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BY: Emmanuel Bruce
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he Public Interest Accountability Committee (PIAC) has asked the Ministry of Finance to ensure that the priority areas selected for the Annual Budget Funding Amount (ABFA) disbursement are approved by Parliament before implementation, as required by Section 21 (5) of the Petroleum Revenue Management Act (PRMA) (Act 815).
The PRMA provides 12 areas where the ABFA could be disbursed, and out of these, the Ministry of Finance is expected to select four of them after every three years. The areas selected must, however, be presented to Parliament for approval before disbursement.
The priority areas for disbursement expired in 2019 and as such the ministry had to select new priority areas for 2020-2022.
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JAN 21, 2021
The Public Interest and Accountability Committee (PIAC) has elected Professor Kwame Adom-Frimpong as its new chairman.
Professor Adom-Frimpong, who represents the Institute of Chartered Accountants, Ghana (ICAG) on the Committee, was elected in a unanimous decision by the Committee, drawn from 13 nominating institutions.
A statement from PIAC said he would steer the affairs of PIAC as Chairman for one year, having taken over from Mr Noble Wadzah, whose membership tenure on the Committee expired at the end of last year.
Commenting on his election as Chairman of PIAC, Professor Adom-Frimpong expressed gratitude to all Committee Members for the confidence reposed in him and pledged his commitment to ensure that PIAC delivered effectively on its mandate.
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