Ghana seeks investment in transport sector -
Minister
VAT Service penalises Takoradi hotel
British
Commissioner urges gov’t to speed up privatisation
British-American
Tobacco records another gain
Ghana seeks investment in transport sector
- Minister
Accra (Greater Accra) 12 April 2001
Ghana is looking for investors who would take a look at a mass transport system for the country, the Minister of Transport and Communications, Mr Felix Owusu-Adjapong, said on Wednesday.
The investment should not be only in the road sector but also in rail transport and internal air flight development, Mr Owusu-Adjapong told the Dutch Ambassador, Mr Alexander Heldring, who called on him in Accra.
He said Ghana has many investment opportunities that could be exploited for the rapid development of the country.
The minister expressed appreciation of the government for Dutch bilateral assistance to Ghana over the past 300 years of diplomatic relations and expressed the hope that the cordial relations between them would be further strengthened.
Mr Heldring repeated that a 50-member Dutch delegation led by the Minister of Foreign Trade would visit Ghana as part of the celebration of the 300th anniversary of diplomatic ties for business and investment discussions.
The Dutch Prime Minister would also visit Ghana to sign a civil aviation accord between the two countries.
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VAT Service penalises
Takoradi hotel
Accra (Greater Accra) 12 April
2001
The VAT Service on Tuesday took
"distress action" against the Hotel Alrose, Dixcove Hill, at Takoradi
for defaulting in the payment of VAT to the tune of 28 million cedis.
The amount represents an
accumulation of tax declared assessment and interest from November 1999 to July
last year.
The "distress action"
follows the failure of the Hotel's Managing Director, Mr Albert Kojo Nkum, to
pay despite several demand notices and reminders.
The items seized included 10
television sets, one video deck, six refrigerators, two air conditioners, a fax
machine, an oven and a computer monitor and accessories.
Mr Abeiku Cudjoe, Head of the
Takoradi VAT Office, told the GNA in an interview in Accra, that the service
has since April 1, instituted measures to collect interest on monies owed it in
respect of returns submitted without payment, partial payment as well as
outstanding debts.
He reminded registered traders who
owe the service to discharge their obligations promptly to avoid the payment of
penalties.
The VAT Law, 1998, Act 546, gives
powers to the Commissioner to levy "distress" on the assets and
properties of a defaulting taxable person.
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British
Commissioner urges gov’t to speed up privatisation
Ho (Volta Region) 12 April 2001
Mr Craig Murray, Deputy British
High Commissioner to Ghana, on Tuesday called on the government to speed up the
privatisation of some state enterprises to raise more revenue to pay the
country's domestic debts and reduce interest rates.
Mr. Murray told the GNA at Ho in
an interview that this would help reduce government's over-reliance on taxes to
fulfil its internal commitments.
He suggested that "for a
start, government organisations like the Ghana Commercial Bank and Ghana Civil
Aviation Authority could be privatised to make substantial gains for the
country".
He described the 100 days of the
government in office as "positive" and "remarkable", especially its adoption of the Highly
Indebted Poor Countries (HIPC) initiative, and the increases in petroleum
prices, which, he said, are the right steps in straightening the economy.
Mr Murray said the Minister of
Youth and Sports' saga was unfortunate but added that "the bright side of
it is that it shows the ministerial responsibility of the government".
Regarding the government's
directives to some public officers to proceed on leave pending the outcome of
investigations into their stewardship, Mr Murray said the move was in the right
direction in ensuring transparency in the public sector.
"Transparency is always what
combats corruption," he stated.
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Accra (Greater Accra) 12 April 2001
Currency Buying Selling
US Dollar 7,017.27 7,224.55
Pound Sterling 10,061.36 10,362.17
French Franc 952.39 980.19
Swiss Franc 4,092.98 4,212.44
Deutsche Mark 3,193.58 3,288.01
Canadian Dollar 4,508.99 4,641.51
Japanese Yen 56.53 58.18
Dutch Guilder 2,834.27 2,916.54
S/African Rand 874.12 898.89
Euro 6,247.35 6,426.15
CFA Franc 9.52 9.80
Naira 64.71 66.62
ECOWAS/WAUA 8,828.30 --------
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British-American
Tobacco records another gain
Accra (Greater Accra) 12 April
2001
British-American Tobacco (BAT)
continued to make its upward stride gaining 30 cedis at mid-week trading to
push the All-Share Index of the stock market up by 1.27 points to close trading
at 897.65 points.
The gain in the market index was
also backed by an 18-cedi gain in Metaloplastica Ghana Limited (MGL).
The change in the year to date
thus moved up to 4.62 per cent in the beginning of the second quarter.
Total shares traded ended at
36,200 with market capitalization finishing higher at 3,719.29 billion cedis
from 3,716.89 billion cedis.
In the broader market, there were
two price changes, all gains. BAT gained 30 cedis at 550 to sell 6,100 shares
while MGL made 18 cedis at 230, selling 1,800 shares.
The highest of 11,300 shares was
sold by Ghana Commercial Bank for 1,600 cedis each.
The following are the last prices
of listed equities in cedis:
ABL 630
AGC 18,500
ALW 7,000
BAT 550 +30
CFAO 60
EIC 2,890
FML 800
GBL 1,300
GCB 1,600
GGL 900
HFC 952
MGL 230 +18
MLC 140
MOGL 18,700
PAF 275
PBC 450
PZ 621
SCB 21,700
SPPC 296
SSB 2,300
UNIL 1,750
CMLT 420
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