Govt earmarks funds for financial sector cleanup – Minister assures

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The Minister of State-designate at the Ministry of Finance, Abena Osei Asare, has said government has earmarked money to pay customers and asset managers who had monies locked up due to the financial sector cleanup.

She had the longest drill during her vetting before the Appointments Committee of Parliament and has been providing some answers to the House on the financial sector of the country.

The Minister faced tough questions from Isaac Adongo, Governor Kwame Agbodza, and the Minority Leader, Dr. Cassiel Ato Forson, but she meandered her way through.

Answering questions by Dr. Ato Forson on the status of the financial sector cleanup and the payment status of customers of defunct financial institutions, the Minister said government has earmarked funds for that, but legal tussles are hindering progress.

She assured that, once the court issues are resolved, government will go ahead and disburse the funds.

On the issue of huge tax waivers the country gives year in and year out, the Madam Osei Asare proposed a comprehensive review of the tax exemptions, which she described as a necessary evil.

The Akufo-Addo government has been benefiting from over GH¢920 in seven years.

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