The Majority Leader, Osei Kyei-Mensah-Bonsu, has announced that the parliament’s updated standing orders have led to the formation of an Economic Committee.
This committee comprises MPs with expertise in economics, enhancing their ability to seek professional advice.
Their primary role will be to scrutinize the implications of government loan agreements meticulously.
Mr. Kyei-Mensah-Bonsu, in an interview in Accra on Wednesday, said, “We didn’t use to have a committee on the economy; we now have one. The reason is simple: when we contract loans and we refer the same agreements to the Finance Committee, they will come to us with the goodness or otherwise of the facility. Usually, they will relate to the terms and conditions of the loan, the impacts, the payment schedule, and the impact of the loan they don’t report on.”
“And we felt that, no, we need a committee on the economy that will dive into this. Even if they don’t have the competency in its entirety to so advise, we will engage experts who will go into this and inform parliament accordingly so that in making any decision on the approval of a loan facility or whatever facility will be so guided.”
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