Public Interest Accountability Committee

News

PETROLEUM HOLDING FUND FOR 2020 Q1 DROPS BY $124M AS AGAINST 2019 Q1
2nd August 2020

A new report by the Bank of Ghana shows that the country received a total of 310.14 million dollars into Ghana’s Petroleum Holding Fund (PHF) for the first half of 2020. Compared to same period in 2019, the figure dropped by $124. 34...

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PIAC URGES TIMELY DISBURSEMENT OF OIL REVENUES FOR PROJECTS
17th July 2020

The Public Interest and Accountability Committee (PIAC) has urged government to disburse oil revenues earmarked for projects, rather than accumulating it over time. According to the Committee, which has oversight responsibility over the prudent...

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PIAC PROPOSES AMENDMENT TO THE PETROLEUM REVENUE MANAGEMENT ACT
16th July 2020

The Public Interest and Accountability Committee (PIAC) has recommended an amendment to the Petroleum Revenue Management Act (PRMA) to remove the ministerial discretion in the allocation of excess revenue over the Ghana Stabilisation Fund (GSF)...

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PIAC DEMANDS ACCOUNTABILITY FOR GH₵ 1.5 BILLION UNUTILISED ABFA FROM FINANCE MINISTRY
14th July 2020

The Public Interest and Accountability Committee (PIAC) has called on Parliament to compel the Ministry of Finance to account for a GH₵1. 5 billion unutilised funds in the Annual Budget Funding Amount (ABFA) for 2019. The ABFA is the portion of...

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LIQUIDITY CRUNCH STARES AT GNPC AS CSR, NON-CORE EXPENSES DRAIN CASH FLOWS
8th July 2020

A liquidity scare is staring the Ghana National Petroleum Corporation (GNPC) in the face after increased spending on corporate social responsibility and other non-core expenses reduced the firm’s ability to smoothly take up its share of...

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COMPEL FINANCE MINISTRY TO ACCOUNT FOR UNUTILISED FUND — PIAC
6th July 2020

THE Public Interest and Accountability Committee (PIAC) has called on Parliament to compel the Ministry of Finance to account for unutilised funds in the Annual Budget Funding Amount (ABFA). The ABFA is the portion of petroleum revenues earmarked...

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