Parliament exempts materials projects for technical universities | Parliament

Parliament approved the abolition of import duties, VAT on imports, GETFund tax, NHIL on import, tax on exim and Special tax on the import of USD 26,966,083 on the project materials and equipment.

The exemption for materials and equipment of the project to be acquired concerns the rehabilitation and upgrading of equipment in technical universities, polytechnic institutes and technical and vocational training centers, under an agreement concessional loan between Ghana and the Export-Import Bank of China.

Dr. Mark Assibey-Yeboah, Chairman of the Finance Committee who presented his report, said that in 2010, the government requested funding from the People's Republic of China to finance the rehabilitation and development of ten technical institutions. , five polytechnic institutes and the Center's technical control unit. Ghana Education Service (GES).

He added that the scope of the work had subsequently been extended to thirteen technical institutions and ten polytechnic / technical universities.

He said the proposed intervention was part of ongoing measures taken by the education sector to develop equitable access and quality of technical and vocational education and training (TVET) in response to a considerable social demand.

Mr. Mark Assibey-Yeboah also stated that the project was designed to support the government's efforts in the context of human capital development priorities and to address key low-quality skills development issues generated by the human capital sub-sector. technical and vocational education and training in the country. .

He said the project's objectives are aligned with Ghana's development strategy and Goal 4 of the 2030 Sustainable Development Goals, which focuses on skills development and development. Improved competitiveness of goods and services produced in the country through the improvement of human capital production. for growth and poverty reduction.

He added that the project also fits in the Education Sector Development Plan (ESDP) (2016-2020), which focuses on the improvement of the education sector. 39, fair access and quality of TVET.

Dr. Assibey-Yeboah also said that the goal of this plan is to improve the employability of young Ghanaians by providing them with the skills and competencies required for self-employment and formal employment.

He added that his goal was not only to help reduce youth unemployment, but also to encourage entrepreneurship among Aboriginal people and provide industries with Ghanaian workforce needed to make them globally competitive.

He further stated that the Government of Ghana is fully responsible for the project cost of financing component including taxes and other levies that may be imposed on the country with respect to the supply and purchase of equipment and materials. Equipment necessary for the execution of the project.