The Communications Director of the governing New Patriotic Party (NPP), Yaw Buaben Asamoa, has dissented on the views expressed by former NPP Member of Parliament for New Juabeng South, Dr Mark Assibey-Yeboah to the effect that the government should abandon the E-levy proposal and go to the International Monetary Fund (IMF) for support because the local economy is not in the best shape.
Mr Buaben Asamoa said Dr Assibey-Yebaoh is entitled to his views on this matter but he disagrees with position taken by the former Chair of the Finance Committee of Parliament.
He explained on the New Day show with TV3’s Johnnie Hughes on Wednesday February 2 that when the National Democratic Congress (NDC) went to the IMF in 2015, the then government was given 913 million dollars to support the economy.
In making a case for Ghana to return to the IMF, Dr Assibey-Yeboah believed that a return would rescue Ghana’s struggling economy.
“Without a doubt, I think we should be placing a call to Washington if we haven’t really done that. We are just not going to ask for the funds just because E-levy has been passed or not. E-levy will just bring about GH¢5 billion. We are in a deep hole of our tax revenue and facing difficulties, so going to the Fund will give us some support.
“So there is nothing wrong with going to the Fund. Ghana is a member of the IMF so what is wrong going to ask for support when we are in difficulties to go and pool resources. If I was the finance minister, I will be convincing the President that it is about time we went back,” he told Accra-based Citi FM.r. Mark Assibey Yeboah also added that the revenue expected to be accrued from the E-levy is to ensure the economic stability government is eyeing.
He further cast doubt on the government’s ability to raise the projected GH¢6.9 billion target, saying the maximum the government can raise from the controversial e-levy is GH¢5 billion.
“The GH¢6.9 billion target cannot be realized. There are a lot of exemptions so, in my estimation, the maximum amount we can get from the E-levy is GH¢5 billion, and that is less than a billion dollars, so I do not think that the E-levy is going to be a panacea to our revenues. Going to the IMF will ensure some stability and above all, we are going to get some $3 billion”.
However, Mr Buben Asamoa who is a former lawmaker for Adentan said the proposed E-levy in the 2022 budget, if passed, will generate over a billion dollars to the government hence, there will be no need to stampede the Bretton Woods institution for support.
“That is [Assibey-Yeboah’s] opinion, he is entitled to it but I will disagree with him. When the NDC went to the IMF in 2015, the 16th time we were going to the IMF , they were given 930million dollars. The performance base was cut spending, cut waste. These are the performance indicates. Over three years 913 million dollars, less than a billion dollars . E-levy can raise a billion dollars.
“This is his opinion.”
By Laud Nartey|3news.com|Ghana