The operational income of the Ghana Supply Company Limited for the 2006 fiscal year increased from ¢4.607 billion in 2005 to ¢8.149 billion making a 76 per cent increase. There was also a considerable increase in other incomes from ¢6.29 million in 2005 to ¢8.73 billion in the same year. The General Manager of GSCL, Nana Kusi-Appiah, made the disclosure at the company's Annual General Meeting (AGM) in Accra on Wednesday attributed the phenomenal increase to the disposal of some properties in line with the policy of recapitalization of the company. He noted that general and administrative expenses increased from 4.9 billion in 2005 to 10.6 billion in 2006 registering an increase of 116 per cent. "A pre-tax profit of 6.335 billion was recorded as against a loss of 246 million in 2005 while current assets increased from 8.032 billion in 2005 to 9.654 billion in 2006", he added. Mr. Kwadwo Baah-Wiredu, Minister of Finance and Economic Planning said the new Procurement Act had come at the right time since it would re-engineer the operations of the Ghana Supply Company Limited. He was optimistic that the Act would engender healthy competition between GSCL and the private sector in procuring goods for government entities. Mr Baah-Wiredu, in a speech read for him applauded the company for paying its dividend of 500 million cedis to government for the 2005/2006 fiscal year. Source: GNA