Mr Yaw Osafo-Maafo, Senior Minister Designate, said the current programme literally squeezes all the physical space out and therefore from the point of view the new Government of the New Patriotic Party (NPP), must be reviewed.

In April 2015, signed onto a three year 918-million-dollar Extended Credit Facility with the Bretton Woods institution, under the erstwhile Government of the National Democratic Congress (NDC) but the Senior Minister Designate insists that that the current NPP would review the deal, which is in the final year.

The 75-year-old politician, engineer, banker who abdicated his position as traditional ruler in Akyem Awisa in the Eastern Region to go into politics, spoke of the review when he appeared before the Appointments Committee of Parliament.

The Committee was holding a public hearing to consider the nomination of Mr Osafo- Maafo, nominated for the position by President Nana Addo Akufo- Addo. Last September, the Executive Board the IMF completed the third review of Ghana’s economic performance, which enabled the disbursement of about $116.2 million, which culminated in total disbursements under the arrangement to about $ 464.6 million.

The nominee was also a former Minister who at various times held the portfolios of Finance, Education, Youth and Sports under a former government of the NPP, then led by former President John Agyekum Kufuor. Mr Osafo Maafo defended the creation of the Senior Minster portfolio, by the NPP, citing the prerogative of the President to appoint a Minister and give him a title.

He said as part of the review, the deal which did not go through Parliament would be taken to the House, and announced that the IMF has been communicated to about government’s intention to review the credit facility. He did not accept the use of a 40-year national development plan for Ghana’s development, and that national development plans must be limited to 10 years due to world economic conditions and changes in technology.

Mr Osafo Maafo said he made inputs into the document that was spearheaded by the National Development Planning Commission (NDPC), but however added that “I don’t believe in planning in excess of 10 years because of the stringency of world economics, and therefore I would prefer that we restrict ourselves to a 10-year development plan.

“I have made some inputs into it relating to infrastructure and energy.”

“The NDPC met the whole caucus of the NPP at our headquarters to discuss initially the 40-year development plan. The Vice President, Dr Mahamudu Bawumia and I expressed our views on the length of time.” The Senior Minister Designate said the Nana Akufo Addo Government would reconsider the plan, and together with the NDPC review it to make it relevant to the nation’s development.

“Now that we are in power, we are surely going to have a critical look at that programme and we are not going to swallow it hook, line and sinker. We’ll look at the 40-year-plan; it is important that every country like Ghana gets a long -term plan, particularly with respect to infrastructure, so that there will be continuity. So we will definitely look at it and where modifications are necessary, we’ll make it after going through.”

He announced that the Government would work on enhancing energy supply to resuscitate the Volta Aluminium Company. On unpaid monies to state institutions, the Senior Minister announced enhanced revenue mobilisation to get money to make good those payments.