Payment Of Judgment Debt Will Cause K.M.A To Malfunction.
The Presiding Member for Kumasi Metropolitan Assembly, on. Stephen Ofori, has stated that payment of judgment debt with the Internal Generated Fund (IGF) will cause Assembly to malfunction.
He made the statement with reference to a Kumasi High Court order to FREDCO FD Company Limited, a sub-contractor of the Kumasi Metropolitan Assembly (KMA), to sell the Assembly’s administration building to defray a judgment debt of almost GH¢5 million.
Speaking with Agudey on Opemsuo radio’s Morning show Nkwantananso on Thursday, September 30th, 2021, the Presiding Member stated that the Assembly is yet to meet with the management of FREDCO FD Company Limited.
“To pay off such debts, we have been relying on Internal Generated Fund. We are currently in financial difficulties, and if no precautions are taken, we will be forced into insolvency”, he added.
According to the Presiding Member, it will take the Assembly 25 years to pay their numerous judgment debt without a project or programme.
Source: Opemsuo.com/ Priscilla Fordjour