Thursday, October 24

FINANCIAL IRREGULARITIES AND MISTRUST IN OUR SECTORS- HOW CAN WE WEED OUT THE CROOKS IN THE SYSTEM?





Currently, Ghana is an economy that is being held together with bailing wire and glue, strangled in a madman’s race to see what kills it first, corporate food and medical nightmares or the ever increasing march to global financial war. In the midst of all the challenges of labour unrest and the popular response from the security advisor to the government which generated heated augments among sections of the public, the president seems to be highly optimistic for a light at the end of this tunnel.
Brigadier General Nunoo Mensah over the weekend rebuked organised labour for their incessant strike threats saying they should “get out of the country" if they cannot bear the current economic hardship. His statement generated a lot of arguments among the public as some sections agrees with him others wouldn’t accept that as a solution to their hardship. 
 As the government is being flushed out of the flagstaff house with a heat like a rat being smoked out of its hole, government is turning on the heat on a long list of import duty-evading companies, who defrauded the state to the tune of 735million Ghana cedis.
The companies, both public and private as well as some ministries have up to the end of November to cough up all illegal monies.
A presidential task force headed by the Chief of Staff, Prosper Bani, uncovered the fraud in which companies connived with officials of the Customs Division of the Ghana Revenue Authority between 2005 and 2012 to escape payment of huge import duties at bonded warehouses.
Some of the major culprits cited in the report are the United Steel Company Limited, Hippo Group of Companies, Eurofoods, Trusty Foods and Movelle Company Limited.  Others are B5 Plus Limited, CCTC Ghana Limited and Dry Food Company Limited.
Some state agencies such as the Electricity Company of Ghana, Tema Oil Refinery and the Ministry of Communications have also been implicated in the report.
Dr. Clement Apaak says companies, who pay back the monies will still face a penalty albeit less severe.
Defaulting companies will face prosecution and will be named and shamed in the media.
He said to promote greater transparency, government will open a special account at the Bank of Ghana to receive the monies and periodically publish the amount collected so far.
A former minister for the Interior during the Kufuor administration, Hackman Owusu Agyemang, lauded government for uncovering the fraud, which he said had been consistently going on for years.
Nonetheless, having two or three immigration officers to guard a bonded warehouse makes the system open to easy compromise.
He suggested that such warehouses be set up in a secluded area and beefed up with more officers.
We heard recently the fraud at rent control department where officials operate without official receipts.
The startling revelations of how our resources are being managed kept on unfolding. Who then should we blame for our woes? Is it the politician or the ordinary citizen?

No comments:

Post a Comment

Luxury in the Clouds

  Ever thought of a hospitality experience in the clouds with greenery spreads over rolls of mountains? Then you are probably about to disco...