Politics

Gov’t diverting oil cash into campaign project – Minority

The Minority members in Parliament have accused government of diverting revenue generated from oil into the implementation of campaign promises.

According to the Minority, the move is a breach of the Petroleum Revenue Act, adding that the diversion is crippling other sectors of the economy.

Ato Forson, Minority spokesperson on Finance, who made the claims, noted that government is not only breaching the Petroleum Revenue Act but the Ghana Infrastructure and Investment Fund Act as well by diverting the funds into other activities.

“Someone is tactically breaching the Petroleum Revenue Management Act,” he said.

The Petroleum Revenue Management Act (815) which was passed in 2011 regulates the collection, allocation and management of oil revenues by the government.

The Act says in part “For any financial year, a minimum of seventy percent of the Annual Budget Funding Amount shall be used for public investment expenditures consistent with the long-term national development plan.”

He indicated that instead of going according to the law, government is spending a huge chunk of the money into physical structures.

He noted that Ghanaians should be interested in the matter and added that the practice should not be encouraged.

He said that certain campaign promises such as the Free Senior High School policy is also being funded by the fund.

Inusah Fuseini, MP for Tamale Central has threatened to file a motion on the floor of Parliament to compel the Minister of Finance to summoned to explain how the country’s revenue is being used.

According to him, members of the Public Interest and Accountability Committee (PIAC) must be interested in how the petroleum revenue is being used.

“PIAC must not only be interested in going round and looking at the physical infrastructure which has been delivered through the utilization of the petroleum revenue,” he said.

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