The Ghana Ports and Harbour Authority (GPHA) has presented two cheques totalling GH¢6.0 million to the Ministry of Finance as dividends for 2007 and 2008.
Receiving the cheques, Dr. Kwabena Duffuor, the Minister of Finance, said the payment of the dividends by GPHA was a sign of hope that though there were numerous challenges facing state owned enterprises (SOEs) there is a possibility to make progress.
The Minister said his ministry was committed to engaging with all SOEs to discuss and find solutions to all bottlenecks that adversely affect their finances and performance.
The Ministry of Finance, Dr. Duffuor said, was addressing issues raised during the interaction with the board chairpersons and managing directors of SOEs, which include joint commitment to help reduce and eliminate fiscal risk posed to government by some SOEs.
“We will continue to work with all SOEs to resolve these issues and create the environment for them to thrive,” he said
The Minister mentioned cumbersome customs clearance procedures leading to unavoidable cost and illegal use of transit and trans-shipment facilities as some of the challenges facing GPHA, and assured government support to overcome the bottlenecks.
While commending GPHA for presenting the dividends, Dr. Duffuor urged other SOEs which had not paid theirs to do so.
Mike Hammah, the Minister for Transport, in his remarks, said it was in line for SOEs to pay dividend regularly.
He said if dividends were paid to government on regular basis it would enable the country to generate more revenue for developmental projects.
Mr Nester Percy Galley, the acting Director-General of GPHA, explained that the authority made appreciable profits during the crises in Cote d’Ivoire because business was brisk at the country’s two ports at the time, adding “now the main challenge confronting the GPHA is the keen competition in the sub region”.
Receiving the cheques, Dr. Kwabena Duffuor, the Minister of Finance, said the payment of the dividends by GPHA was a sign of hope that though there were numerous challenges facing state owned enterprises (SOEs) there is a possibility to make progress.
The Minister said his ministry was committed to engaging with all SOEs to discuss and find solutions to all bottlenecks that adversely affect their finances and performance.
The Ministry of Finance, Dr. Duffuor said, was addressing issues raised during the interaction with the board chairpersons and managing directors of SOEs, which include joint commitment to help reduce and eliminate fiscal risk posed to government by some SOEs.
“We will continue to work with all SOEs to resolve these issues and create the environment for them to thrive,” he said
The Minister mentioned cumbersome customs clearance procedures leading to unavoidable cost and illegal use of transit and trans-shipment facilities as some of the challenges facing GPHA, and assured government support to overcome the bottlenecks.
While commending GPHA for presenting the dividends, Dr. Duffuor urged other SOEs which had not paid theirs to do so.
Mike Hammah, the Minister for Transport, in his remarks, said it was in line for SOEs to pay dividend regularly.
He said if dividends were paid to government on regular basis it would enable the country to generate more revenue for developmental projects.
Mr Nester Percy Galley, the acting Director-General of GPHA, explained that the authority made appreciable profits during the crises in Cote d’Ivoire because business was brisk at the country’s two ports at the time, adding “now the main challenge confronting the GPHA is the keen competition in the sub region”.
