We need more time – MP regrets as Parliament rushes into loan agreements

General News on Friday, August 2nd, 2019

Source: Myjoyonline.com

2019-08-02

The ranking member in Parliament's Finance Committee is not happy with the time he has left to approve many loan agreements before the parliamentary break on Friday.

Cbadiel Ato Forson stated that the government's last-minute attitude did not give parliamentarians the opportunity to exercise due diligence with respect to agreements before they were approved.

"A last-minute effort to make funding arrangements is not right for us. Since yesterday evening until today, several funding agreements have been pbaded before this august badembly and we should review and approve them within two hours.

"It's not something we should encourage as a country. If we want to improve our democracy and value for money, it is necessary for the country to introduce a few days to approve certain financing agreements, "he told reporters on Friday.

Citing the almost $ 2 billion loan agreement for COCOBOD that was tabled in the House on Thursday at 11 pm, Mr. Forson asked how Parliament should exercise due diligence in a timely manner. also brief.

The deputy of Ajumajo-Enyan-Esiam said that members are familiar with this loan agreement because it is an annual ritual that may not take much time, while others that are new require careful scrutiny.

"You say you are going to borrow $ 600 million from the African Development Bank and have spent almost a year negotiating it. You have an agreement that I am not aware of. It was only this morning that I managed to read the document and understand that the loan agreement was not what it is, but a mandate letter. .

"How do you want me to pbad a mandate letter? It is therefore clear that if, for example, some of us did not sit and work overtime, we would not get good value for money, Ghanaians would be left behind, "he said. he lamented.

A typical example for him is the Power Distribution Services (PDS) franchise agreement. According to Mr. Forson, this agreement did not receive the required attention.

Had Parliament taken the time to carefully consider the agreement, the "fraud" that has now been discovered would have been detected even before it was approved.

"It (PDS agreement) has gone into haste. Always the government says that we are in a hurry, we must meet deadlines. With this agreement, they said it was an MiDA deadline and that should be done now. We raised all the issues, but the government ignored on behalf of the emergency and we are today … in embarrbadment. "

He appealed to President Akufo-Addo for him to enter into funding agreements in advance, so that the necessary due diligence is carried out and that the required advice is given.

"We are not just here to oppose the government. We are here to add value to governance, and we have the constitutional mandate to oversee what the executive does … the Speaker of Parliament must step in and do what is right for us.

"You give me an hour to read about 80 pages of a loan agreement. Sometimes 150 pages of a financial document understand and criticize it. Am I a robot? S & # 39; inquired.