Minister for Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, has bemoaned the Finance Ministry’s newly introduced policy on Internally Generated Fund (IGF) that seeks to place a cap on revenue generated internally by the Ministries, Departments and Agencies (MDAs).
The Ministry of Foreign Affairs and Regional Integration has projected to collect the sum of GH₵149, 831,338.93 as IGF from its mission operations abroad this year.
But the 2017 budget statement allows the Foreign Affairs Ministry to retain GH₵51,570,645 of the total IGF projection for the year, according the new IGF policy instituted by the Finance Ministry.
This is in sharp contrast of the 100% given to the Ministry over the years.
Madam Ayorkor Botchwey commenting on the said policy on the floor of the House, Thursday, said the situation is very worrying, stressing “that is going to make the work of the Ministry very difficult in not almost impossible.”
She told Parliament during discussions on the GH₵398,676,632 budget estimate for Ministry of Foreign Affairs and Regional Integration that the new policy will have significant reduction adverse impact on the smooth operations of Ghana’s missions abroad.
Nevertheless, she said her outfit will manage the situation and still render quality service to its clientele.
Ranking Member of the Foreign Affairs Committee and NDC MP for North Tongu, Samuel Okujeto Ablakwa, contributing to the discussion also complained bitterly about the cap placed on the retention of IGF by the Ministry.
“A cap on the Ministry of Foreign Affairs’ IGF will negatively affect a $50million loan the Ministry is servicing”, he noted.
Kasapafmonline.com is reliably informed that the missions that generate IGF are allowed to retain 35% with the remaining 65% paid into a holding account for the upkeep of other less endowed missions.
The idea, according to officials from the Finance Ministry, was to create a pool of fund from which other embassies and missions that incur cost but generate fewer resources could be funded.
