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12 State companies fail to repay government loans

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The Ministry of Finance says it has identified twelve out of twenty State companies that have taken loans from government and have not repaid.
The loans were taken over the past 20 years, and the Economic and Organised Crime Office, EOCO, which was contacted has found it difficult to locate the companies.
Appearing at the Public Accounts Committee Sitting Monday, the Deputy Minister of Finance, Abena Osei Asare, however said for now, some of the companies have been located and all the money will be collected.
Meanwhile, the Controller and Accountant General’s Department says it has transferred all tier one and tier two pension funds to all Fund Managers as at 2016.
This comes after the Controller and Accountant General, Eugene Ofosuhene was questioned about the transfer of more than GH¢880 million to SSNIT and National Pensions Regulatory Authority which according to a report has not been done.
Giving explanations about pension funds, Mr. Ofosuhene however said all those funds have been taken care of. He made this known when he appeared before the Public Accounts Committee in Parliament.

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