May 24, 2011

Mr Seth Terkpeh, Deputy Minister of Finance and Economic Planning said at the weekend that an amount of GH¢114,983,826.00 was realised from the Communication Service Tax, which became operational in June 2008 to December 2009.

He said 20 per cent of the amount was supposed to be used to fund the National Youth Employment Programme (NYEP), however only GH¢8,000,000.00 was spent on the Programme while the rest was placed in the Consolidated Fund.

Mr Terkpeh was answering a question on the floor of Parliament tabled by Mr Isaac Kwame Asiamah, New Patriotic Party Member of Parliament for Atwima Mponua.

He however did not give a breakdown of how the money was utilised.

Mr Terkpeh said an amount of GH¢ 87.4 million was realised in 2009 and GH¢158.5 million in 2010 and GH¢32.2 million by the first quarter of 2011.

The Minister explained that GH¢35.4 million has been released so far while six million cedis was yet to be settled.