HomefeaturedJUST IN: Govt secures Ghc165.2million loan to buy ‘tear-rubber’ V8 for all...

JUST IN: Govt secures Ghc165.2million loan to buy ‘tear-rubber’ V8 for all 275 MPs

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Government has secured a loan of 28million US Dollars or 165.2 million Ghana Cedis for the procurement of brand new tear rubber V8s for all 275 Members of Ghana’s Parliament.

Finance Minister Mr. Ken Ofori-Atta tabled the proposal for the MPs which appears to be a “scratch my back I scratch your back” after the MPs yesterday, Tuesday, July 6, 2021, also approved $200 million additional funds from the World Bank for the government of Ghana.

The 28million dollar loan fo cars is yet to be approved but all other preliminary approvals and documentation have been secured.

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Each member of Parliament is expected to receive US$100,000 or 590,000 cedis for the car purchase.

This is not new.

In 2018, te House of Parliament approved a $22.5 million car loan for MPs.

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The loan was secured from the Societe General Ghana (SGG) Limited.

The government of Ghana as well as the ex-gratia of the MPs is usually used as securities for the loan. Parliament approved it on June 14, 2018.

Each MP walked away with about $80,000 or the cedi equivalent of about GHc376,000.

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The move is to enable the lawmakers acquire brand new vehicles to facilitate their work as some MPs have to commute long distances to their various constituencies and back to Accra weekly.

All the MPs are expected to pay back the loan within four years starting from January 7, 2017 to January 6, 2025.

Source: MyNewsGh.com

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