The Government of Ghana, as part of its agenda to privatize State-Owned-Enterprises (SOEs), has intensified its campaign by putting more of such enterprises on the divestiture list. The state enterprises under the hammer range from rubber companies to hospitability centers.
The intention of divesting such state assets among other things is to unlock the economic potential of Ghana by releasing resources of people, money and technology to be put to their best use and by increasing efficiency to achieve better living standards for all.
However, the Divestiture Implementation Committee (DIC), the body mandated to spearhead this ambitious plan is not looking good, relative to the accounting for proceeds received from divested state assets, which began in 1989.
Indeed the Auditor-General’s report for the year 2011 says proceeds from the sale of seven state companies have still not been paid into the Consolidated Fund as was directed, neither is there any clear indication as to where the proceeds are currently lodged.
According to the Auditor-General’s report on the Public Accounts of Ghana (Consolidated Fund) for the year ended 31st December 2011, GHc8.3 million accrued from proceeds of seven divested state assets had not been paid into the Consolidated Fund as required by law.
The report shows that even a payment of GHc4,050,000 made by the Zoomlion Group as part payment for Ghana Consolidated Diamonds Company Limited during the year under review, “had not been paid into the Consolidated Fund” as was directed.
Similarly, proceeds from the sale of state assets such as Tema Shipyard and Drydock, Atlantic Hotel, Takoradi, GIHOC Pharmaceuticals among others, amounting to about GHc4, 277,554.50 has still not been paid into the Fund.
The questions the Scandal has been asking since this matter came up are:
Source: GhanaWeb
