The Auditor General’s report has revealed that an alarming GH¢61 billion of state funds are currently tied up with various companies and institutions across the country.
Of this amount, GH¢57 million is owed by different metropolitan, municipal, and district assemblies, while state-owned enterprises account for the remaining GH¢5.6 billion.
Addressing the Public Accounts Committee of Parliament, Controller and Accountant General Kwasi Adjei disclosed that a committee has been formed to oversee the recovery of these funds.
“The committee comprises officers from the Department of the Accountant General and the Ministry of Finance, and they have compiled a list of all the companies involved,” Adjei said.
“Some of these companies are insolvent and no longer exist, but we will pursue those that are still operational to ensure the recovery of these funds. For those that are insolvent, we will recommend to the Ministry and Parliament that the debts be written off.”