Teachers Fund is facing liquidity challenges
Teachers Fund of GNAT
Liquidity challenges confronting Teachers Fund
The reasons behind the delay in disbursement of the Teachers Fund (TF) loan have been detailed for all members/teachers and other concerned persons.
BREAKDOWN OF REASONS BEHIND TF LOAN DISBURSEMENT
The Teachers Fund has exceeded its budgetry allocation for loans for 2023 by GH¢101.64 Million.
The next reason for the delay is the surge in demand for loans is as a result of affordability gained due to the 30% salary increment for 2023.
In addition, there are approved cheques worth GH¢190.01 Million yet to be released to the various GNAT district offices.
Again, there are GH¢7.92 worth of loans pending approval and disbursement.
Finally, new loans numbered 852 are yet to be appraised and approved.
LIQUIDITY CHALLENGES FACING TEACHERS FUND (REASONS)
Teachers Fund (TF) is currently facing some liquidity issues. Below are the list of liquidity issues TF is struggling with:
REASONS FOR DELAY OF DISBURSEMENT OF TF LOANS
There is an astronomical surge in demand for loans from Teachers Fund.
There are delays in releasing funds deducted by controller on behalf of the Fund (3months deductions in arrears).
Government is not able to pay for matured government bonds and treasure bills that the fund has subscribed.
SOURCE: Coverghana.com.gh
