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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.