We members of Good Governance Advocacy Group Ghana (GGAGGH) have learnt with much excitement the refusal of Parliament to approve the request for tax concessions amounting to $982 million in respect of the proposal for the Tema Port Expansion Project, development of a container terminal and port access road that the Meridian Port Services Limited (MPS) wants to undertake.
For us, as a group, we think that both minority and majority in long while have activated their oversight responsibility given them in the 1992 constitution as overseers or watchdogs.
We were overjoyed when the MAJORITY teamed up with the MINORITY in Parliament to demand for the necessary details of the contractual agreement to guide them in their decision making whether they would approve or do otherwise.
As a group, we think that giving those exemptions to foreign companies especially to Meridian Port Services (MPS) is nothing but hawking the fortunes of this country for nil.
We were shocked to see the concession agreement between the Ghana Ports and Harbours Authority (GPHA) and Meridian Port Services (MPS) that was laid before parliament which proposes to allow for MPS, the later, to DESIGN, FINANCE, CONSTRUCT and MANAGE the new Harbour infrastructure with modern container terminal.
What confusingly amazes us the most is about the aspect that talks about exclusion or exemption of payment of corporate income tax for 10 years after date of first commercial use of facility and a reduced corporate tax of 15 per cent after 10 years for five years and an exemption from tax on dividend for 20 years to both resident and non-resident shareholders.
The quick question is who are the resident and non-resident shareholders?
We without mincing words are reminding the people of Ghana about the similar contract between GPHA and MPS in about a decade ago which did not go through parliament.
Our research as a group has resulted in very serious findings about the said company (MPS) that is trying to enter into that agreement with the Ghana Ports and Harbour Authority hence our desirous wish to unequivocally pray Parliament to honourably disapprove of the treacherous, fruitless and nation wrecking proposal before the August house.
We for the sake of furnishing the general public with enough details on this matter will hold a press conference within this week. LONG LIVE GHANA
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