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Finance Ministry fails to account for ABFA for 3rd time – PIAC
The Ministry of Finance has for the third consecutive year failed to account for unutilised Annual Budget Funding Amount (ABFA) of oil revenues,the Public Interest and Accountability Committee (PIAC) has disclosed.
In its 2019 annual report on the management and use of petroleum revenues launched in Accra yesterday, the committee revealed that the amount stood at GH¢1.5 billion at the end of 2019.
The ministry was also cited for violating portions of the Petroleum Revenue Management Act (PRMA) 893 and Ghana Investment Infrastructure Fund (GIIF) Act 877.
The Chairman of the Committee, Mr Noble Wadzah has therefore urged parliament to bring its oversight mandate to bear on the ministry’s “impunity and failure for not accounting for unutilised ABFA” and other violations.
The 2019 PIAC Report covering the period January to December, encompasses issues including the management and utilisation of petroleum revenues and findings pertinent to the performance of various institutions in the sector.
It is inline of PIAC’s statutory obligation under the Petroleum Revenue Management (Amendment) Act, 2015 (Act 893), which enjoins PIAC to publish reports to keep the citizenry updated on petroleum revenue and solicit feedback.
Giving highlights of key findings of the report, Mr Wadzah said the total ABFA available for spending last year was GH¢2.7 billion out of which GH¢1.2billion was utilised leaving a balance of GH¢1.5 to be utilised and accounted for.
“For the third consecutive year, not only has a sizeable proportion of the ABFA not been fully utilised but it has not been accounted for, impeding PIAC’s appreciation of the full scope of accounting to the public on the utilisation of our petroleum revenues “, he said.
In the same period, he disclosed that 45.14 per cent of the actual ABFA was spent on recurrent expenditure, with 54.86 per cent on capital expenditure in violation of Section 8(4) (a) of Act 893 which required that a minimum of 70 per cent be spent on public investment expenditure.
Additionally, he said for the second consecutive year, “there was no allocation from the ABFA to the Ghana Infrastructure Investment Fund (GIIF), contrary to the provisions of the PRMA and GIIF Act 877.”
The PIAC report reiterated its call on Parliament to restrict portions of the Ghana National Petroleum Corporation’s (GNPC) corporate social responsibility (CSR) and guarantees to state institutions, especially since the corporation was unable to respond to some of its cash calls.
It disclosed that the corporation provided guarantees amounting to US$645.5 million to state-owned enterprises (SOEs) last year and was almost double, compared with the previous years’ guarantees while it outweighed its total equity financing expenditure of US$164.79 million for the period.
“GNPC’s expenditure on Corporate Social Initiatives (CSI) remains high, increasing from GH¢41.49 million in 2018 to GH¢49.98 million in 2019”, the report stated.
The report also asked the government to address the indebtedness of the Ghana National Gas Corporation as it was unable to pay $334.6 million worth of raw gas received from GNPC, largely due to Volta River Authority’s debt.
The report revealed that US$925.04 million was disbursed from the Petroleum Holding Fund for the period under review, constituting a decrease of 5.33 per cent from that of 2018, and 14.41 per cent less than projected for 2019.
On production, the report said, a total of 71.4 million barrels of oil was obtained from the three production fields, exceeding 2018 production by 15 per cent while gas production shot up by 85 per cent to 169,508.61 million standard cubic feet of gas.
The President of the Ghana Journalist Association (GJA) Roland Affail Monney, commended PIAC for keeping Ghanaians up to speed about the oil sector and urged it to continue living up to expectation.
Source: Ghanaian Times
Muslims across the country celebrated this year’s Eid-ul-Adha in a colourful and spiritually uplifting atmosphere under the theme, “A Season of Sacrifice, Solidarity and Spiritual Renewal.”
The celebration brought together Muslims from diverse backgrounds in a remarkable display of faith, unity and cultural heritage.
The occasion was marked by special Eid prayers at various designated grounds, the slaughtering of rams in homes for sharing among family members, friends and the less privileged, as well as musical concerts and recreational activities including horse riding.
Leading the celebration was the Chief Imam, Dr Sheikh Osman Sharubutu.
While the national celebration was held at the Black Star Square where President John Dramani Mahama was the Special Guest of Honour, similar gatherings took place at different centres across the capital and other regions of the country.
A visit by The Spectator to some celebration grounds revealed Muslims, both young and old, elegantly dressed in colourful jalabiya and other Islamic attire, reflecting the rich culture and traditions of the Muslim community.
The celebration also portrayed the spirit of religious tolerance and peaceful coexistence in the country, as a number of Christians joined their Muslim counterparts to mark the occasion.
Muslim leaders and government officials used the opportunity to call on the faithful to uphold the teachings of the Holy Quran, renew their spiritual commitment and refrain from acts capable of undermining the peace, unity and security of the nation.
They further urged Ghanaians to continue to live in harmony and support one another for national development.
By Linda Abrefi Wadie
Dear Obaa Yaa,
During Eid-ul- Adha celebration, I decided to spend the weekend at my boyfriend’s place since we were planning towards our marriage.
To my surprise, what keeps me wide awake, restless and frustrated every single time is that he snores loudly like a generator running on full power, and I genuinely cannot get any rest
At a point, I thought it was just a normal thing, but I have realised it is something he does with ease and doesn’t see anything wrong with it.
When he steps out in the morning, I try to get enough sleep because I may not sleep in the evening.
The most annoying thing is that, he always wants to cuddle me. These two things are a no for me and a red flag.
We are about to get married, what should I do?
Enam, Keta.
Dear Enam,
The snoring and constant cuddling are frustrating, but you don’t have to choose between sleep and closeness.
Start with the snoring: check if it’s worse when he sleeps on his back, cut out alcohol before bed, try nasal strips or a humidifier, and see a doctor if he pauses while breathing.
For quick relief, foam earplugs or noise-cancelling headphones help a lot.
Separate blankets, a bigger bed, or sleeping apart on some nights often makes couples rest well and feel closer overall.
Bring this up before the wedding .Tell him you want to wake up next to him for years to come, but sleep deprivation makes you both miserable.
Test earplugs and side-sleeping this weekend, and if it’s still unbearable, bring in a doctor. Good sleep matters more for your marriage than staying glued together all night.
