Deputy finance minister and PAC Chairman clash over impact of banking sector clean-up

The Public’s Accounts Committee of Parliament has resumed sitting with several state institutions appearing before it.

Chairman of the Committee, James Klutse Avedzie and Deputy Finance Minister Abena Osei Asare have clashed over the impact of the Banking sector clean up on the Government revenue.

There is an excess of over 30-point-four million cedis in taxes owed by some of the defunct Banks which have not been retrieved.

Chairman of the Committee James Klutse Avedzi said the monies have been locked up since the banks are no longer operational.

However, Deputy Finance Minister, Abena Osei Asare said the protection of customers’ savings and investments outweigh any losses the government may have incurred due to the exercise.

The Commissioner in charge of Domestic Tax at GRA Edward Apenteng told the Committee that the authority is using its enforcement tools to collect the monies due to challenges in locating owners of the banks.