Trade Minister, Alan Kyerematen, is blaming the Finance Ministry for government’s inability to disburse interest loans to pharmaceutical companies.
Last year, government announced the disbursement of ¢260 million as interest subsidies to the said entities captured under the One District, One Factory initiative.
Government further argued that the money will go a long way to reduce the risk of financial loss to the 128 companies.
But pharmaceutical companies are yet to receive their share of the monies forcing some of them to resort to other means of servicing their loans.
"Any delays that have occurred in the payment of interest subsidies could be attributed to either delay in the release of funds from the Ministry of Finance or delays in the processing of applications of the 1D1F companies by the PFIs," he said.
He said his Ministry is ready to "authorise the release to the companies" once the processing is done.
The Trade and Industry Minister made these comments in Parliament on Wednesday.
While answering questions on the floor, Mr Kyeremateng observed that it will be impossible for the Trades Ministry to execute any disbursement until the Finance Ministry release the funds for that purpose.
Latest Stories
-
I want to focus more on my education – Chidimma Adetshina quits pageantry
2 hours -
Priest replaced after Sabrina Carpenter shoots music video in his church
2 hours -
Duct-taped banana artwork sells for $6.2m in NYC
3 hours -
Arrest warrants issued for Netanyahu, Gallant and Hamas commander over alleged war crimes
3 hours -
Actors Jonathan Majors and Meagan Good are engaged
3 hours -
Expired rice saga: A ‘best before date’ can be extended – Food and Agriculture Engineer
3 hours -
Why I rejected Range Rover gift from a man – Tiwa Savage
3 hours -
KNUST Engineering College honours Telecel Ghana CEO at Alumni Excellence Awards
3 hours -
Postecoglou backs Bentancur appeal after ‘mistake’
4 hours -
#Manifesto debate: NDC to enact and pass National Climate Law – Prof Klutse
4 hours -
‘Everything a manager could wish for’ – Guardiola signs new deal
4 hours -
TEWU suspends strike after NLC directive, urges swift resolution of grievances
4 hours -
Netflix debuts Grain Media’s explosive film
4 hours -
‘Expired’ rice scandal: FDA is complicit; top officials must be fired – Ablakwa
5 hours -
#TheManifestoDebate: We’ll provide potable water, expand water distribution network – NDC
5 hours