Government to use E-Levy as collateral for loans – Roads Minister

Government to use E-Levy as collateral for loans - Roads Minister

Following the passage of the E-Levy in Parliament, Roads Minister Kwasi Amoako-Atta stated that the government intends to utilize it as collateral.

According to him, the government would use the E-Levy to earn more revenue, which will then be securitized and used to finance a bond for road development.

The minister stated this in parliament in response to a query from Kwame Governs Agbodza, an Adaklu MP, about whether or not road tolls will be reinstated.

“The government is totally committed to putting all available revenue into the road fund in order to expand road infrastructure in the country, including toll revenue.” Mr. Speaker, there are four main sources of revenue: one is the fuel levy, and the other three are toll booths from the DVLA sources and the vehicles that transcend on the corridors of our country.

Together, they account for roughly 6% of the population. The government, in its wisdom, has asked for the passage of the E-Levy in order to raise additional funds to improve our country’s road infrastructure. As a result, the government is anticipating the adoption of the E-Levy, which will bring in more cash that will be securitized and, if possible, used to create a bond to fund the construction of road infrastructure. Because toll money is integrated into the projected E-Levy, the government’s direction and policy is to bring in improved forms of collection,” he stated.

He went on to say that since the end of road tolls and the approval of the budget, the government has not lost any money.

READ MORE  KiDi named among top 100 Influential Young people in Africa, the only artiste from Ghana

“The Ministry of Roads and Highways has not suffered any losses since the cessation of tolls. Mr. Speaker, after the presentation of the 2022 budget statement, most road users refused to pay tolls at all the locations throughout the country. During that period, there was confusion between road users and the collectors. In order to save lives and property, a directive was issued for the suspension of the tolls. Mr. Speaker, with the approval of the 2022 budget, effectively road tolls have been zero rated and there will be no revenue in 2022 for road tolls,” Amoako-Atta added..”

Happy
Happy
%
Sad
Sad
%
Excited
Excited
%
Sleepy
Sleepy
%
Angry
Angry
%
Surprise
Surprise
%

Leave a Reply

Your email address will not be published.