President John Dramani Mahama signed the Worth for Cash Invoice into legislation at this time. The federal government claims the invoice will essentially rework public procurement and curb rising contract prices within the public sector.
The ceremony befell at Jubilee Home in Accra, after which the Minister of Finance, Dr Cassiel Ato Forson, briefed the press.
Dr Forson mentioned the brand new laws would make sure that single-source procurement preparations had been topic to rigorous scrutiny.
“Which means the Republic of Ghana and the Authorities of Ghana will, for the longer term, scale back public sector spending, which has really elevated on account of over-inflation in authorities contracts,” the minister mentioned.
Explaining the operational construction, he mentioned: “What we want to do sooner or later is to arrange an workplace and all single-source procurements should undergo the workplace to get worth for cash.”
Dr Forson identified that whereas the Ministry of Finance’s authorized division had beforehand been liable for finishing up value-for-money assessments, it lacked the mandatory expertise and capability to cope with this job successfully.
“So what we’ve carried out is to correctly institutionalize the value-for-money workplace,” he informed reporters.
The Minister of Finance recalled that President Mahama had promised to ascertain a Worth for Cash Authority as a part of his election manifesto. “And at this time, with the passage of Parliament, he fortunately agreed to this,” he added.
Dr. Forson used the event to guarantee Ghanaians that the specter of contract over-inflation within the public sector can be curbed with the signature of the President.
He outlined a transparent roadmap for implementation. “What we’re going to do is spend the following six months correctly structuring the workplace, appointing a frontrunner for the Worth for Cash workplace and assembling a technical crew to make sure the legislation is applied.”
The Minister predicted that the workplace can be totally operational by January 2027. “We subsequently imagine that it will likely be potential from January 2027. This workplace shall be totally applied and Ghanaians will understand the necessity for an economical workplace.”
Drawing on his worldwide expertise, Dr. Forson expressed robust confidence within the cost-saving potential of the brand new workplace.
“I’ve seen value-for-money workplaces working in different international locations, and I can inform you for a indisputable fact that if there may be one workplace that pays for itself from day one, it’s a value-for-money workplace,” he concluded.
