The minister for Roads, Hon. Amoako Atta in his quest to explain the importance of the electronic transaction levy (E-levy) on building road infrastructure, and to convince citizens to support and pay, has ended up derailing all the effort made so far towards that enterprise.
The minister, who was answering a question in Parliament on how the Ministry is making up for the short fall from the abolishment of road tolls, explained that, government is looking forward to the passage of the E-levy to build more roads.
He first state that, the abolishment of road tolls did no harm to the road kitty.
“Government is fully determined to use all forms of revenue into the road fund to build road infrastructure in the country, the revenue from tolls. Mr. Speaker, there are four main sources, one is what we get from the fuel levy, the other three sources are from the toll booths, from the DVLA sources and the vehicles that transcend on the corridors of our country.
According to him, the E-levy is likely to be used as a securitized fund to secure more bonds of massive road construction.
“The Government in its wisdom has called for the passage of E-Levy to bring in more revenue to build the road infrastructure of our country. So, government is looking forward to the passage of E-Levy that will bring in greater revenue that would be securitized and then used to raise a bond if possible, to build the road sector infrastructure. So, government direction and policy is to bring in better form of collection because the toll revenue is built in the proposed E-Levy,” he said
Hon Amoako Atta’s explanation is a disaster of a comment. The main crux of the introduction of the E-levy, according to the finance minister, is to move away from seeking loans and bonds outside for development. With the current debt to GDP ratio of Ghana, it is almost an abomination to go for loans.
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The E-levy is supposed to be a home-grown solution for getting revenue.
The reference that the E-levy would be used to as collateral for securing more debts is nothing but a pure abnormality.
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