38 toll stations. Since the stoppage of road toll collection, the Ministry of Roads and Highways has not lost any revenue,” he revealed.
According to him, “the government is fully determined to use all forms of revenue into the road fund to build infrastructure in the country including revenues from tolls”. In response to an inquiry from Governs Kwame Agbodza, Member of Parliament for Adaklu, on the amount of money lost as a result of the directive, the Roads and Highway Minister stated that no revenue was lost. The answer, on the other hand, did not sit well with the Ranking Member of the Roads and Transport Committee, who pressed for more information.
He stated that, contrary to what the Minister would have the House believe, the collecting of road tolls generates some revenue for the government. Meanwhile, in what appears to be a total confusion at the camp of the governing party in Ghana, Roads and Highways Minister, Kwasi Amoako-Attah, and Deputy Finance Minister, John Kumah have given contrary indications of government’s plans for proceeds from the proposed Electronic Transaction (E-levy). Addressing the inaugural ceremony of the Ashanti Regional Youth Parliament on March 2, John Kumah, indicated that the revenue from the E-Levy will not be used as collateral for the government’s debt. According to him, the revenue generated from E-Levy will be a game-changer in the government’s quest to address the infrastructural deficit in the country. “We need revenue to construct roads. We have a huge infrastructural gap in our country. The road tolls were giving the country 78 million cedis annually.
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