Dr Archibald Yao Letsa, the Volta Regional Minister, has charged municipal and district assemblies in the Region to work to improve on their annual 10 per cent revenue generation.
He asked them to target doubling their internally generated funds over the next four years to help them become self-sufficient and reduce their dependence on government’s transfers such as the Common Fund to run their affairs.
Dr Letsa, addressing the Second Session of the Volta Regional Coordinating Council (VRCC), said revenue increment should be one of the focal area of every assembly in the region.
“Our continuous dependence on revenue and debt financing of projects cannot accelerate our development to the level required,” he said, and that was the reason the Ministry of Finance trained some officials of the municipal and district coordinating units on how to explore equity financing for projects under Public Private Partnership arrangements.
He implored the assemblies to explore private capital to assist in developing their markets, lorry parks, tourist attractions and invest in other potential areas to generate revenue.
The Minister entreated them to use revenues judiciously to improve the lives of the people and accelerate the development of the area, adding; “Revenue generation without its prudent utilisation will amount to nothing.”
On protecting the environment, Dr Letsa asked the district chief executives to input measures to safeguard the environment and prevent illegal mining in those areas.
“Our attachment as people to our environment is something we cannot afford to lose. The environment is the heritage and the propeller of our economic transformation, hence the need to protect and preserve it,” he said.
Touching on the just ended Volta Trade and Investment Fair, the Minister said it had boosted the region’s quest to be the most attractive destination for investment and wealth creation.
“The Volta Trade and Investment Fair has come to stay,” he said, and urged the municipal and district assemblies to prioritise it in their annual plans to ensure their participation to develop the area.