The Cabinet has given approval for the release of more than ¢1.1 trillion for the commencement of the Ghana Job Corps Programme ( Youth Employment Programme) with effect from August, 2006, to create more jobs for the youth.
Additionally, the Cabinet has decided to launch the Micro-Small Loan Scheme with a start-up capital of U$50 million effective July, 2006.
These were part of the outcome of a three-day Cabinet retreat, which ended at the Ghana Institute of Management and Public Administration (GIMPA) in Accra yesterday.
In a communiqué issued at the end of the meeting Cabinet explained that the loan scheme was targeted at the micro-operator, who requires up to ¢5 million as support.
The scheme will also provide a lifeline for small-scale operators, who require up to ¢100 million as loan.
Cabinet also gave approval for the Stamp Duty Amendment Bill, Foreign Exchange Bill and the Credit Reporting Bill to be forwarded to Parliament for passage.
The three-day retreat deliberated on a number of very pressing national issues aimed at refocusing the new Cabinet to achieve accelerated growth for the economy, as well as improve the quality of life of the public.
The meeting also discussed problems relating to land administration and explored avenues for finding solutions to them.
The President, Mr J.A. Kufuor and his vice, Alhaji Aliu Mahama, as well as the ministers constituting the Cabinet, were updated on efforts of the government to host the CAN 2008 Football competition and the need to complete the stadia in Sekondi and Tamale, as well as renovate and expand the Accra and Kumasi stadia in time for the competition.
Cabinet also discussed ways of empowering local entrepreneurs in the face of unfair competition and, in line with that, considered the possibility of reviewing the Ghana Investment Promotion Centre Law, Act 478.
According to the communique,Cabinet also resolved to deepen and expand the operations of the National Health Insurance Scheme, the School Feeding Programme and the Capitation Grant in the light of their successes so far.
Cabinet reaffirmed its commitment to strengthening security, the rule of law, respect for human rights, good governance and related democratic freedoms.
The communiqué said the President expressed his appreciation to the members of the Cabinet for the renewed vigour, which they exhibited during the deliberations, as well as the quality and depth of their contributions, and tasked all the ministers to ensure the speedy implementation of the decisions taken at the retreat.
Story by Nehemia Owusu Achiaw