Ken Ofori-Atta, the Finance Minister, has announced that the country's public tertiary institutions will be weaned off the government's payroll.
According to the Minister, this is part of the government's medium-term plan to address the economy's issues.
He suggested that the institutions be given a "block grant" with a set amount.
The Finance Minister, on the other hand, remained tight-lipped about the proposal. A block grant is a one-time payment made by the federal government to a state agency to assist with the funding of a certain project or program.
Mr. Ofori-Atta stated this to the press on Thursday during a press conference about the government's efforts to revitalize the economy.
Other medium-term measures include "reforms to address structural difficulties in public financial management, including procurement and commitment control, payroll management, and human resource management," according to the sector minister.
To ensure that enough income is generated, the Finance Minister announced that the government will begin implementing and collecting the new Property Rate by the end of April, as well as the E-VAT/E-Commerce/E-Gaming projects.
By July, the government will make the streamlined tax filing mobile application available to all eligible taxpayers.
"Impress upon Parliament to fast track the passage of the E-Levy Bill, Tax Exemptions Bill, and Fees and Charges Bill; prioritise the Revenue Assurance, Compliance, and Enforcement (RACE) Program to ensure that the E-Levy Bill, Tax Exemptions Bill, and Fees and Charges Bill are passed," the Finance Minister said.