The President, Nana Addo Dankwa Akufo-Addo has expressed worry over the delay in transmission of information between the Public Interest and Accountability Committee (PIAC) and the Ministry of Finance, which according to him fuels controversy.
According to President Akufo-Addo, the controversy, emanating from the distortions in the deadline schedules of the reporting obligations of the two institutions, has not been helpful.
He has, therefore, urged the two institutions to work to address that challenge, recommending an amendment of the relevant provisions in the Petroleum Revenue Management Act (PRMA).
President Akufo-Addo was speaking on Wednesday, March 24, 2021, at the 10 years anniversary celebration launch of PIAC; an event held in Accra.
He said: “There is one issue which has to be addressed. It has to do with the delay in transmission of information between PIAC and the Ministry of Finance, emanating from the distortions in the deadline schedules of the reporting obligations of the two institutions.
“This has, sometimes, stoked controversy which, in my view, has not been helpful, and an amendment of the relevant provisions in the Petroleum Revenue Management Act could help resolve this situation.”
Having said that, the President reiterated the fact that the government was fully committed to supporting PIAC and would help it ensure that petroleum revenues were well managed for the benefit of all Ghanaians.
Earlier, the 2018/2019 chairman of the PIAC, Dr Steve Manteaw, had announced openly at the event, whilst telling the PIAC story, that governments had been very supportive over the decade.
He recalled the no- accommodation situation, where landlords were on their neck for rent, among other challenging developments.
In his address, President Akufo-Addo remarked that since 2017, the government had ensured that, unlike in the past, the budgetary allocations of PIAC had been released to enable it undertake its activities. “In 2020, for example, an amount of three million, one hundred thousand cedis (GH¢3.1 million) was given to PIAC, with two million, three hundred and fifty thousand cedis (GH¢2.35 million) set to be released for this year, in spite of the pandemic.
“Indeed, the Committee utilised a part of its 2018 budgetary allocation to procure its current office building at East Legon, in Accra, which brought an end to the era of evictions and threats of eviction by landlords. For as long as I remain President, support to PIAC will be forthcoming and on time,” he added.
Concluding his address, President Akufo-Addo urged the Ministry of Finance and PIAC to rekindle the holding of their quarterly meetings to ensure that issues of mutual interest and concern were addressed through dialogue.
He also appealed to PIAC, in its publications, to help provide the general public with a better understanding of how petroleum resources are managed, and clarify swiftly its position on matters should it be misconstrued in the media space.
Touching on the 10 years celebration of PIAC, the President encouraged the committee, now more than ever, to continue to engage government and relevant stakeholders, and help work towards the economic transformation of Ghana through the efficient use of our hydrocarbon resources.
Meanwhile, he assured that: “Government is committed to its continued solidarity with PIAC, and assures it of Government’s considerable interest in all of its activities. I am hopeful that the co-operation between Government and PIAC will be deepened even further in the coming years for the goal of a united, progressive and prosperous Ghana.”
In his welcome address, chairman of PIAC, Prof. Kwame Adom-Frimpong opined that the anniversary was a moment for the committee to take stock of its activities and plan for the future.
However, he asserted that PIAC had made significant achievements to improve petroleum revenue management; adding that 18 “impressive” reports have been produced by PIAC from 2011-2020.
Prof. Joe Amoako-Tuffour, Secretary to the Economic Management Team, who played a key role in the setting up of PIAC, narrated the brain behind the committee.
As part of the anniversary launch, an anniversary logo was also out-doored by the President, Nana Addo Dankwa Akufo-Addo.
The post President wants PIAC, Finance Ministry ‘conflict’ resolved appeared first on The Chronicle Online.
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