You’ve failed again to provide data on ABFA for analysis– PIAC criticizes Finance Ministry

The Public Interest and Accountability Committee (PIAC) has chastised the Ministry of Finance for failing again to provide data on the Annual Budgeting Funding Amount for its analysis and reporting.

This practice it says makes it difficult to reconcile disbursements and expenditure, and ultimately undermines the spirit of accountability as envisaged in the Petroleum Revenue Management Act.

In its latest 2020 Semi-Annual Report, it said, cumulative indebtedness to Ghana National Gas Company continued to increase to $942.2 million as a result of the failure of its customers to honour their obligations, a situation it says is worrying.

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Some of the recommendations of the report are the call by PIAC for Parliament to strengthen its oversight mandate on the Ministry of Finance as well as the call for agreement between the Ghana national Gas Company and the GNPC on a payment plan over the receipts from the Cash Waterfall Mechanism.

Source:myjoyonline.com