The Finance Committee of Parliament has recommended the house to approve a request for the waiver of some taxes amounting to US$29,687,818.90 on materials, equipment, works and services to be procured for the construction of nine state-of-the-art technical and vocational training institutes in (TVET) in the country.
They include the import duties, import VAT, GETFund Levy, National Health Insurance Levy (NHIL), EXIM levy, Special Import Levy and Domestic VAT.
Parliament at its fourth sitting approved by resolution the contract agreement signed between the government and the Consortium of SUMEC Complete Equipment and Engineering Company Limited and Planet One Education Limited for an amount of €158,901,273.00 for the TVET projects.
The request for waiver is made up of US$11,874,508.90 on local purchases and US$17,813,310 on imports of material, equipment and vehicles to be procured for the project.
The project includes the establishment of 32 Technical and Vocational Centres of Excellence in the country, revision of TVET curriculum for 33 selected demand driven skill areas and construction of modern workshops, laboratories and classrooms with world class training equipment to cover 33 different trades.
The report by the Committee noted some benefits to be derived from the project to include an improvement in youth employment, especially in the rural areas, improvement in the relevance of and quality of TVET delivery and equipping youth with entrepreneurial skills.
“The project will ensure the adoption of a cooperative approach to skills training for the youth to create their own jobs, retrain current workers who have skill gaps and imbuing in master craftsmen the aptitude for productivity and credibility,” it said.
The government has identified the TVET sub-sector as one of its priorities for addressing poverty alleviation and a means of developing the technical and skilled human resource base which Ghana needs urgently as a key strategy for rapid economic growth.
It believes an improved TVET system will promote manufacturing, agro-based industry, mining, oil-gas and industrial sectors so as to enhance Ghana’s competitiveness in her participation in the emerging global market economy.
Consequently, the government through the Council for Technical and Vocational Education and Training (COTVET), is establishing the TVET project to improve productivity and competitiveness of Ghana’s skilled workforce and raise their income generation capabilities, especially those of women in low-income communities.
“Through the project, the government will cater for the demands of the job market by empowering the youth with requisite industry specific skills leading to excellent job opportunities,” it stated.
Source: Daily Graphic
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