By Eugene K. Davis
The Finance Minister, Ken Ofori-Atta is seeking an approval of GH₵1.2bn from Parliament to assist government to tackle the coronavirus, aimed at supporting businesses, frontline health workers and households.
Presenting the Coronavirus Alleviation Programme(CAP)to Parliament’s Finance Committee, Ofori-Atta, indicated that the CAP expenditure plan is to be financed by resources from the Contingency Fund once the proposal to lower the Ghana Stabilisation Fund(GSF) cap and then transfer the excess funds over the new GSF cap from the GSF to the Contingency Fund has been considered and approved by the Finance Committee.
The main objective of the CAP is to protect households and livelihoods; support micro,small and medium-sized businesses,minimize job losses and provide additional funding for promotion of industries to shore up and expand industrial output for domestic consumption and exports.
The expenditure plan for the CAP will cover an initial amount of GH₵1.2bn representing the cedi equivalent of the excess amount of US$218.95m.
Furthermore, the initial amount has been categorized in three folds; with 600m going to support businesses, 280m earmarked for households as regards the provision of food, water and sanitation and the rest taking care of frontline health workers, Ken Ofori-Atta explained at the Finance Committee meeting on Wednesday.
Ghana’s current case count has risen to 313, with six deaths as of Wednesday, 8th April 2020 according to the Ghana Health Service.