Public Interest Accountability Committee

News

GH₵1.5BN PETROLEUM REVENUE NOT ACCOUNTED FOR SINCE 2017 – PIAC
24th June 2020

An amount of GH₵1.5 billion petroleum revenue cannot be accounted for in the 2019 fiscal year, the Public Interest and Accountability Committee (PIAC) has disclosed. According to the committee, out of the GH₵2.7 billion accrued into the...

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PIAC ASKS PARLIAMENT TO ENSURE FINANCE MINISTRY ACCOUNTS FOR $1.5B PETROLEUM FUND
23rd June 2020

The Public Interest and Accountability Committee (PIAC), an independent statutory body, has urged Parliament to ensure that the Ministry of Finance accounts for the $1.5 billion unutilized Annual Budget Funding Amount (ABFA). In its key findings...

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NO ALLOCATION FROM ABFA TO GIFF FOR SECOND CONSECUTIVE YEAR – PIAC REPORT
23rd June 2020

For the second consecutive year, there was no allocation from the Annual Budget Funding Amount to the Ghana Infrastructure Investment Fund (GIIF), contrary to the provisions of the Petroleum Revenue Management Act (PRMA) and GIIF Act 877, the Public...

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US$310M REMAINS OUTSTANDING TO PETROLEUM HOLDING FUND - Ghana National Gas Company owes over US$308m for gas received
19th June 2020

An audit assessment undertaken by PricewaterhouseCoopers on behalf of the Auditor General has revealed that a total outstanding debt of US$310.34 million is owed the Petroleum Holding Fund Most of this is debt of Ghana National Gas Company Limited...

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OIL PRICES TO REMAIN LOWER, EXPORTERS TO BEAR THE BRUNT
12th June 2020

Rating agency Moody’s says despite the increase in oil prices in recent weeks, it expects prices to remain lower for longer, which will worsen pressures for oil exporters. Oil prices rose on Tuesday, as optimism about recent commitments...

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SPENDING HERITAGE FUND NOW WON’T SOLVE GHANA’S PROBLEMS – ACEP CAUTIONS GOV’T
8th April 2020

The African Centre for Energy Policy, ACEP, says efforts by government to draw funds from the Ghana Heritage Fund to stem the spread of the Coronavirus pandemic is not acceptable. The Think Tank says the use of the Fund is ‘akin to telling...

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