Petroleum revenue: 80% of recommendations made need to be worked on – PIAC
The Public Interest Accountability Committee (PIAC) has expressed satisfaction with some ongoing projects in the Western North and the North East Regions.
PIAC wants a timely assessment of Ghana’s management and use of petroleum revenues to identify areas of strength and weakness to strategise for the future
The Public Interest and Accountability Committee (PIAC) has cautioned the Ghana National Petroleum Corporation (GNPC) against continuously lending to the government.
PIAC has expressed worry over the manner in which oil revenue is used to pay judgement debt awarded against the state.
Petroleum revenue contribution to the national budget over the last 10 years has been estimated at US$2.6billion,
The Ghana National Petroleum Corporation (GNPC) has challenged the Public Interest and Accountability Committee (PIAC) to be specific on its call for a cap on the percentage of the annual revenue that the corporation could spend on its corporate social investments (CSI).
The Public Interest Accountability Committee (PIAC) has expressedsatisfaction with some ongoing projects in the Western North and theNorth East Regions.
PIAC therefore recommended the labelling of Annual Budget Funding Amount (ABFA)-funded projects for identification.