Parliament has approved the waiver of Import Duties, Import Vat, GETFund Levy, Import NHIL, Exim Levy and Special Import Levy, amounting to US$26,966,083, on project materials and equipment.
The exemption for the project materials and equipment to be procured is for the rehabilitation and upgrading of equipment in technical universities, polytechnics and Technical and Vocational Training Centres under a concessional loan agreement between Ghana and the Export-Import Bank of China.
Dr Mark Assibey-Yeboah, Chairman of the Finance Committee, who presented the committee’s report, stated that in 2010, government requested funding from the People’s Republic of China to finance the rehabilitation and development of 10 technical institutions, five polytechnics and the Technical Examination Unit of the Ghana Education Service (GES).
He said the scope of work was later increased to 13 technical institutions and ten polytechnics/technical universities.
He said the proposed intervention is part of the ongoing measures by the educational sector to expand equitable access to, and quality of, Technical and Vocational Education and Training (TVET) in response to an overwhelming social demand.
Dr Mark Assibey-Yeboah also stated that the project is designed to support government’s effort within the context of the human capital development priorities and to resolve key development challenges of low-quality skills produced by technical, vocational education and training in the country.
He said the project objectives are aligned to Ghana’s Development Strategy and the Goal 4 of the Sustainable Development Goals, referred to as ‘Education 2030’, which emphasises skills development and the enhancement competitiveness of goods and services produced in the country through improved production of human capital critical for growth and poverty reduction.
He said the project is also in tandem with the Educational Sector Development Plan (ESDP) (2016-2020), which emphasises improving equitable access to and quality of TVET.
Dr Assibey-Yeboah also stated that the aim of the plan is to improve the employability of Ghanaian youth by providing them with relevant skills and competencies required for self and formal employment.
He said the intention is not only to help reduce unemployment among the youth, but to also help encourage indigenous entrepreneurship and further provide Ghanaian industries with the relevant manpower to make them globally competitive.
He further stated that the Government of Ghana is fully responsible for the component of the project financing cost covering taxes and other levies, which may be imposed on the country with respect to the supply and purchase of materials and equipment required for the execution of the project.
Credit: The Finder