News:
October 17, 2014
A group calling itself the African Parliamentarians’ Network against Corruption (APNAC), is proposing for wide-ranging amendments to Ghana’s Petroleum Revenue Management Law.
According to them such a move will help block loopholes that breed corruption in the country.
The Petroleum management Act was passed in 2011 to ensure that funds accrued from Ghana’s oil revenue is channeled into the Heritage Fund which was set up to provide an endowment to support development for future generations when petroleum reserves have been depleted.
In May 2014, the General Secretary of the governing National Democratic Congress (NDC), Johnson Asiedu Nketia suggested government must be allowed to use the money in the Heritage Fund to stop it from further borrowing.
Various groups including the minority in parliament kicked against the idea.
Speaking on the Citi Eye Witness News on Tuesday, the Minority Speaker of Parliament, Osei Kyei Mensah Bonsu who is also a member of APNAC insisted that “there are clear cracks that we have to look at,” hence the need to review the law.
He explained that the “this act was passed under some considerable speed” because “we needed to accommodate the 2011 budget.”
He argued that calling for a review of the law is not meant “to demonize what efforts that went into crafting this law.”
“It is important for us to revisit the act and close the windows of opportunity which allow for some people to reap where they have not sown and make sure that the revenues that are accruing would be used in the interest of the good people of this country in a very transparent and accountable manner,” he added.
citifmonline.com