Ato Forson

Energy sector, a “ticking time bomb” – Finance Minister

3Mar

By ghnewsexpressNo Comments

Business

Energy sector, a “ticking time bomb” – Finance Minister

Dr Cassiel Ato Forson, the Finance Minister, says Ghana’s energy sector is facing a critical financial crisis, described as a “ticking time bomb,” largely due to non-cost reflective tariffs and unsustainable energy subsidies. He highlighted the sector’s dire financial state, noting that the projected cumulative financial shortfalls were expected to exceed nine billion dollars by 2026, even with government’s interventions. Dr Forson said this on the first leg of the two-day National Economic Dialogue ongoing at the Accra International Conference Centre. “The energy sector in Ghana has become a ticking time bomb. More than two per cent of GDP every year. Every year, the profits of the energy sector will probably fall back on the legal side. For citizens, we require radical measures,...

Business to see relief as Ato Forson promises VAT reforms

14Jan

By Enoch Ntiamoah SiawNo Comments

Business

Business to see relief as Ato Forson promises VAT reforms

The Minister of Finance designate, Dr Cassiel Ato Baah Forson, has promised to carry out significant reforms in the implementation of the Value Added Tax (VAT) . He said this will give huge relief to businesses that are suffocating under the presented chaotic and distorted implementation of the VAT. Dr Ato Forson was speaking during his appearance at the Appointments Committee of Parliament on Monday. He said concerns raised by the business community so far include unpredictable tax policy and administration such as distorted VAT regime. “To this end the government will undertake a comprehensive review of Ghana’s VAT regime as casptured in the manifesto of the National Democratic Congress (NDC), Dr Ato Forson said. He said this is intended to ...

Government will abolish E-Levy in its first budget- Dr Ato Forson

14Jan

By Enoch Ntiamoah SiawNo Comments

News, Technology

Government will abolish E-Levy in its first budget- Dr Ato Forson

The Minister of Finance designate, Dr Cassiel Ato Baah Forson, has promised to abolish the e-levy in the first budget of the government. Speaking during his appearance at the Appointments Committee of Parliament on Monday, he said “my position on the e-levy is not new. It has not changed and I still stand by my position to abolish it”. Dr Ato Forson said his position on the e-levy does not mean that he does not appreciate the need for revenue. He added “however, the e-levy is neither a direct, an indirect or excise tax”. Dr Ato Forson said e-levy retards progress towards financial inclusion and a cash-lite economy. “When approved, I will abolish the e-elevy in my first budget”, he said. He said his topmost priorities include working very hard to lower prices, stabilise the...

President Mahama Names Dr. Ato Forson as finance minister designate

9Jan

By ghnewsexpressNo Comments

Business

President Mahama Names Dr. Ato Forson as finance minister designate

President John Dramani Mahama has named Dr. Cassiel Ato Baah Forson as Minister for Finance designate. Dr. Ato Forson has previously served as the Deputy Minister for Finance during the first term 2012-2017 of the President. His appointment was announced alongside two other ministerial nominations for Energy and Attorney General. Dr. Forson brings a wealth of experience to the role, having previously served as Deputy Minister for Finance during President Mahama’s first term. He previously served as the Minority Leader in the eighth parliament and as the ranking member of the Finance Committee, where he spearheaded the minority’s financial policy positions. Dr. Forson boasts a distinguished career marked by academic exce...