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About GHC 280 Million Distributed From Petroleum Holding Fund in 2017- PIAC Report

  • SOURCE: GBC Online | Editor
  • The 2017 semi-annual report published by The Public Interest and Accountability Committee (PIAC), has revealed that 277 million 793,329 dollars was distributed from the Petroleum Holding Fund by the Bank of Ghana from January to June.

    The report revealed that the Annual Budget Funding Account received 84 point 729 million dollars for distribution to the priority areas.

    This is 60 percent more than the same period in 2016. GNPC received an amount of 90 point nine -zero -four million dollars.

    The Ghana Heritage Fund received 30 point- 647 million dollars while the Ghana Stabilisation Fund got 71 point-511 million dollars.

    The Ghana Heritage Fund as the end of June last year stood at 311-point ,zero -48 million dollars and the Ghana Stabilisation Fund at the same period stood at 280 -point -300 million dollars.

    The report indicated that 53 -point one -four million dollars was disbursed from the Annual Budget Funding Account in first half last year.

    This was spent on three out of the four priority areas.

    Agriculture received 17 point 92 million Ghana cedis, Road, Rail and other critical infrastructure got 29-point 22 million Ghana cedis.

    Physical Infrastructure and Service delivery in Education also received six million Ghana cedis.

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