Tag: Petroleum Revenue Management Act
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PRMA must be reviewed to restrict government’s use of oil money – Dr. Antwi
The Vice Dean of the School of Graduate Studies at the University of Professional Studies, Accra, Dr Samuel Antwi is calling for a review of the Petroleum Revenue Management Act (PRMA) to further regulate the government’s expenditure of funds generated from the sale of the country’s oil. He argued that the government under the current…
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Use petroleum funds for critical infrastructure in 2020 – PIAC to Gov’t
The Chairman of the Public Interest and Accountability Committee (PIAC), Dr. Steve Manteaw, has challenged government to dilute the funding sources for its Free Senior High School Policy, in order to free up funds for critical infrastructure projects in 2020. According to PIAC’s 2018 Annual report, out of the amount utilized from the Annual Budget…
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IFS demands new law to restrict GNPC’s activities; ensure more transparency
The Institute for Fiscal Studies (IFS), a policy think tank, has called for the passage of a new law that will rein in the non-oil related activities of the Ghana National Petroleum Corporation (GNPC) as well as make them more accountable. The institute’s latest Policy Brief entitled ‘Assessing Management of Ghana National Petroleum Corporation Revenue,’…
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Gov’t rakes US$434.5m in petroleum revenues in first half of 2019
The Bank of Ghana has revealed that the government made an amount of US$434.5 million from oil sale from its three oil fields as well as in other fees and taxes. The central bank in its publication of the first-half performance of the Ghana Petroleum Funds revealed that oil sale from Tweneboa, Enyenra, Ntomme, Jubilee…
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No data on ABFA expenditure in PIAC report
The Public Interest and Accountability Committee, PIAC, is demanding sanctions for institutions that delay in submitting data for its reports. The Committee which has oversight responsibility in the management of petroleum revenue maintains that the development impacts adversely on its operations. The Chairman of the Public Interest and Accountability Committee, Dr. Steve Manteaw in an…