The Ghanaian Forestry Commission will no longer issue entry permits to timber firms that are indebted to it, after it was revealed 927 companies owe 12.4m Ghana cedis (US$11.5m).
Minister for lands, forestry and mines Esther Obeng Dapaah said the debt was derived from stumpage fees on forest timber and competitive bidding for plantation timber.
She noted those companies have had their operations suspended and been issued with final demand notices requiring them to clear their debt by September.
Steps have also been put in place to prevent the future accumulation of debt to the Forestry Commission.
“Bank guarantees covering the total amount owed by companies is now being demanded from firms before granting entry permits so that in case of default of payment, the banks will be made to pay on behalf of the firms,” said Ms Obeng Dapaah.