The Deputy Finance Minister, Abena Osei-Asare has revealed that about GH₵52million would accrue from the 50% cut in fuel coupon allocated to government appointees.

She said the measure, amongst the others announced on Thursday, would help the government achieve its deficit target of 7.4%.

Speaking on Top Story, Thursday, Abena Osei Asare said government projected to obtain GH₵52 million due to the vast number of state appointees, including heads of State-Owned Enterprises to be affected by the new measure.

According to her, government has instituted these measures to reduce the 2022 Budget and hopes to extend some of the cuts in salaries and expenditures to the end of the year.

The Finance Minister on Thursday announced the 50% cut in fuel coupon allocation as part of measures to mitigate the economic hardship in the country.

“These times call for very efficient use of energy resources. In line with this, there will be a 50% cut in fuel coupon allocations for all political appointees and heads of government institutions, including SOEs, effective February 1, 2022,” the Minister announced.

The Finance Minister also announced a 15 pesewas per litre reduction in petroleum price build-up from April 1, 2022, for the next three months as part of the government's interventions.

He stated that the reduction in margins of petroleum price build-up to be initiated in April is “expected to reduce prices of petrol by 1.6% and diesel by 1.4%.”

Government has also decided to reduce salaries for all Cabinet Ministers and heads of State-Owned Enterprises by 30% effective April, 2022 till the year ends.

According to Mr. Ofori-Atta, revenue generated from these contributions would be deposited into the Consolidated Fund.

“Cabinet approved that Ministers and the Heads of SOEs contribute 30 per cent of their salaries from April to December, 2022 to the Consolidated Fund. We would like to thank the Council of State for their leadership in complimenting the government effort on this policy.

In a related development, members of the Council of State have resolved to reduce their monthly allowances by 20% until the end of the year due to the country’s economic challenges.

According to the Chairman of the Council, Nana Otuo Serebour II, the move is to help them identify with Ghanaians amid the difficulties people are facing.

“Mr President, in tandem with your decision, we as the Council of State have also decided that we will reduce our monthly allowances by 20% until the end of this year. This move is our way of contributing our widow’s mite to our total efforts towards economic recovery,” he said.