The government has said it would review the Petroleum Management Act to allow for the use of the Heritage Fund to finance the free senior high school (SHS) policy scheduled to start in September 2017.
The Senior Minister, Mr Yaw Osafo Maafo, who made this known on the side-lines of the Graphic Business-Stanbic Bank Breakfast Meetin in Accra on Tuesday, said the Heritage Fund which receives nine percent of the country’s annual petroleum revenue would be used to sustain the program.
“We have to make an amendment to say that X percent of the heritage fund, or the petroleum fund will be used to support second cycle education. If we think that industry requires a certain stimulus that will enable jobs to be created and you are creating a job to build Ghana, you can look at it and put in a certain amount. We are [also] looking at agriculture.”
“Whatever is important to support the future development of this country… particularly when you talk about the youth; the youth is the future, heritage is the youth, we would make certain relevant amendments to make sure that the economy benefits from the petroleum act,” Osafo Maafo said.
President Akufo Addo over the weekend announced that government will fully implement the free Senior High School (SHS) policy from the 2017/2018 academic year which starts this September.
According to a report by the Business and Financial Times newspaper, the free SHS programme when implemented would cost an estimated GH¢3.6 million yearly.