Parliament adopts formula for 2005 GETFund
Accra, May 19, GNA - Parliament on Thursday unanimously adopted the report on the formula for the distribution of Ghana Education Trust Fund (GETFund) for the year 2005.
Mr. Abraham Ossei-Aidooh, Deputy Majority Leader, who presented the report said an amount of one trillion 100 billion cedis should be released to the secretariat for distribution to the appropriate areas. The areas that would benefit from the fund are tertiary education - 517 billion cedis (47 per cent), second cycle education - 253 billion cedis (23 per cent), basic education - 254 billion cedis (23 per cent) investment - 11 billion cedis (one per cent).
The rest are the Ministry of Education and Sports, and subvented agencies - 27.5 billion cedis (2.5 per cent), open colleges - 11 billion cedis (one per cent), MPs emergency projects - 23 billion cedis (2.1 per cent) and contingencies - 4.5 billion cedis (0.4 per cent).
In arriving at the formula Mr. Ossei-Aidooh said the Board of Trustees of the Fund was guided by the principles as stipulated in section 8(3) of the GETFund Act, Act 581.
They are the promotion of the study of mathematics, science, and technology; the advancement of female education; the reduction in the level of illiteracy in historically disadvantaged areas; and the promotion of computer, vocational and technical education and training. Mr. Ossei-Aidooh said the fund is to be used to improve the deplorable state infrastructure facilities and support critical projects at all levels of educational systems and will go a long way to raise academic standards in Ghana.