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Some members of the Public Interest and Accountability Committee (PIAC) on Project Monitoring have expressed unhappiness with what they described as "waste" of oil revenues on the construction of a durbar ground for the people of New Takoradi in the Western Region. The project, completed in 2020 is in a…
GNPC urged to reposition for energy transition drive
Petroleum fund Another issue Mr Agyeman cited was the administration of the Ghana Petroleum Fund (GPF), which is made up of the Ghana Heritage Fund (GHF) and the Ghana Stabilisation Fund (GSF). He noted that the instruments in which the GHF was invested were low risk resulting in low returns, therefore, there was the need to diversify the investment portfolios so that the returns at the end of the day would be quite appreciable. On the other hand, he explained that although the essence of the GSF is to provide economic buffer in times of unanticipated shocks to the national economy, about 90 ...
705 The Public Interest and Accountability Committee (PIAC) has said that 10 years is ripe for the country to do an introspection of how it has managed revenues from its oil resource. Although PIAC has over the years raised critical issues relating to the management and use of petroleum revenues, it said was time to highlight all the issues in a single document to ensure that they were given urgent attention and commitment for redress. Subsequently, an issue paper released by the committee catalogues a number of issues that need urgent attention in the petroleum revenue management space. In a...