Cabinet presents proposals on economic transactions for parliamentary approval

Mr Mahama Ayariga, Minister for Information and Media Relations, said Cabinet has recommended international business or economic proposals for Parliamentary consideration and subsequent approval.

He said the recent Supreme Court ruling that had outlawed some international business or economic transactions had informed Cabinet to come out with those proposals.

Mr Ayariga, who announced these during the daily media briefings at the Flagstaff house, Kanda on Friday, said Cabinet had also proposed some exemptions that should be complied with in the same direction.

The Minister said under the category one of the proposals, all international businesses or economic transactions similar to loans need to pass through Parliament for approval.

He said the category two of those transactions that include public funds and consolidated funds, which could be used to settle loans, would need Parliamentary approval.

Mr Ayariga said Cabinet had also proposed that State owned Enterprises that were established to do business with separate books should not be approved by Parliament because they do not require government sovereign guarantee.

He said subsidiary agreements and amendments that are not related to the terms of the original loans would also not need Parliamentary approval in subsequent years.

Mr Ayariga said that budget appropriations to Ministries, Departments and Agencies that require procurement and amounts that fall below certain benchmarks would not also need Parliamentary approval.

He said these proposals are spelt-out to avoid litigation in future and to guide all public officials to abide by all the procurement laws.

Source: GNA