September 23, 2020
Clickongh

Govt announces free electricity for the rest of the year

The Minister of Finance, Mr Ken Ofori-Atta has announced that all life-line customers will enjoy free electricity for the rest of the year.

In the announcement captured under the government’s Ghana Coronavirus Alleviation & Revitalisation of Enterprises Support (CARES) Obaatanpa Programme, the Minister stated that water would be provided for free in the next three months.

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The CARES Programme would also result in a reduction of the Communications Service Tax (CST) from 9% to 5% for the next six months.

Addressing Parliament today, Mr Ofori-Atta added that the government would establish a GH¢2 billion Guarantee Facility to support all sectors of business and job retention.

President’s CARES plan for the next three and a half years

(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

g. Retain free electricity for all life-line customers for the rest of the year.

About CARES

Shedding insight into the CARES programme in the mid-year budget review, Mr Ofori-Atta said it involves an investment of GH¢100 billion from 2021 to 2023, of which GH¢70 billion will come from the private sector.

He said: “Mr Speaker, to ensure that we do not only survive this pandemic but recover and thrive, this Government is rolling out a three-and-a-half-year recovery and revitalization programme.

“The Coronavirus Alleviation & Revitalisation of Enterprises Support (CARES) programme allows us to recreate our economy and set it on a course that we yearn for. Mr Speaker, I consider the CARES programme truly 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”.

Read his entire address below;

Final 2020 Mid-year Fiscal Policy Review – Ken Ofori-Atta

Source: General News

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