Renowned economist, Kwame Pianim has criticised the 8th Parliament over the passing of three new taxes.
Speaking in an interview on JoyNews’ Newsfile on Saturday, he noted that the current Parliament will go down into history as one of the worst for its lack of due diligence.
Mr Pianim explained further that the legislators fail to ask the relevant questions in the House. However, pass all borrowing bills before the House that have led to the country’s economic disaster.
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“This Parliament is going to go down in history as one of the worst Parliament we’ve [Ghana] has ever had,” he stated.
According to Mr Pianim, the government is interested in procurement because the more projects the country has, the more opportunities for people to make money.
“COCOBOD project and they are not even wondering about how bankrupt they put the organisation in – they are thinking about building a new headquarters. It doesn’t make sense,” he cited an instance.
He further entreated President Akufo-Addo not to assent to the three new revenue measures.
On April 1, Parliament passed three revenue measures in the government’s attempt to generate approximately $4 billion in internal revenue.
The measures, according to government, will enable it complete processes to secure a $3 billion International Monetary Fund (IMF) programme.
However, the business, traders associations and some Ghanaians have been agitated about the passing of these new measures saying it will lead to the collapse and relocation of businesses in the country.
Adding his voice to this call, Kwame Pianim stated that it is because the bill was not well thought out by Parliament.
“After the Ministry of Finance has done its work, obviously, they have to have an economic model which says after the domestic debt exchange what is the economy looking like? What is it going to be?
“Are we going to have depression and low economic growth for the next three or five years and if so what is going to happen to government’s revenue? Nobody seems to be looking at that and then it goes to Parliament.
“We expect parliamentarians to consult their people, think about it and ask questions. They obviously don’t they just pass them so our last hope is for the President to say thank you Parliament I will not sign this bill because it is not good,” he said.
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