Press Release
Accra, Sunday 30th November 2014
The Africa Centre for Energy Policy (ACEP) is alarmed by reports that the Public Interest and Accountability Committee (PIAC) has been ejected from its offices for lack of funds to renew its rent. This is a slap in the face of our resolve as a country determined to protect the integrity of our oil wealth.
PIAC was created by the Petroleum Revenue Management Act (PRMA) 2011 (Act 815) to monitor compliance with the law by institutions that have mandate for the management of Ghana’s petroleum revenues. It is also tasked by law to conduct independent assessment of the uses to which petroleum revenues are put and to protect public interest.
It is sad that in spite of government’s acknowledgment of the important role PIAC plays and the promise to address its financial challenges, it has left the oil watchdog to be embarrassed with ejection from its offices.
It is not surprising to us however that PIAC is being starved of resources considering the kind of revelations it has made since its establishment on the poor utilization of petroleum revenues as well as its recent disclosures on funds that have not been accounted for. It is simply not in the interest of political governments to empower institutions that are critical of them, and this we believe is being established in Ghana.
We are more worried about proposed amendments to the PRMA that seek to tie funding for PIAC to the control of the Minister of Finance. By his lack of interest in PIAC so far, it is unlikely that the Minister will be ready to implement the proposed amendments when passed by Parliament.
We propose that the most appropriate way to adequately fund PIAC is allocate part of the petroleum revenues to it under provisions for exceptional transfers. Therefore, the proposed amendments to the law must reflect our proposal rather than what is being proposed by the Minister.
We also call on Government to as a matter of urgency provide permanent office accommodation to PIAC, a state institution, established by Act 815.
Finally, we invite Ghanaian citizens to heed the call by PIAC to show interest in its work as the legitimate safeguard of our oil wealth. This will ensure that the Committee musters the courage to execute its mandate under the law without fear or favour. We think that Ghana does not deserve this kind of national disgrace.
Singed
Mohammed Amin Adam
Executive Director
