The Public Interest and Accountability Committee (PIAC), has urged the Ghana Revenue Authority (GRA), to as a matter of urgency take steps to recover Surface Rental Arrears with the appropriate interest, as provided for in the Petroleum Revenue Management Act, PRMA.
This has become necessary as the Committee’s investigations revealed that surface rental payments remain in arrears to the tune of $2,110,212.23 in 2020.
Launching the 2020 Annual report in Accra, Chairman of PIAC, Prof. Kwame Adom- Frimpong said the situation is worrying as it denies the Petroleum Holding Fund the necessary resources to undertake developmental projects.
The report covers areas such as oil and gas production, gas utilisation, sources of petroleum revenues and key findings.
With regard to priority areas selected for the Annual Budget Funding Amount, PIAC recommended that the Ministry of Finance should ensure that the areas selected are approved by Parliament before implementation, as required Section 21(5) of the PRMA.
Prof. Adom-Frimpong called for a long term development plan for the country to fasten the pace of transformation.