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Thursday 28 March 2024

2021-03-19

[B] ARB Apex Bank admitted to Ghana-Sweden Chamber of Commerce

2021-03-17

[B] NDPC holds consultation medium term framework for 2022-2025 in Oti
[B] More investments recorded in Western Region despite COVID-19
[B] Budget cuts for legislature, judiciary won’t be entertained – Speaker

2021-03-16

[B] Pursue demands through negotiation, arbitration – Telcos told
[B] Don’t approve new fuel levies – COPEC to MPs
[B] There’s no justification for newly proposed petroleum taxes – Wereko-Brobby

2021-03-15

[B] Ghana prepares to issue $5 billion Eurobond
[B] There’ll be ‘bitter hardship’ for Ghanaians because of 2021 budget – Forson

2021-03-14

[B] 2021 budget designed to lift Ghana out of challenges imposed by COVID – Alan
[B] I’ll support Agyapa deal 2,000% – MP Egyapa Mercer
[B] Notorious Wa thieves transporting pregnant goats involved in accident
[B] Ghana risks losing €258m earmarked for the 2nd phase of Kejetia market
[B] FDA calls on media to help flush out unregistered products from market
[B] Govt provides Ghs 42.8 million in operations and payroll support to STC et al

2021-03-13

[B] Gov’t introduces 10pesewas ‘borla’ tax to clean Ghana
[B] NLA to bring back Live Draws for 5/90 Lotto
[B] Minister gives Kejetia traders final warning ahead of demolition
[B] Domelevo lands top international job after forced retirement
[B] Trotros and Taxis to enjoy free income tax, hotels and restaurants to get 30%

2021-03-12

[B] AfCFTA expected to significantly promote peace and security
[B] 2021 Budget will ensure recovery and macroeconomic stability
[B] We’ll soon provide food items to schools – Buffer Stock Company
[B] Osei Kyei-Mensah-Bonsu appointed ‘caretaker Finance Minister’
[B] 2021 Budget: Ghana Employers' Association expects pragmatic initiatives

2021-03-11

[B] Corruption is not fought alone or quietly – Domelevo
[B] Nana Addo’s anti-corruption credibility is in tatters – Gyimah-Boadi
[B] Agyapa deal should be considered dead on arrival in Parliament – John Jinapor

2021-03-10

[B] UMB Signs agreement with NARMG to provide special loans to midwives
[B] Ghana will experience economic rebound in 2021—President Akufo-Addo
[B] Price of iced sachet water now 30p
[B] All national ID numbers to become tax numbers from April - President Akufo-Addo
[B] Government will engage Parliament about Agyapa deal – Akufo-Addo

2021-03-09

[B] Stop 'examining' foodstuffs before buying them – market women to buyers
[B] Ghanaians to use COVID-19 Vaccination App to book appointment
[B] GRIDCo Explains Sunday's Nationwide Power Shutdown

2021-03-08

[B] Cement price goes up
[B] Village Savings and Loans scheme empowering rural women in Adansi north
[B] Technology is key to speeding up the global gender equality agenda- NBSSI Boss

2021-03-07

[B] Ghana for 3 years was described as one of fastest growing economies - Akufo-Addo
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Business

[ 2017-01-17 ]

2016 First half petroleum revenue drops by 50%
Ghana’s revenue from the petroleum sector for
the first half of last year dropped by over 50%.

The figure declined from US$274.47 million in 2015
to US$126.41 million for the same period last
year.

This translates to a 55% reduction in revenues
when compared to total petroleum receipts during
the same period in 2015 (US$274.47 million) but 4%
better than revenues received during the second
half of 2015.

This was revealed in the 2016 Public Interest
Accountability Committee (PIAC) report.

The report also revealed that the total half year
receipts from the petroleum sector represented
only 50.35% of the projected half year revenue of
US$251.05 million.

The Chairman for PIAC, Joseph Winful explained to
Citi Business News the drop in prices is as a
result of a fall in prices of petroleum products.


“So we know for a fact that in 2015 and 2014 oil
prices were high and then that has been the cause
of this depreciation in our revenues from
petroleum.

So it’s been dictated by the fall in prices of
petroleum and petroleum products and that is the
main reason for this slump in revenues,” he
said.

“The only thing is with the limited resource or
the reduced resource it means we have to be very
prudent and ensure that we get the best out of the
reduced revenue.” he added.

As part of recommendations, the PIAC reports
further proposed that the Ghana National Petroleum
Commission (GNPC) desist from financing
infrastructure projects with funds allocated to it
from petroleum revenues.

It proposes that any outstanding payment(s) to be
made in respect of the Western Corridor Road
project must be paid from the allocations to the
Roads and other Infrastructure priority areas.

Source - citibsinessnews.com



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