Minister of Finance Dr. Cassiel Ato Forson has sounded the alarm over what he describes as excessive and unjustified procurement at COCOBOD, revealing that the institution currently has more than 3,000 containers of jute sacks stranded at the Tema Port—materials he says will not be needed “for the next five years.”
Speaking on the Citi Breakfast Show on Friday, November 14, Dr. Forson said the stockpile underscores the extent of procurement mismanagement under the previous administration, which he accused of awarding contracts “without any source of payment.”
He disclosed that COCOBOD Chief Executive Dr. Ransford Abbey inherited GH¢32 billion in arrears, a financial load the institution cannot clear within a year. “He doesn’t have the resources,” Dr. Forson said, adding that COCOBOD is unable to borrow to ease its debt due to its weakened balance sheet.
The Minister stressed that institutions must be accountable for the contracts they approve, emphasising that COCOBOD’s liabilities cannot be transferred to the state purse. “When COCOBOD awards a contract, they have to pay. Not the Finance Ministry,” he said.
Dr. Forson warned that the piling up of liabilities, combined with the unnecessary procurement of jute sacks, has severely reduced the organisation’s operational flexibility and increased pressure on the wider public financial system.
He assured that government is working to restore fiscal discipline across state institutions to prevent recurring arrears and ensure procurement decisions reflect actual operational needs.
Source:Lovinghananews.com
