A Financial Analyst, Sydney Casely-Hayford has warned government not to make any attempt to touch the Ghana Heritage Fund because it is incapable of effectively managing the money.<\/p>\n
He also urged the National Democratic Congress\u2019 (NDC) General Secretary, Johnson Asiedu Nketia, to stop dreaming about gaining access to the Heritage Fund.<\/p>\n
\u201cJohnson Asiedu Nketia should stop dreaming,\u201d he said.<\/p>\n
The Heritage Fund was set up by Parliament under the Petroleum Management Revenue Act 2010, to provide an endowment to support development for future generations when petroleum reserves have been depleted.<\/p>\n
Mr. Nketia on Friday proposed that government should consider using the Ghana Heritage Fund to solve the economic challenges and also to undertake developmental projects for the benefits of the future generation.<\/span><\/p>\n His suggestion was however dismissed by a former Deputy Finance Minister under the Kufuor administration, Professor Gyan Baffour, who stated that the amount in the fund will not be enough to save the nation\u2019s economy.<\/p>\n Mr. Casely-Hayford on Citi FM\u2019s<\/strong> The Big Issue<\/em> insisted, the basis on which the fund was created should be allowed to stand and materialize.<\/p>\n \u201cThe Heritage Fund belongs to the unborn children of the people of Ghana. It\u2019s the future generation\u2019s money and those of us who are here today should forget about touching it\u2026let\u2019s leave it alone, let it sit there.\u201d<\/p>\n He also mentioned he does not trust the NDC government to effectively manage the money from the Fund because so far, \u201cthis has been the worst managed economy in the whole of this country.\u201d<\/p>\n \u201cThere is no way that the people of Ghana are going to relinquish the Heritage Fund to be spent by the NDC government; to be used to provide modules under GYEEDA[Ghana Youth Employment and Entrepreneurial Development Agency], SADA [Savannah Accelerated Development Authority] \u00a0and all other things we don\u2019t have a clue where the money went,\u201d he explained.<\/p>\n The Financial Analyst opined that things are getting \u201ca little ridiculous\u2026and for the life of me, I do not understand why Mr. Asiedu Nketia should even think that we will even attempt to relinquish the Heritage Fund for this NDC government to use.\u201d<\/p>\n A leading member of the Trades Union Congress (TUC), Edward Kareweh on his part said, it is unwise to allow the nation\u2019s resources \u201cto be mismanaged today just as some of them were mismanaged in the past to the disadvantage of the future.\u201d<\/p>\n He described the proposal by Mr. Nketia as \u201cunacceptable\u201d and advised that the Heritage Fund should be kept and preserved while government considers other solutions to the problem.<\/p>\n <\/p>\n By: Efua Idan Osam\/citifmonline.com\/Ghana
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