Deputy Finance Minister Abena Osei-Asare has defended the 2017 financial sector clean-up, which led to the liquidation of 420 institutions.
She put up the defence in response to the Chairman of the Public Accounts Committee, James Klutse Avedzi, who attributed the tax default of some of the institutions to the financial sector clean-up.
The Ghana Revenue Authority has revealed that the defunct financial institutions owe more than nine million cedis in taxes.
However, during the Public Accounts Committee sitting today, Abena Osei-Asare explained that the government had to intervene for the depositors to get back their money.
She asserted that all their activities also come with a cost; however, if the cost would have a positive impact on citizens, the cleanup decision would be taken. According to her, some of the banks have already taken the government to court over the issue.
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Story by Osei Akoto(Teacher Kojo) #Ahotoronline.com
