The Finance Minister, Mr. Ken Ofori-Atta, has intimated that, government has paid GH₵12 billion in excess energy capacity charges they inherited in 2017 in order to keep the regular flow of electricity in the country.
The Finance Minister, whiles presenting the first quarter budget statement for 2021 to parliament made this statement where he posited that, despite the debt the current government met, it made sure lights were kept on and added that, these are some of the significant micro fiscal gains which were achieved.
Among other achievements by the current government, Mr. Ken Ofori Atta indicated that, government used an amount in excess of GH₵1.3 billion in supporting households with electricity and water subsidies as part of COVID-19 relieve measures for its citizenry.
Highlighting on the central government’s economic classification for the year 2021 with regards to proposed and projected revenue for the energy sector, the budget states that, The Energy Sector Levy Act (ESLA) proceeds had a projected revenue of GH₵3,238,589,926 but has seen a proposed amount of GHC647,717,985.
The budget states also that, Energy Debt Recovery Levy was projected at GH₵ 2,169,670,000 and has is now at a proposed amount of GH₵433,934,000; Public Lighting Levy was also projected at GH₵273,046,250 and is now proposed at GH₵54,609,250, National Electrification Scheme Levy GH₵176,676,538 as against a proposed amount of GH₵35,335,308, Price Stabilization & Recovery Levy projected at GH₵619,197,139 as against a proposed amount of GH₵123,839,428.
These proposed amounts form part of the projected 2021 first quarter Total Revenue and Grants which will be at GH¢13.3 billion.
The Finance Minister, also states that, government when voted into power come December 7th will continue to implement measures and expand access to the reform of the energy sector as part of measures to see significant improvement in the sector.
According to the Minister, this measure was to see the quality of lives of Ghanaians improve and ensure to move Ghana beyond aid.
“Mr. Speaker, we are confident that because of God’s guidance and support, the President’s leadership, and our performance, Ghanaians will return the NPP government to power for ‘4 more for Nana’ to do even more and also to continue with our economic revitalization and transformation programme; to improve the quality of life for the Ghanaians people who, at the end of every decision, all program are the ones who matter and who should reap the dividends from the transparent and democratic governance that the NPP is offering.”
The Finance Minister, then appealed to the August House by resolve, to approve an amount of Twenty-Seven Billion, Four Hundred and Thirty-Four Million, One Hundred and Eighty Thousand, Five Hundred and Twenty Ghana Cedis (GH¢27,434,180,520) as expenditure in advance of appropriation to carry on the services of the government until the expiration of three months from the beginning of the 2021 Financial Year.
He also requested for the approval for the issuance of sovereign bonds of US$3 billion with the option to increase it to US$5 billion should market conditions prove favorable.