The government has said that beneficiaries of the COVID-19 stimulus package will have to pay back the loans they acquired.
“The programme has specific activities involved in it. That is what the programme is today. Tomorrow, if because of issues and the rest, things can change.”
By the way that’s the nature of the world. If that happens, as a government that listens we would look at it and make a decision. But as we stand here, please pay it back,” the Deputy Trade Minister, Robert Ahomka Lindsay, told Starr FM.
His comments came after NDC flagbearer, John Mahama, on his campaign trail assured the beneficiaries of the packages that should he win power, his administration would convert the loans into grants following reports that the NPP was promising the same.
Mr Lindsay, however, refuted the claims. He appealed to businesses that benefit from government loans to endeavour to pay back in order for others to benefit.
“One of the challenges we’ve always had and this is a reality. Whenever the government gives anything, people don’t pay but this is a problem. Because where are we going to get the money to give the next person? ”
COVID-19 stimulus package
President Nana Addo Dankwa Akufo-Addo on May 19, 2020. launched a GH¢600 million Coronavirus Alleviation Programme (CAP) business support scheme intended to support small and medium-scale enterprises (SMEs) impacted by the novel coronavirus (COVID-19).
The fund was intended to provide relief to SMEs across the country that had been negatively affected by the disease.
In his fifth televised address to the nation, the President announced that government had partnered with the private sector to introduce a scheme in support of SMEs which were facing challenges owing to COVID-19.
“Government, in collaboration with the National Board for Small Scale Industries (NBSSI), business and trade associations and selected commercial and rural banks, will roll out a soft loan scheme up to a total of GH¢600 million, which will have a one-year moratorium and two-year repayment period for micro, small and medium scale businesses,” he stated.