{"id":646713,"date":"2019-06-28T13:14:43","date_gmt":"2019-06-28T13:14:43","guid":{"rendered":"
\n\t\t\n

John Peter Amewu \u2013 Minister of Energy<\/strong><\/p>\n\n\n\n

Members of Parliament (MPs) from both sides\nyesterday debated the 2018 semi-annual report of the Public Interest and\nAccountability Committee (PIAC) on the management of"},"modified":"2019-06-28T13:14:43","modified_gmt":"2019-06-28T13:14:43","slug":"mps-ask-govt-to-spend-gh%c2%a2440m-idle-oil-cash","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/06\/28\/mps-ask-govt-to-spend-gh%c2%a2440m-idle-oil-cash\/","title":{"rendered":"MPs Ask Gov\u2019t To Spend GH\u00a2440m Idle Oil Cash"},"content":{"rendered":"

<\/p>\n

\n

John Peter Amewu \u2013 Minister of Energy<\/strong><\/p>\n

Members of Parliament (MPs) from both sides
\nyesterday debated the 2018 semi-annual report of the Public Interest and
\nAccountability Committee (PIAC) on the management of petroleum revenues from
\nJanuary to June, 2018, with much focus on an amount of GH\u00a2440 million from oil
\nrevenues sitting idle in an account for a year without being utilised.<\/p>\n

The MPs, particularly the Minority members,
\nwere also concerned about expenses of oil revenues allocated to the Ghana
\nNational Petroleum Corporation (GNPC) by the corporation and indebtedness of
\nstate-owned enterprises and government to the corporation totalling GH\u00a21.3
\nbillion.<\/p>\n

The Minority Leader, Haruna Iddrisu, who
\nseconded the motion on the report for it to be adopted by the House, expressed
\nworry about the unused GH\u00a2440 million oil revenue sitting idle in an account
\nfor a year while the government was struggling to pay for national health
\ninsurance, common fund and pensions.<\/p>\n

He said Minister of Finance must, as a matter
\nof urgency, seek the authorization of Parliament to spend the money for the
\nbenefit of Ghanaians.<\/p>\n

The ranking member on Finance Committee, Ato Forson,
\nwho is also the National Democratic Congress (NDC) MP for Ajumako\/Enyan\/Essiam,
\nquestioned why so much money has been allocated to the GNPC for staff cost
\nexpenses and administrative capital expenditure which he said is costing the
\nnation $16.7 million.<\/p>\n

The New Patriotic Party (NPP) MP for Effutu,
\nAlex Afenyo-Markin, who is also a member of the Finance Committee, said the
\ntime had come for both sides of the House to come to a consensus on government
\nusing resources of GNPC to serve as guarantee or collateral to fund capital
\ninvestments. <\/p>\n

He stressed that the NDC government was guilty in
\nusing the GNPC to guarantee for the investment in the Karpower.<\/p>\n

The NPP MP for Asikuma-Odoben-Brakwa, Anthony Effah, a member of the Finance Committee, who presented the report in Parliament said that at the end of June 2018, net profit on investment of the Ghana Petroleum Funds since inception was $34.7 million compared to $28.2 million realized at the end of December, 2017.<\/p>\n

By Thomas Fosu Jnr<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

John Peter Amewu \u2013 Minister of Energy Members of Parliament (MPs) from both sides yesterday debated the 2018 semi-annual report of the Public Interest and Accountability Committee (PIAC) on the management of petroleum revenues from January to June, 2018, with much focus on an amount of GH\u00a2440 million from oil revenues sitting idle in an […]<\/p>\n","protected":false},"author":1,"featured_media":646714,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-646713","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics"],"yoast_head":"\nMPs Ask Gov\u2019t To Spend GH\u00a2440m Idle Oil Cash - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/06\/28\/mps-ask-govt-to-spend-gh\u00a2440m-idle-oil-cash\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"MPs Ask Gov\u2019t To Spend GH\u00a2440m Idle Oil Cash - 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