21.3.07

Parliament okays 5.633 trillion cedis as Supplementary Appropriation for 2006

Parliament on Wednesday gave the government the green light to issue from the consolidated fund and other public funds an amount of 5.633 trillion cedis to supplement the finance of government operations during the financial ending 31st December 2006.
This followed the passage of the Supplementary Appropriation Bill by the House for the financial year, in pursuance to Article 179 (8) and (9) of the 1992 Constitution and the Standing Orders of the House. Mr Kwadwo Baah-Wiredu, Finance and Economic Planning Minister moved the motion for the approval of the House.
A report by the Finance Committee of the House observed that as a result of a non-establishment of the modalities for the Multi-lateral Debt Relief Initiative and other loan facilities that the country received during the year, they were not captured in the 2006 Budget Statement and Government Policy presented in November. "For the country to take advantage of these additional resources to enable the realization of the resource requirement to meet the Millennium Development Goals, it became necessary for the government to request for approval of a Supplementary Estimate, which was laid before the House on 13th July 2006 pursuance to 179 (8) and (9) of the Constitution," the report said.
The Committee noted the approval of US$20 million under Investment Activity for the Ghana@50 Celebrations, which was captured under the Office of the Chief of Staff and Minister for Presidential Affairs, adding that a total of 805 billion cedis was used for the payment of Tema Oil Refinery under recovery and a total of 577 billion was spent on discretionary payments.

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