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Oil companies owes govt $ 2.1 million in Surface Rental payments
June 1, 2021
Surface Rental payments to the government by companies in the petroleum sector in 2020 remain in arrears to the tune of $2.1 million, the Public Interest and Accountability Committee (PIAC) 2020 Annual Report, has said.
The PIAC Report said the 2020 arrears represent a 34.71 per cent increase over the 2019 arrears of $1.57 million.
The report indicated that the non-payment of the surface rentals denied the Petroleum Holding Fund of the needed revenues for development projects.
Against this backdrop, the PIAC recommended that the Ghana Revenue Authority, should, as a matter of urgency, initiate action to recover surface rental arrears with the appropriate interest as recommended by the Petroleum Revenue Management Act.
Ghana-Press-Review June 01, 2021 to 10:43 105 APA – Accra (Ghana) The report that the Bank of Ghana has slashed its benchmark rate, the policy rate by 100 basis points, signalling a return to monetary easing after a year of tightening and the assurance by the European Union not to place a ban on the purchase of cocoa from Ghana because of child labour claims are some of the leading stories in the Ghanaian press on Tuesday.
The Graphic reports that the Bank of Ghana (BoG) has slashed its benchmark rate, the policy rate by 100 basis points (bps), signalling a return to monetary easing after a year of tightening.