2011 Financial Policy to be read today

Mr. Cletus Avoka, Majority Leader, announced in Parliament on Wednesday that the Minister of Finance, Dr/ Kwabena Duffour, would be in the house on November 18, 2010 to present Ghana’s Financial Policy for the year ending 31 December 2011.

Mr. Avoka told the house that the time will be exactly 10:00 in the morning, and urged members to report early to listen to the reading for their own discussions, debate and approval.

Mr. Avoka also informed the house that chiefs from the Western Region were in the house to present a petition.

The chiefs from Western Region earlier held a press conference demanding 10 per cent of the petroleum revenue to be paid into the Western Region Development Fund.

They said wherever oil was discovered in any part of the country ten per cent of the revenue generated should be used for the development of the region where the discovery was made.
Meanwhile, three bills were read for the first time, including medical training and research bill 2010, Mental health bill 2010, and Traditional and Alternative Medicine bill.

A paper for an agreement involving the Republic of Ghana, Volta River Authority (VRA) and Clark Sustainable Resources Development Limited, for the harvesting, processing and marketing of timber from the Volta Lake (Ophase II), was also presented.

However, a request for a waiver of Stamp Duty on offshore syndicated receivables-backed Trade Finance Facility of $1,500,000,000 for 2010/2011 Cocoa Purchases by Ghana Cocoa Board was deferred.

A report of the Joint Committee on Finance and Mines and Energy on the Petroleum Revenue Management Bill 2010 was also deferred.

The house was suspended for one hour, at exactly 11.25 hours, in order to meet the chiefs from the Western Region. – GNA

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