Finance Minister, Ken Ofori-Atta, has revealed that the road tolls which was suspended during the reading of the 2022 budget, will be reintroduced.
This comes after government hinted at raising funds to facilitate the rehabilitation and extension of the Tema Motorway.
Delivering the Mid-Year Budget Review, Mr. Ofori-Atta, said government in line with the Public Private Partnership Act, 2020 (Act 1039), will establish a concession agreement between the Ghana Infrastructure Investment Fund, GIIF and the Ministry of Roads and Highways, that will sponsor the 22.7-kilometer project.
PPP Projects:
All new roads would be tolled- Ken Ofori-Atta pic.twitter.com/aoTjUo2YQr
— Ghana Broadcasting Corporation (@thegbcghana) July 25, 2022
He said the project upon completion, will be tolled. Despite the cancellation of road tolls, the Finance Minister revealed that government will toll all new roads constructed under such concession agreements.
The Finance Minister further revealed that Government is not seeking additional funds with the 2022 Mid-Year budget, despite reduced revenues and the under-performance of the controversial electronic transfer levy.
Mr. Ofori-Atta admitted that there have been “some major shifts in budget assumptions” compared to November 2021, when the full budget was presented. He said government will not request supplementary funds for its activities for the rest of the year.