The Government of Ghana must ensure transparency in the disbursement of the GHS600million stimulus package intended to support small and medium scale enterprises (SMEs) following the impact of the COVID-19 on their businesses, Dr James Asare-Adjei, former President of the Association of Ghana Industries (AGI), has said,
He said the package must go to businesses that have been the hardest hit by the pandemic, especially those in the manufacturing sector of the economy.
“Don’t distribute the money in pieces, Identify areas where the rippling effects will be huge and you will see the turnaround in the economy,” he said on the Key Point programme hosted by Abena Tabi on TV3 Saturday May 2.
President Nana Addo Dankwa Akufo-Addo, announced during his 7th COVID-19 national address to Ghanaians on Sunday, 19th April 2020, that Government will start disbursing the GH¢600 million stimulus package to SMEs in May this year as part of efforts to deal with the effects of the COVID-19 on businesses.
He explained that the GHS600m forms part of the Coronavirus Alleviation Programme.
“I know the effects of the measures to contain the virus have been difficult for many, and that is why I mandated the creation of the GH¢1.2 billion Coronavirus Alleviation Programme to support households and businesses.
“Out of this amount, six hundred million cedis (GH¢600 million) of assistance is being provided to micro, small and medium-scale businesses. I expect disbursements of the six hundred million cedis to start in May,” he stated.
Dr Asare-Adjei said: “The government must be transparent in disbursement of GHS600m. It must go to where they actually need.”
He, however, commended the government for earmarking the amount to support businesses.
He explained that this will cushion these SMEs and make them recover form the economic shock following the pandemic.
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