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    Africa loses $88bn annually through illicit financial flows – Akufo-Addo

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    Petrol to sell for GHS15 in February – IES

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    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

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    Nigeria’s national debt hits an all time as the country struggles with repayment

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    EIU analysts forecast grim economic outlook for Africa in 2023

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Prioritized expenditure to curb budget overruns – Former PIAC Chairman

bycitibusinessnews
October 20, 2016
in Government, Local Economy, Oil And Gas, Top Stories
major-daniel-ablorh-quarcoo-(rtd)

Major (Rtd) Daniel Ablorh-Quarcoo - Former Chairman, Public Interest & Accountability Committee (PIAC)

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A Former Chairman of the Public Interest and Accountability Committee (PIAC) Major Ablorh-Quarcoo (Retired) is asking government to prioritize its expenditure to avoid overspending budgets.

According to him, the tendency of government to spend on unbudgeted projects must be stopped.

The former PIAC Chairman cites how such behavior is impacting negatively on development across the country to make the point.

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He therefore urged government to ensure compliance with its budget.

“We haven’t focused properly; if we had focused and the agric ministry for instance had come out with a plan or a project indicating its objectives for the next three or four years, then we can then actually even measure the outputs as we go along,” he said.

“With this, at the end of each project period, we can access and say this is what we set ourselves to do have we achieved it and it becomes a major objective with the notion we have achieved something. Priority areas that is absolutely important.”Major Quarcoo added.

The former PIAC Chairman spoke to Citi Business News on the sidelines of the Amplifying oil and gas and Election Issues program organized by Penplusbytes.

The maiden edition of the extractive salon deliberated on the key question: “Does oil and gas matter in Ghana 2016 elections?”

This Salon forms part of Penplusbytes’ elections project: “Amplifying Oil & Gas and Election Issues”.

This is also premised on the fact that since the production of oil in commercial quantities in Ghana, the political discourse in the sector has been characterised by some lingering questions which ought to be answered.

These centre on how much revenue has been generated, what has been done with the revenues, and whether the investments made with the oil revenues yield any value for the electorates and also how to avoid the so called ‘oil curse’ among others.

–

By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana

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