Parliament debates National Stabilization Levy Bill
By Awudu Salami Sule
There was a heated argument on the floor of Parliament today
when the Finance Ministry laid the National Stabilization
Levy Bill before the august House.
The 5% levy was aimed at raising revenue for fiscal
stabilization of the economy and to provide for other
related matters.
Companies earmarked to pay for the levy included
Banks excluding Rural banks, Non Financial Institutions,
Insurance companies, Mining companies and communication
companies. The levy would be deducted for the year 2009 and
2010.
Parliament will tomorrow go on recess and will return in
October. The Finance ministry has therefore put pressure on
members of parliament to pass the bill before they go on
recess.
But the opposition members of the house have kicked against
the bill. According to them, the levy would caused
disincentive for investors.
In an interview with Ghanadot on the premises of Parliament,
Hon Ignatius Baffour Awuah, the Member of Parliament for
Sunyani East in the Brong Ahafo Region said, the new levy
would worsened the plight of the ordinary Ghanaian.
He revealed that since the affected sectors aimed at making
profit, they would demand more money from the consumer who
he said is already over burdened with hikes in prices of
goods and services.
He further said, the introduction of the National
Stabilization Levy would further drive away prospective
investors from the country and it may forced some of the
existing ones to fold up.
Hon Baffour Awuah has therefore call on the government to
withdraw the bill and come out with more humane one which
will boost investor confidence in the Ghanaian economy.
Ghanadot
