Public Interest Accountability Committee

News

SUPPORT HEALTH SECTOR WITH MORE OIL REVENUE – PIAC TO GOVERNMENT
28th August 2020

The Public Interest and Accountability Committee (PIAC) is calling on government and the Ministry of Finance to ensure efficiency in the use of petroleum revenue meant to fund projects under the health sector. According to PIAC, government has...

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PIAC WANTS PETROLEUM FUNDS INVESTED IN DIVERSIFIED INSTRUMENTS
24th August 2020

The Public Interest and Accountability Committee (PIAC) wants the country to move from investing petroleum funds in only low-risk Instruments to a mixture of both high and low. This, along with diversifying place of investment – mostly the...

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ADDRESS DISCRETIONARY LOOPHOLE IN CAPPING STABILISATION FUND- PIAC
21st August 2020

The Public Interest and Accountability Committee (PIAC) has said there is a loophole in allowing the Minister for Finance to place a cap on the Ghana Stabilisation Fund (GSF) at his or her discretion as necessitated by macroeconomic conditions;...

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PIAC URGES GOVERNMENT TO STICK TO CHOSEN OIL-FUNDED PROJECTS
21st August 2020

The Public Interest and Accountability Committee (PIAC) has urged government not to exceed funding beyond four priority areas as permitted by law. Per the Petroleum Revenue Management Act 2011 (PRMA), government can only fund four out of 12...

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INT’L OIL COMPANIES REFUSE TO PAY FOR SURFACE RENTALS – PIAC
20th August 2020

The Public Interest and Accountability Committee (PIAC), an independent statutory body established under Section 51 of the Petroleum Revenue Management (PRMA) Act, 2011 (Act 815), has said it has observed that over the years, some International Oil...

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PIAC WORRIED ABOUT THIN-SPREAD OF PETROLEUM REVENUES FOR PROJECTS
19th August 2020

The Public Interest and Accountability Committee (PIAC), an independent statutory body, has expressed concern about the thin-spread of petroleum revenues for projects, resulting in paltry allocations. It said the inadequate funding made it...

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