Minister of Trade and Industry, Alan Kyeremanten says the government has so far facilitated the establishment of a total of 278 companies and projects under the One District, One Factory (1D1F) initiative.
According to the Minister, 106 companies out of the 278 are currently in operation, 148 are under construction whilst 24 of the projects are at the mobilisation stage. This comes after MP for Tamale Central, Murtala Muhammed Ibrahim, asked the Minister to make available to the House, the number of factories set up in the last four years under the 1D1F programme and how much the government spent for their establishment.
Mr. Kyeremanteng in response said the role of the government in facilitating the policy, includes the payment of interest subsidy on loans granted to 1D1F companies and projects by Participating Financial Institutions (PFIs); granting incentives such as Waiver of Import Duties on capital goods and raw materials; and facilitation of access to infrastructures such as electricity, water, and roads.
Mr. Kyeremanteng also observed that since the start of the Programme, the government has successfully mobilised loans for 1D1F companies from the PFIs totaling ¢2.69 billion.
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