By Seth Ayiah
Public Interest and Accountability Committee PIAC, has reiterated its call on Ghana National Petroleum Corporation, GNPC, to comply with the provision in the Petroleum Revenue Management Act, PRMA, by lodging its direct and indirect revenue into the Petroleum Holding Fund.
According to the Committee, GNPC is ”denying other funds such as the Heritage Fund of the needed resources”.
In an interview with GBC News, a member of the Committee, Eric Defor, said the Committee submits its Reports to the Presidency and Parliament and has recommended the merging of PNDC Law 64 which established the GNPC and PRMA to prevent GNPC from using the PNDC Law when it is convenient for it to do so and also receive a financial injection from the PRMA.
Mr. Defor said the 30 percent of Petroleum Revenue in infrastructure is not making the required impact. He said though PIAC does not have the power to prosecute any infraction of PRMA, it is doing its best to ensure accountability.
Mr. Defor charged the government to begin to label projects executed with petroleum revenue for the people to know and appreciate that they are benefiting from the oil fund.
