The Majority in Parliament has disclosed that the Government has released an amount of GHS 855 million to settle unpaid sums due to cocoa farmers nationwide.

Addressing a press briefing, the Chairman of Parliament’s Finance Committee, Mr Isaac Adongo, said the disbursement is aimed at offsetting arrears that have accumulated over time and easing the financial strain on farmers who have been waiting for their payments.

He indicated that, beyond clearing the backlog, the government has mapped out comprehensive reforms to reposition the Ghana Cocoa Board for efficiency and safeguard the long-term viability of the cocoa industry.

Isaac. Adongo further argued that the recent downward adjustment in the producer price was necessitated by what he characterised as imprudent fiscal decisions under the previous administration.

According to him, those actions saddled the cocoa sector with substantial debt, limiting the government’s room to manoeuvre.