Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

De-link oil revenue funded projects from others – PIAC

  • SOURCE: | Editor
  • Major-Ablorh-QuarcooMajor-Ablorh-QuarcooThe Public Interest and Accountability Committee (PIAC) has asked governments to de-link oil-revenue funded projects from others. This, the Committee said will make it easier to trace how the funds were used.

    PIAC Chairman Major Daniel Sowa Ablorh-Quarcoo (retired) made the call at a public forum held in Ho on Thursday to review the Committee’s 2012 report on Management of Petroleum Revenues.

    Such de-linking, he said, would make monitoring and evaluation of how Ghana’s petroleum funds are spent less burdensome.

    PIAC which has representatives from a cross section of professional bodies, civil society groups among others, was set up in accordance with the country’s Petroleum Revenue Management Act to monitor and evaluate the management and spending of the country’s petroleum revenue.

    Major Ablorh-Quarcoo said the 9 per cent of the petroleum revenue which according to the Act, is to be put aside into a heritage fund, is a vital safeguard for national economic stability.

    He said it has worked for Norway, where a similar fund kept aggregating over the years, and now a huge source of investable funds.

    Source: GNA

    Get the latest news and updates on Ghana’s oil and gas value chain by following us Reporting Oil and Gas on twitter @oilgasghana and like our facebook page and get at us on Google+. Subscribe to our group to get update

     

    Share this article

    Leave a reply

    Personality of the Month
    Poll

    Do you think the President should fund the free SHS with oil revenue?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Jul 2018 >>
    MTWTFSS
    25 26 27 28 29 30 1
    2 3 4 5 6 7 8
    9 10 11 12 13 14 15
    16 17 18 19 20 21 22
    23 24 25 26 27 28 29
    30 31 1 2 3 4 5
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar