Business News of Wednesday, 23 October 2024

Source: www.ghanaweb.com

Here are the government businesses in jeopardy over Parliament suspension standoff

The Parliament of Ghana The Parliament of Ghana

The New Patriotic Party (NPP) Caucus in Parliament has been left frustrated by the decision of Speaker of Parliament Alban Bagbin to suspend the current meeting of the House indefinitely.

The leader of the caucus, Alexander Kwamina Afenyo-Markin, has accused Speaker Bagbin and the National Democratic Congress (NDC) MPs of conniving to adjourn the meeting of Parliament just to frustrate the business of the government in the two months before the election.

A report by myjoyonline.com has indicated some of the pending businesses of the Nana Addo Dankwa Akufo-Addo government that are in jeopardy over the suspension of Parliament meeting.

The list included the approval of the 2025 Budget and Economic Policy statement, approval of two Supreme Court nominees, as well as the tax exemption worth over $350 million.

Below is the list:

1. Approval of the 2025 Budget

The approval of the 2025 Budget is one of the key government businesses that is in danger of not being done.

Article 179 of the 1992 Constitution and Section 21 of the Public Financial Management Act, 2016 (Act 921) mandate the executive to present the nation’s budget to Parliament for approval.

The budget for the ensuing year is expected to be presented to the House before the end of November.

So, if the 2025 budget is to be approved, it should be presented to Parliament no later than November 30, 2024.

2. Revoking of L.I. on mining in forest reserves

The revoking of L.I. on mining in forest reserves was a key condition given by Organised Labour for it to rescind its planned strike action over the menace of illegal mining, galamsey.

The government presented a Legislative Instrument (L.I.) to Parliament to revoke the existing law, Environmental Protection (Mining in Forest Reserves) (Revocation) Instrument, L.I. 2462, which allows mining in forest reserves, in October 2024.

The revocation of L.I. 2462 will lead to a total ban on mining in forest reserves.

Per Article 11(7) of the 1992 Constitution, the Instrument comes into effect after 21 sitting days of Parliament unless it is annulled by the votes of two-thirds of Members of Parliament (MPs).

3. Approval of $250 million Ghana Financial Stability Fund

One of the government's businesses that is likely to be affected by the suspension is the approval of a $250 million Ghana Financial Stability Fund.

The fund was one of the urgent matters outlined by the NPP MPs when they triggered a recall of Parliament on August 1, 2024.

4. Approval of $250 million Ghana Energy Sector loan

A $250 million Ghana Energy Sector loan is also at stake.

The facility is a financing agreement between the Government of Ghana and the International Development Association for the Ghana Energy Sector Recovery Programme.

5. Approval of $350 million worth of tax waivers

Another government business which has been lingering in Parliament for a while is the approval of $350 million worth of tax waivers.

The government wants Parliament to approve tax waivers worth $334 million for 42 private companies.

One of the entities on the list was Santuo Oil Refinery, which the government was seeking to grant $164.6 million in tax waivers.

Other businesses in the House that are in jeopardy include the Budget Bill, 2023; Rent Bill, 2023; University of Local Governance and Development Bill, 2024; Environmental Protection Bill, 2024; Social Protection Bill, 2024; Intestate Succession Bill, 2022; Chartered Institute of Reconstruction and Insolvency Practitioners Bill, 2023; Ghana Industrial Property Office Bill, 2024; and the National Petroleum Authority Bill, 2024.

6. Approval of 2 Supreme Court nominees

The approval of 2 Supreme Court justices nominated by President Nana Addo Dankwa Akufo-Addo is also in jeopardy due to the suspension of Parliament.

Akufo-Addo nominated Prof Richard Frimpong Oppong, a legal academic and fellow of the Ghana Academy of Sciences, and Justice Sophia Rosetta Bernasko Essah, a justice of the Court of Appeal, for appointment to the apex court of the land.

The two nominees have been vetted by the Appointment Committee of Parliament but the committee is yet to send a report to the plenary for a decision to be made on their appointment.

BAI/AE

In the meantime, follow Ernestina Asante as she tours the Asokwa Constituency and speaks with MP Patricia Appiagyei in this episode of Campaign Trail on GhanaWeb TV: