Senior Minister-designate, Yaw Osafo Maafo has said that the government will review its agreement with the International Monetary Fund (IMF).
Mr. Osafo Maafo noted that the IMF programme needs to be reviewed due to some lapses he identifies with the programme.
He made this statement when he appeared before the Parliamentary Appointments Committee on Friday, January 20, 2017.
According to him, "there are two main reasons why the IMF programme must be reviewed; President Nana Akufo-Addo came out with a Manifesto and that Manifesto, he needs physical space to move it. The current programme literally squeezes all the physical space out and therefore from the point of view of the programme of the NPP, the IMF programme will be reviewed. (2) The IMF programme works along achieving targets. The targets are set between the government and the IMF. So far, most of the targets have been missed. Therefore, whether we even ask for it or not; the IMF will themselves want the programme reviewed."
Also answering queries on taxation in the country, the Senior Minister-designate told the Committee that the government will also review some taxes in order to streamline the economy.
Key among the taxes that will be reviewed, he said, is the 17.5% of Valued Added Taxes (VAT).
He described that tax as "nuisance" and "unneccessary", adding that he will oversee the removal of the tax percentage.
"There are some taxes I describe as nuisance tax because the efforts of even doing the collection is not worth it. You create hindrances in production. And one such tax is the financial sector VAT tax of 17 and half percent . . . To me, it's an unnecessary tax and we should do away with it. It means a nuisance tax."
Mr. Osafo Maafo further threw light on his role as Senior Minister, explaining that he will play a coordinating function and assume an oversight responsibility over his colleague Ministers to ensure they focus and competently execute their duties to improve the economy.
He also defended his credentials, stating emphatically that he's a faithful tax payer and ready to declare his assets the third time to prove his competence for the position of a Senior Minister.
"I'm a very faithful tax payer. And on the declaration of assets, I've declared twice when I was Minister and MP, and I did both in and out. I'm sure one of the few who did it. I was one of these who were preaching the theory of declaring assets and making them public at the time . . . if your Committee confirms my appointment . . . I'll do it the third time," he told the committee.
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
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is he the best npp can offer.He has declared his assets twice and this should be enough ti call him an honest man.the crook
Men who know what they're about speak with confidence,wisdom and knowledge.It's refreshing to hear them speak!Ghana needs them to develop.Long live Nana Addo,and may your gov't be the best in history,God bless our homeland Ghana.
you call this good for nothing man incompetent who apologize to his son in public competent.osafo marfo has disgrace himself before his family
When I hear people like Osafo Marfo speaks, it gives me hope for the future.
Competency, talks for itself. It is not imagined or cooked up. Ghana deserves better. God has everything we need to be a prosperous and happy people. We must wise up and elect competent people to lead us. We should not elect people because of our abhorence of the peculiarities of some tribes. The hallmark of our elected officials should be COMPETENCE. That is what will give us the good life as a people. We must be OBJECTIVE!!!
Very simple and straightforward answers from the Honorable Yaw Osafo Manfo.Good show ,ndc SHOULD LEARN FROM THE BIG POLITICIANS
NYAME NYIRA WO NE ABAN NO NYINAA. NYAMENTI BIRI BIARA B3Y3YIE
Do you see the difference? Fiifi kwetey, seth tekper and that your incompetent assistant. You think you can run economy by just borrowing and ***barred word*** by hart. What bores me is that you allow GRA to disturb private sector and after collecting the revenue, you dont know where the money passes. NPP like Kuffour era will come and create worth and you guys will depend on uncivilised illiterates to capture power, only to come a mess up with your Team B ministers.I wish NDC never come to power again
Good show. Keep it up. Ayariga are you there? This is the time for you to learn.
well said Gablouk