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August 11, 2018 | Business & Finance

Licences Of Defaulting Quarry Companies To Be Revoked

GNA
Licences Of Defaulting Quarry Companies To Be Revoked

The Ministry of Lands and Natural Resources has begun an operation to clamp down on quarry companies that have been evading payment of taxes and royalties to the government.

The Ministry has, therefore, commissioned the Economic and Organised Crime Office (EOCO) and National Security to undertake both operational and financial audits of the defaulting quarry companies in order to sanction them accordingly.

The quarry companies involved those mining stones, sand, salt, clay and limestone, and those found culpable would lose their operating licences, and suffer complete shutdown of their operations.

This was contained in a press statement issued by Professor Patrick Agbesinyale, the Chief Director of the Ministry of Lands and Natural Resources in Accra on Thursday.

It said preliminary investigations into the operations of some quarry companies operating in the country uncovered that only few of them have been honouring their tax and royalty obligations.

“The majority of them have for years reneged on tax and royalties obligations to the State. And yet, these are the same companies that continuously damaged and destroyed our roads through the haulage of bulk materials, including stones, rocks, sand and salt, and caused considerable damage to the environment,” the statement said.

It said Cabinet had also recommended a comprehensive operational audit of all mining companies operating in the country, adding that, the exercise would be sustained to make sure the State received her fair share of the mineral resources extracted from the land.

The statement advised the defaulting companies to redeem themselves immediately to prevent any punitive action from the government.

quot-img-1To decrease your economic growth your deficit must first be reduced.

By: FRANCIS TAWIAH(Duisb quot-img-1
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