Richard E A Sarpong, Father Casford, the Public Relations Officer and Convenor of Gallant Cadres of NDC says, mining communities are pictorial picture of poverty despite payment of huge mineral royalties to Ghana.
He mentioned that, huge mineral royalties are paid to the government of Ghana from January to March 2021, yet public debt stock soars high To Over Gh¢300 Billion.
The Mining Companies in Ghana pay taxes from mining our natural resources like gold, bauxite black gold etc for centuries. Yet mining communities are pictorial picture of poverty. Virtually no infrastructural development have taken place in Obuasi, Tarkwa and Prestea.
Goldfields Ghana, Tarkwa Site has presented a cheque of GHS 120.7 million ($20.9 million) to the Ministry of Lands and Natural Resources as the government’s 10% dividend for the 2020 financial year.
This excludes the 3-5% royalties payment, corporate tax and employees tax. Imagine how much the government will receive in total, considering all these taxes.
The Gallant Cadres of NDC is calling on all Ghanaians to imagine the total amount that goes to the government from all the other mining companies in Ghana, including:
1. Goldfields Damang Site
2. AngloGold Obuasi Mine
3. AngloGold Tarkwa Mine
4. Newmont Ahafo Mine
5. Newmont Akyem Mine
6. Golden Star Bogoso Mine
7. Golden Star Wassa Mine
8. Perseeus Gold Mine
9. Asanko Gold Mine
10. Adamus Resources
11. Nsuta Manganese Mine
12. Awaso Bauxite Mine
According to them, the Ghana government has been receiving lots of revenue from the mining companies but nothing can be shown in these areas in terms of infrastructure development, especially the dilapidated road networks.
Gallant Cadres of NDC urge Ghanaians to continue to follow up until we get the total revenue generated from mining activities and how the government will commit to spending a portion to develop these mining areas. The mining towns deserve better!!
“The truth is Sika No Asa….
This is the economic situation of Ghana currently. The economic picture of the country looks gloomy and it is about time we embrace ourselves with more hardships.
With a public debt of 296. 1billion and a debt to GDP ratio of 76.1% it makes our debt levels unsustainable and statiscally each Ghanaian owns a whopping 10,000gh cedis.”
“With the current economic picture public sector workers are not expected to have any rise in wages and salaries.”
“Government expected revenue target is pegged at 72billion cedis coupled with interests on payments plus compensation to workers at 61.2billion. It is expected that government will only have 10.5billion gh cedis for capital expenditure which is woefully inadequate for a country like Ghana with a population of over thirty million. Government has no choice than go to the capital market to raise bonds in excess of 5billion dollars to support budgetary allocations.” The explained.
They argue that, the better managers of the economy have rather ballooned our debt to escalating levels and more than all the regimes combined together since independence. A government which touted itself to build the economy on production rather than taxation are doing the latter by putting more burden on the already burdened Ghanaian taxpayer.
The better managers of the economy are finding it difficult to come out with alternatives to raise revenue and are resorting to nuisance taxes a phenomenon which in opposition they blamed the previous administration.
“I guess they should go to the venerable Seth Tekper under the previous administration for tutorials on smart borrowing.”
“Under smart borrowing the government of Ghana allowed government institutions to borrow on their own balance sheets to finance capital expenditure. A good example of smart borrowing is the airport terminal three and the Tema port expansion ie GPHA/MPS.”
“At a time when businesses are recovering from post covid-19 effects government has rather worsened the plight of these businesses with heart wrenching taxes.”
“Ghana is indeed bleeding under these deceptive and 419 crooks.
We should also not forget about inelastic prices of fuel and its cascading effects.”
“Also, we will be looking forward to seeing how the government will deal with these Chinese guys engaging in small-scale mining and smuggling billions of dollars to China through dubious means.”