No clarity in source of funding for last-minute projects - Terkper

Former Finance Minister Seth Terkper has expressed concern over last-minute projects by the government ahead of the December polls.

He warns that these ambitious projects could adversely affect the next NDC administration.

His sentiments follow the recent sod-cutting ceremonies by President Akufo-Addo for beginning some projects across the country.

According to Mr Terkper, the lack of clarity for the source of funding for these projects is problematic.

He told Francis Abban on the Morning Starr “if you look at the nature of the projects for which there is going to be sod-cutting, the Mahama administration will inherit them. And I’m saying that the experience with the gang of six which was earlier the gang of four, tells us that you must be prepared for that.”

When asked if the situation would put any new government in an extra debt situation, Mr Terkper noted it was not only about the debt situation but the outcome would make the correction very difficult.

He indicated “there may be some source we don’t know, it may be disclosed when the expenditure and the appropriation of the budget before the budget can be read is presented to parliament. There are opportunities for us still when parliament reconvenes sometime maybe in October for the final sitting for us to see whether these things will be done. Otherwise, all I’m saying is they are not in the fiscal framework, we can’t see any plan for them.”

“What portion is going to be completed before the end of the year, will the contractors be paid, if they will be paid, from where from what sources? If they are not going to be paid it will increase arrears and we are going to inherit it. These are bare facts,” he noted.