GH¢12 Billion To Be Allocated For Payment Of Allowances, Pensions & Other Incentives For Public Workers


The exemption policy will be reviewed to check the abuse of the policy which is leading to huge revenue losses to government.
  
The Minister of Finance Seth Terkper announced this when he presented the 2015 budget and economic policy to parliament. 

Local pharmaceutical companies and producers of exercise books will enjoy tax reliefs on their inputs to ensure the manufacture of pharmaceuticals and exercise books at a cheaper cost.  

Mr Terkper said with the large penetration of mobile phone usage and the increase in the use of data rather than voice calls, government will remove import duties on smart phones imported into the country.

The Minister of Finance, Seth Terkper says that GH¢ 12.3 billion, representing 9.6% of G.D.P will be allocated to payment of allowances, pensions and other incentives of public sector workers.  

He noted that the country will continue to use the electronic voucher payment system with regards to payroll requirements.  

Mr Seth Terkper said the increasing wage bill has prevented government from many obligations on pensions and payments of contractors. 

On Water, the Finance Minister said expansion works on the Kpong Water Plant which has been completed will serve people living at Madina, Dodowa, Prampram, Haatso and their adjoining communities. 

The Minister said three ferries have been procured to ease transport on the Volta lake. 

GBC