THE GENERAL Assembly of the Kumasi Metropolitan Assembly (KMA) has approved the composite Budget for the operation of the Assembly for the 2014 financial year.
Under the exercise, the Assembly reviewed and adjusted its rates up for the first time in three years by 50%.
The review, which is in line with the provisions of the Local Government Act 462 of 1993 to review fees, comes after a meeting of major stakeholders following which the Finance and Administration Sub-Committee also discussed the various items with the Executive Committee on the need to charge realistic fees and rates.
The KMA also considered that three years is a long time to maintain the fees in the face of changing trends of the economy. Subsequently, market tolls are now GH0.50p instead of GH0.20p as charged previously. Fees and rates for advertising agencies, hotels, bookshops and all other stakeholders have been adjusted accordingly.
The Chronicle has gathered that all categories of advertising agencies; namely Large, medium and small would pay GH¢750, GH¢450 and GH¢300 respectively per annum in 2014.
In the hospitality Industry, five star hotels would pay a rate of GH¢4, 500 per annum with Four Star Hotel paying GH¢3000.
The three categories of Three Star hotels would pay GH¢1,500; GH¢1,350 and GH¢1,125 with Two Star hotels paying GH¢525 running down to Budget Hotels who pay GH¢ 375 annually.
The Public Relations Officer of KMA, Mr. Gordon Okuma Nyame indicated that the KMA would have to review charges annually as provided for by the Local Government Act to ensure realistic fees in order to maintain the cost of operation especially in waste collection.
He said increases would enable the Assembly embark on more development projects from its Internally Generated Fund.