1D1F: 106 factories operational – Trade Minister

Trade and Industry Minister, Alan Kyeremanten says government has so far facilitated the establishment of a total of 278 companies and projects under the One District, One Factory (1D1F) policy initiative.

According to the Minister, 106 companies out of the 278 are currently in operation. Also, 148 are under construction whilst 24 of the projects are at the mobilisation stage.

The revelation comes after Tamale Central MP, Murtala Muhammed Ibrahim, asked the Minister to make available to the House, the number of factories set up in the last four years under the 1D1F programme and how much the government spent for their establishment.

“Mr Speaker, it is important to note that the 1D1F initiative is private sector-led but facilitated by the government.

“The role of the government includes payment of interest subsidy on loans granted to 1D1F companies and projects by Participating Financial Institutions (PFIs); granting incentives such as Waiver of Import Duties on capital goods and raw materials; and facilitation of access to infrastructures such as electricity, water, and roads,” He told Parliament on Thursday.

Mr Kyeremanten also observed that since the start of the Programme, the government has successfully mobilised loans for 1D1F companies from the PFIs totalling ¢2.69 billion.

“Mr Speaker, this amount has been leveraged through the disbursement of an amount of ¢260.9 million by the government as a subsidy to de-risk loans and support interest payment for beneficiary 1D1F companies and projects,” he said.

Source: Joy Business