Business News of Sunday, 18 November 2018
The Finance Minister, Ken Ofori-Atta has stated that government will ensure efficient public spending in 2019 by enforcing the Public Procurement Act (PPA)
Mr. Ofori-Atta explained that the PPA has the capacity and legal backing to assess all sole-sourced projects in the country.
Sole sourcing of projects have over the years become a heated political issues due to suspected over bloating of projects to benefit some contractors.
According to the Finance Minister, Ken Ofori Atta the move is necessary to maximize domestic resource mobilization and increase efficiency in public spending.
“ We intend to maximize domestic resource mobilization and increase Tax Revenue-to-GDP ratio to levels in line with our peer Lower Middle-Income countries; implement expenditure efficiency and rationalisation measures to increase efficiency in public spending and free more fiscal space for growth oriented and job-creating programmes”, he stated.
He added, “We will enforce the Public Procurement Act and ensure sole sourcing is minimized to promote competition and efficiency in public spending, thereby, promoting value for money”.