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Tuesday 19 March 2024

2021-04-07

[N] As Majority Leader be circumspect with your utterances

2021-03-19

[I] Goldman Sachs staff revolt at ‘98-hour week’
[I] Over half of staff go back to workplace
[I] Health chiefs confirm Oxford-AstraZeneca Covid jab safe to use
[S] Kotoko Signs Second Brazalian Player
[N] It Is A Blatant Lie That I’ve Declared My Prez Ambition-Agric Minister
[S] Accra Mayor to change face of sports in Greater Accra
[S] Ambassador Lutterodt charges GOC prez to tackle Martha Bissah issue
[S] Ben Nunoo-Mensah hits ground running for GOC
[S] Black Stars to Engage Uzbekistan In International Friendly
[N] House of Chiefs calls for collaboration with MMDCEs for development
[N] Baby Harvesting: More suspects picked
[N] Police pledge commitment to bringing Sheikh Maikano’s murderers to book
[B] ARB Apex Bank admitted to Ghana-Sweden Chamber of Commerce
[N] Desist from starting race ahead of time - Obiri Boahen to NPP presidential
[N] Gov’t announces construction of five interchanges in Ashanti
[N] Controversial textbooks: NPP urges NaCCA to enforce rules without fear or favour
[N] Staff working on Tamale interchange call off strike
[N] Newly proposed taxes a huge hindrance to businesses’ recovery
[N] Government can’t take a unilateral decision on salaries for public workers
[N] Ghana records 2 new Covid-19 variants; experts call for immediate action

2021-03-17

[S] First GFA safety and security seminar takes place today
[B] NDPC holds consultation medium term framework for 2022-2025 in Oti
[B] More investments recorded in Western Region despite COVID-19
[N] Ghana records 698 COVID-19 deaths
[N] NDC’s Ofosu Ampofo behaves like a toddler – Allotey Jacobs
[S] Don’t tax sports betting, ban it – Ato Forson to government
[N] Ama Benyiwaa Doe slams Allotey Jacobs; says he has no influence
[N] Approving Akufo-Addo’s ministers ‘regrettable and unfortunate’ – NDC caucus
[S] Don't rush Satellites players, warns GFA coaching boss
[N] Eastern Regional Hospital detains 246 patients for non-settlement of bills
[N] COVID-19 vaccination in Ghana: 1,000 reports received on adverse effects
[N] Ignore reports of rift between local, foreign staff at AfCFTA secretariat – Govt
[N] Remain calm, support our leadership in Parliament – NDC Council of Elders
[N] Ghana hasn’t recorded any case of blood clots from COVID-19 vaccination – FDA
[N] 9-year-old boy burnt to death as stepfather sets house ablaze
[B] Budget cuts for legislature, judiciary won’t be entertained – Speaker
[I] Half of UK managers back mandatory Covid vaccines for office work
[I] Brussels to propose Covid certificate to allow EU-wide travel

2021-03-16

[I] Nick Candy leads £1m drive to oust London mayor Sadiq Khan
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General News

[ 2017-11-14 ]

Petroleum Revenue Mgt. Act breached for 7-yrs running – PIAC
The Public Interest and Accountability Committee
(PIAC), has lamented the poor handling of projects
funded with Ghana’s oil revenue without
adherence to the Petroleum Revenue Management
Act.

According to a member of PIAC, Dr. Steve Manteaw,
successive governments have breached the Act for
seven years running.

The Act mandates the Finance Minister to report on
all oil-funded projects in the year under review.

But Dr. Manteaw said the provision has been
breached by various Finance Ministers including,
Ken Ofori Atta.

“Over the period since we started producing oil
in this country, the past ministers and the
current Minister [of Finance] have not complied
with that provision in terms of giving us update
on the stage of completion of oil projects. A
project inspection undertaken by PIAC recently has
revealed that a lot of the projects are
non-existent and those that are in existent, are
deteriorating barely a year into their completion
raising serious concerns about the quality of
spending and value for money considerations that
underpin the use of oil revenues,” Dr. Manteaw
added.

Dr. Manteaw was speaking at a breakfast meeting in
Parliament today, Tuesday, where he made the
remarks.

PIAC needs prosecutorial powers

Some stakeholders within the oil sector had
earlier called for more powers to given PIAC to
prosecute persons who misappropriate Ghana’s oil
revenue.

This in their estimation could empower PIAC to
fully fulfill its mandate of ensuring the
efficient management of the nation’s petroleum
revenues for sustainable development.

About the Petroleum Revenue Management (Amendment)
Bill, 2015
Parliament in 2015 passed the Petroleum Revenue
Management (Amendment) Bill, 2015 into law.

The Bill amended an existing Act to provide for
the allocation of Funds for the Ghana
Infrastructure and Investment Funds, address some
issues with the Ghana Stabilization Fund, the
benchmark revenue projection, and further empower
the Ghana National Petroleum Company (GNPC) to
become a commercial entity and a strong operator
in the oil and gas sector.

The law was expected to also provide a legal
framework for the collection, allocation and
management of petroleum revenue in a responsible,
transparent, accountable and sustainable manner
for the benefit of Ghanaians in accordance with
Article 36 of the 1992 Constitution.

Source - citifmonline.com



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