President John Dramani Mahama enacted a pivotal legislative amendment on Wednesday, transforming financial allocations across critical national sectors. The Earmarked Funds Capping and Realignment Bill modifies funding mechanisms for several key government institutions, including healthcare, education, infrastructure, and petroleum resources.
The legislation specifically targets the National Health Insurance Fund, the Ghana Education Trust Fund, the Road Fund, the Mineral Income Investment Fund, the Ghana Infrastructure Investment Fund, and petroleum revenue transfers. Through strategic recalibration, the bill aims to unlock dedicated resources for specific national priorities and operational requirements.
Under the new framework, the Ghana Education Trust Fund will receive expanded funding to support free secondary and tertiary education for individuals with disabilities. Simultaneously, the National Health Insurance Levy will be restructured to generate additional resources for essential medical services, including vaccine procurement, primary healthcare initiatives, and bridging international financing gaps.
The Road Fund will also benefit from full allocation, ensuring comprehensive funding for road maintenance and infrastructure improvements. Moreover, the amendment restructures revenue sources for mineral investment, infrastructure development, and petroleum corporations, enabling these entities to meet their financial obligations more effectively.
Senior government officials witnessed the signing, including Finance Minister Dr. Cassie Ato Baah Forson, Chief of Staff Julius Debrah, and Presidential Communications Minister Felix Kwakye Ofosu. Prominent advisors such as former Finance Minister Seth Emmanuel Terkper and Presidential Legal Advisor Marietta Brew Appiah-Oppong were also present during the landmark legislative event.
The legislation specifically targets the National Health Insurance Fund, the Ghana Education Trust Fund, the Road Fund, the Mineral Income Investment Fund, the Ghana Infrastructure Investment Fund, and petroleum revenue transfers. Through strategic recalibration, the bill aims to unlock dedicated resources for specific national priorities and operational requirements.
Under the new framework, the Ghana Education Trust Fund will receive expanded funding to support free secondary and tertiary education for individuals with disabilities. Simultaneously, the National Health Insurance Levy will be restructured to generate additional resources for essential medical services, including vaccine procurement, primary healthcare initiatives, and bridging international financing gaps.
The Road Fund will also benefit from full allocation, ensuring comprehensive funding for road maintenance and infrastructure improvements. Moreover, the amendment restructures revenue sources for mineral investment, infrastructure development, and petroleum corporations, enabling these entities to meet their financial obligations more effectively.
Senior government officials witnessed the signing, including Finance Minister Dr. Cassie Ato Baah Forson, Chief of Staff Julius Debrah, and Presidential Communications Minister Felix Kwakye Ofosu. Prominent advisors such as former Finance Minister Seth Emmanuel Terkper and Presidential Legal Advisor Marietta Brew Appiah-Oppong were also present during the landmark legislative event.
