Public Interest Accountability Committee

News

DIVERSIFY PRICING RISK THROUGH HEDGING PORTION OF GHANA’S CRUDE – PIAC TO MOF
25th June 2020

The Public Interest and Accountability Committee (PIAC) in its 2019 annual report has recommended to the Ministry of Finance to diversify pricing risk through hedging a portion of the Ghana crude. PIAC also noted that much as Government may have...

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HALT MINISTERIAL DISCRETION IN ALLOCATING EXCESS OIL REVENUE TO GSF – PIAC TO PARLIAMENT
25th June 2020

The Public Interest and Accountability Committee (PIAC) in its 2019 annual report has recommended to parliament to amend the Petroleum Revenue Management Act PRMA (ACT 815) to remove the ministerial discretion in allocating excess revenue over the...

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FINANCE MINISTRY FAILS TO ACCOUNT FOR ABFA FOR 3RD TIME – PIAC
24th June 2020

The Ministry of Finance has for the third consecutive year failed to account for unutilised Annual Budget Funding Amount (ABFA) of oil revenues,the Public Interest and Accountability Committee (PIAC) has disclosed. In its 2019 annual report on...

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LOOPHOLES IN REVENUE MANAGEMENT REMAIN LARGE – PIAC REPORT
24th June 2020

The management of petroleum revenues remains flawed with numerous challenges, ranging from lack of transparency in utilisation of funds and a deviation in the core mandate of the Ghana National Petroleum Corporation’s (GNPC), among others, 10...

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NEW PIAC REPORT REVEALS MAJOR MIS-USE OF PETROLEUM REVENUES
24th June 2020

The latest annual report of the Public Interest and Accountability Committee – the statutory body established to monitor petroleum sector revenues and expenditures – covering 2019 has revealed major legal infractions with regards to how...

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PIAC RAISES CONCERNS OVER GH¢1.5BN OIL CASH
24th June 2020

The Public Interest and Accountability Committee (PIAC), which monitors and evaluates the management and use of petroleum revenues, is asking Parliament to compel the central government to account for about GH¢1.5bn of oil revenue which was...

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