$500m made available for payment of outstanding debt owed contractors

An amount of $500 million has been made available to be paid to contractors who are owed arrears, According to the Executive Secretary of the Association of Building and Civil Engineering Contractors of Ghana, Cherry Emmanuel Awusanya, the amount covers 90 percent of all arrears owed them.

He indicated that although the money is yet to hit their account, they have seen evidence of government’s efforts to pay them their monies. Explaining why their payment delayed, he said, Parliament was unable to approve the disbursement because it is on recess.

“As we speak now, the government has engaged us in connection with this outstanding arrears. Documents have been shown us and we have seen proofs of initiatives taken by the government to pay the arrears.

The GETFund formula of disbursement needs to go to Parliament for approval and parliament is currently on recess so it will be difficult for GETFund to go ahead and disburse the money without the approval of their formula.

“The money as we speak now is ready, readily available for disbursement to pay the outstanding arrears. Even though it has dragged, thank God that we have seen the light at the end of the tunnel.

Since the money is ready now, I believe there is hope. So no matter what, before the close of October, all outstanding arrears will be taken care of,” he said in an interview.

The Association had threatened to embark on demonstration over their outstanding arrears but Mr Awusanya says they are not going to embark on the demonstration.