Government Will Ensure Adequate Financial Support For PIAC – President Akufo-Addo
President Akufo-Addo has assured the Public Interest and Accountability Committee (PIAC) that as long as he remains President, he will ensure adequate financing for the committee in order to support their mandate of ensuring efficient use of the country’s revenue from the petroleum sector.
Addressing members of the Public Interest and Accountability Committee (PIAC) at a ceremony held at the Kempinski Hotel to launch the 10th anniversary of the Committee under the theme: “Strengthening Citizens’ Ownership and Understanding of PIAC and it Oversight of Petroleum Revenue Management”, President Akufo-Addo said he is determined to maintain a cordial relationship between his government and PIAC.
“Government has ensured that unlike in the past, budgetary allocations of PIAC have been released to enable it undertake its activities” President Akufo-Addo said. “For as long as I remain President, support to PIAC will be forthcoming and on time” President Akufo-Addo added.
PIAC/Government Relations
In his address, the President noted that the relationship between PIAC and government which were in the past somewhat stormy, have at least since he took office in 2017, been largely cordial and fruitful and “this has resulted in the Prudent use of our nation’s petroleum revenues for the welfare and benefit of the Ghanaian people”. President Akufo-Addo indicated that he administration will do all it can to maintain and build on the improving relationship with PIAC.
Delay in information transmission
According to the President, there is one issue that had to be addressed and “It has to do with the delay in the transmission of information between PIAC and the Ministry of Finance emanating from the distortion in the deadline schedules of the reporting obligations of the two institutions”. To this end, he called on the two institutions to work on same to improve on the transmission of information arrangement.
“Government is fully committed to supporting PIAC and will help ensure that petroleum revenues are well managed for the benefit of all Ghanaians” President Akufo-Addo iterated.
PIAC Chairman
PIAC Chairman, Professor Kwame Adom-Frimpong, in his welcome address called on government to ensure that it releases budgetary support allocated to PIAC in a timely manner. He added that PIAC will continue to provide all the needed guidance and support to government to guarantee the efficient use of the country’s petroleum resources to improve the living standards of the Ghanaian people.
PIAC
The Public Interest and Accountability Committee (PIAC) is an independent statutory body mandated to promote transparency and accountability in the management of petroleum revenues in Ghana. The Committee has three main objects as outlined in the PRMA. The first is to monitor and evaluate compliance with the Act by government and relevant institutions in the management and use of petroleum revenues and investments. Secondly, the Committee is tasked to provide space and platform for the public to debate on whether spending prospects and management and use of revenues conform to development priorities as provided under section 21 and lastly, to provide independent assessment on the management and use of petroleum revenues to assist parliament and the executive in the oversight and the performance of related functions.
By Wilberforce Asare