32 articles
In September 2011, the Public Interest and Accountability Committee (PIAC) was established as an additional oversight body through the Petroleum Revenue Management Act (PRMA), 2011 (Act 815), as part of efforts to ensure transparency and accountability in the management and use of petroleum revenues
The 2024 report on petroleum revenue utilisation priced by the Public Interest and Accountability Committee (PIAC) has made a number a number of recommendations to the government of Ghana’s upstream petroleum industry. This was after the report made several observations in the upstream petroleum ind
The decline in crude oil production threatens the ability of the government to generate revenue to fund projects and initiatives such as education, the Public Interest and Accountability Committee (PIAC), the body set up to monitor the utilization of petroleum revenue in Ghana, has said. PIAC notes
The Public Interest and Accountability Committee (PIAC) says it has observed with concern, a decline in crude oil production for four years running. According to the Committee, this is a worrying trend that must be curbed. “Crude oil production declined for the fourth consecutive year in 2023. Produ
The Public Interest and Accountability Committee (PIAC) on Monday, May 21 launched its 2023 Annual Report. The publication of the report is in fulfilment of PIAC’s statutory obligation under the Petroleum Revenue Management Act, 2011 (Act 815), as amended by Act 893, to publish Semi-Annual and Annua
The Public Interest and Accountability Committee (PIAC) on Monday, May 21 launched its 2023 Annual Report. The publication of the report is in fulfilment of PIAC’s statutory obligation under the Petroleum Revenue Management Act, 2011 (Act 815), as amended by Act 893, to publish Semi-Annual and Annua
The Public Interest and Accountability Committee (PIAC) has published its latest Issue Paper titled “The Role of The Ghana National Petroleum Corporation (GNPC) in the Upstream Petroleum Industry: Challenges and Prospects.” This Issue Paper highlights the challenges being faced by the National Oil C
The Minority in Parliament has sent a stern warning to the Minister of Finance, Kenneth Ofori-Atta, to repatriate all funds accrued from the oil revenue into the Petroleum Holding Fund (PHF). According to the Minority, government is acting contrary to the Petroleum Revenue Management Act (PRMA) as r
The Public Interest and Accountability Committee (PIAC), the statutory body with oversight responsibility over the prudent management and use of petroleum revenues has engaged Queen Mothers in the Savannah Region to provide updates on how government has used petroleum revenues since 2011. The forum,
The Public Interest and Accountability Committee (PIAC), the statutory body with oversight responsibility of the management and use of petroleum revenues, took part in the annual heads of churches conference of the Ghana Pentecostal and Charismatic Council (GPCC), on Wednesday, 29th June, 2022 at th
Former Member of Parliament for Bantama Constituency Daniel Okyem Aboagye has proposed for the establishment of Public Interest Accountability Committee (PIAC) to oversee and promote transparency and monitor proceeds of the Electronic Transfer Levy Bill, popularly known as e-levy, if it is passed. H
The Public Interest and Accountability Committee (PIAC) has published a report titled “Assessment of the Management and Use of Ghana’s Petroleum Revenues (2011-2020)”. The report assesses Ghana’s management and use of petroleum revenue over the past ten years (2011-2020) in line with the requirement
The Public Interest and Accountability Committee (PIAC) has said that an amount of GH¢129.26 million, representing five (5) percent of the budgeted Annual Budget Funding Amount (ABFA), was allocated to the District Assembly Common Fund (DACF). This according to PIAC follows the decision of the Supre
Membership of the Public Interest and Accountability Committee (PIAC); the statutory body with oversight responsibility of the management and use of the country’s petroleum revenues, has been reconstituted following the expiration of the tenure of some Members. New Members were sworn-in together wit
Natural resources, when exploited and managed well, remain a great source of wealth for nations. After a rather poor history of the management and use of the revenue of other natural resources in Ghana over the years, there was a resolve to do things differently with petroleum. Although crude oil pr
The Ministry of Finance (MoF) reported that it utilised an amount of GHC827.60 million of the unspent Annual Budget Funding Amount (ABFA) to partially meet the shortfall in ABFA receipts caused by the impact of the COVID-19 pandemic and its associated effects on crude oil prices globally, the 2020 a
For the time first time in several years the Ministry of Finance has in a record time, released its data on petroleum revenue to the Public Interest and Accountability Committee (PIAC) to enable the body compile its 2020 annual report. PIAC had earlier indicated in its semiannual report for 2020 tha
The Government of Ghana is working with the Public Interest and Accountability Committee (PIAC) over reported cases of unaccounted for oil revenue as captured in PIAC’s reports, Finance Minister-designate, Ken Ofori-Atta has said. He said this during his vetting by the Appointments Committee of Parl
President Nana Addo Dankwa Akufo-Addo has appealed to the Public Interest and Accountability Committee (PIAC), in its publications, to help provide the general public with a better understanding of how petroleum resources are managed, and clarify swiftly its position on matters should it be misconst
The Ministry of Finance has, for the fourth time, failed to release data on the Annual Budget Funding Amount (ABFA) to the Public Interest and Accountability Committee (PIAC) to enable the body add their data in the compilation of its reports on petroleum revenue utilization. The ABFA is the statuto
