Skip to main content

Government releases GHS278m to support PFJ programme – Ken Ofori-Atta


Minister for Finance, Ken Ofori-Atta has said the government has so far released GHS278.57 million this year under its flagship programme Planting for Food and Jobs (PFJ) and is working to avert the issue of shortage of fertilizers under the programme.

Mr Speaker, at the end of 2021, an amount of GH¢86.31 million was outstanding, under the PFJ programme. This amount has now been released to MOFA for payment. This year, MOFA has requested for an amount of GHS485.90 million for payment under the PFJ programme. An amount of GHS278.57 million has subsequently been released to MOFA.

“Mr. Speaker, the Ministry of Finance has over the last five years (2017-2021) made budgetary provisions to enable the Ministry of Food and Agriculture (MOFA) allocate funds to cover all its programmes and projects, including the Planting for Food and Jobs (PFJ) programme. During this period, there has been, a cumulative release of GH¢2.47 billion to the Ministry of Food and Agriculture to pay for commitments under this programme,” the Minister said.

Ofori-Atta was responding to a question posed by Member of Parliament (MP) for Wa East, Godfred Seidu on the floor of Parliament on Wednesday, June 22, 2022, regarding when the Ministry of Finance will issue financial clearance to the Ministry of Food and Agriculture to clear the large debt owed partners and suppliers to ensure availability of subsidized fertilizer under government’s much-touted PFJ programme.

The Minister said the problem of shortage of fertilizer under the programme was occasioned by the geo-political tension between Russia and Ukraine is one thing that government is working assiduously to resolve and is doing so starting with the disbursement of GHS278.57 million out of the GHS485.90 million requested by the Ministry for Food and Agriculture for the programme. 

Labels:

Comments

Post a Comment

Popular posts from this blog

Fitch Solutions retains 2025 growth rate projection at 4.2%

 Fitch Solutions has reaffirmed its projection that Ghana’s economy will expand by 4.2% in 2025. This estimate slightly exceeds the International Monetary Fund’s forecast of 4% and the World Bank’s projection of 3.9%. The UK-based research firm attributes its outlook to historically high gold prices, which are expected to cushion the Ghanaian economy against a global slowdown triggered by rising tariffs. Higher gold prices are anticipated to strengthen government revenue, enhance foreign exchange earnings, and help sustain currency stability. The report also highlights that Ghana is relatively less vulnerable to increasing trade restrictions from the United States, given that its primary exports—gold and crude oil—are not directly affected by the tariffs introduced by President Trump’s administration. Moreover, the US constitutes only about 4% to 5% of Ghana’s total exports. In contrast, Ghana’s trade relations are more heavily oriented toward China and European countries, particul...
Post a Comment
Read more

BoG injects $20m into FX market to support 11 BDCs

  The Bank of Ghana (BoG) has injected $20 million into the foreign exchange market in the latest round of its forward FX auction targeted at Bulk Oil Distribution Companies (BDCs). The intervention, which benefited eleven BDCs, is part of the central bank’s broader strategy to stabilise the cedi and ensure price stability in the petroleum downstream sector. Held on Tuesday, April 29, the auction was priced at a locked exchange rate of GHS 14.28 to the US dollar, with bid offers ranging from GHS 13.85 to GHS 15.55. This move reflects the BoG’s continued effort to deepen forex liquidity and safeguard the domestic fuel supply chain against volatility in global energy markets. By directly supplying FX to BDCs, the central bank seeks to ease pressure on the interbank market, guarantee the uninterrupted flow of petroleum products, and mitigate the pass-through effects of exchange rate fluctuations on fuel prices. The $20 million disbursement forms part of a $120 million programme for th...
Post a Comment
Read more

Kenpong Travel & Tours Champions Breast Cancer Awareness During Customer Week

  As part of activities to mark Customer Week, Kenpong Travel & Tours, a leading travel agency in Ghana, is joining the global fight against breast cancer. October is Breast Cancer Awareness Month, and the company is passionate about spreading hope and support to those affected. At Kenpong Travel & Tours, we believe that travel and exploration can be therapeutic and empowering. That's why we're committed to supporting our customers and the broader community in the fight against breast cancer. We're proud to stand in solidarity with breast cancer warriors and survivors. At Kenpong Travel & Tours, we believe that everyone deserves a chance to explore the world and create unforgettable memories. Let's prioritize health, support one another, and fight against breast cancer," said Kennedy Agyapong, CEO of Kenpong Travel & Tours. Our efforts are focused on raising awareness, promoting early detection, and supporting those affected by breast cancer. We urg...
Post a Comment
Read more