News:
April 12, 2025
In view of the revision of Ghana’s Parliamentary standing orders, a new Committee has been curved out of the Finance Committee – Economy and Development Committee.
According to the chairman of the Economy and Development Committee Eric Afful, this is a new Committee and it has a critical role to play, as it would work hand in hand with the Finance Ministry when it comes to fiscal policy, revenue expenditure and tax within the fiscal space.
The Chairman further added that same Committee has an oversight role over the Bank of Ghana on Monetary Policy and the National Development Planning Commission (NDPC).
Again, we have oversight responsibility with all the Ministries, Department and Agencies on how they are spending the appropriation sum approved for them in the 2025 budget. More especially in which areas they are spending the funds; how much was appropriated to them by the Ministry of Finance; and if they got the amount appropriate to them.
Mr Afful further revealed that, they have something to do with the development Authorities – they have oversight over the Middle Belt Authority, Northern Belt Authority and Southern Belt Authority. “Our mandate also covers them and their mandate is broad”.
And anything that relate to the Finance Ministry, which is related to development which would have an economic impact would be referred to them; adding that the government’s 24-hour economy programme is also the work of this committee.
The Committee has to work with the 24-hour Economy Secretariat for them to explain to Ghanaians better how it would impact their lives. “It is a new committee and we need to let its functions well known; and we have drawn up our programme for the year. We are going to monitor various MDAs as to how they are expending their appropriated amounts”.
He disclosed that the Committee is likely to hold public hearing where “we invite all the MDAs; we have to let Ghanaians know what they are doing. The mandate of the committee we cannot keep this committee in the dark, so that people would know the work the Ministries, Department and Agencies are doing.”
He explained that unlike the Public Account Committee (PAC) that relies on the reports of the Auditor General, the Economy and Development Committee would work directly with the MDAs. “We would invite you and you tell Ghanaians the work you are doing. You have been allocated money; we will call you to tell us how you are working to develop this economy”, he concluded.
Kwaku Sakyi-Danso/Ghanamps.com