By Rashidatu Ibrahim
Following the approval of the Budget Estimates for the various public offices, Parliament has passed the Appropriation Bill into Act, providing for the withdrawal of monies necessary to meet government expenditure for the 2014 financial year.
The Appropriation Bill for the 2014 financial year, was presented to Parliament by the Minister for Finance, Seth Terkper, on Tuesday, December 17, 2013, to seek the approval of Parliament to enable the sums of monies, not exceeding Thirty-six billion, one hundred and seventy million, nine hundred and eighty-three thousand, six hundred and sixty-three Ghana Cedis (GH¢36,170,983,663.00) to be issued from the consolidated fund for the purposes of financing all government operations, during the 2014 financial year.
The Bill is in accordance with the Constitutional requirement under Article 179(2), which states that “the estimates of the expenditure of all public offices and public corporations other than those set up as commercial ventures shall be classified under programmes or activities which shall be included in a bill to be known as Appropriation Bill and which shall be introduced into Parliament to provide for the issue from the Consolidated Fund or such other appropriate fund of the sums of moneys necessary to meet that expenditure and the appropriation of those sums for the purposes specified in that Bill”.
The Act, following its passage and adoption last Wednesday, comes into force on the first day of January, 2014.
Meanwhile, the Finance Committee, chaired by James Klutse Avedzi, has urged the Finance Ministry to facilitate the timely release of monies needed for various government projects.