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27.08.2020 Business & Finance

PIAC Laments Over Delays In Completing Oil-Funded Projects

PIAC Laments Over Delays In Completing Oil-Funded Projects
LISTEN AUG 27, 2020

The Public Interest and Accountability Committee (PIAC) has expressed deep worry over the delays in the completion of projects funded with Ghana's petroleum revenue.

Technical Manager for PIAC, Mark Agyemang at a round table meeting on the Annual Budget Funding Amount (ABFA) expenditure on service delivery in the health sector expressed regret that although there are a number of ABFA-funded projects across the country, many have stalled.

He said the failure to complete started projects on time results in further unbudgeted expenditures.

He said should ABFA-funded projects continue to suffer the fate of delayed completion, Ghana will excessively spend its ABFA but will have no projects to show for it.

All over the country, we have thousands of ABFA-funded projects. If we continue to stretch our petroleum funds [like this], we will produce oil for 200 years but we can't pinpoint a single project that petroleum revenue has funded. Because there is no continuous flow of funds to projects, they get stalled for years and this affects project completion cost. It gets to a certain stage before you can continue and this increases project completion cost,” he said.

The government in 2019 said it had engaged the Ministries, Departments and Agencies on the way forward in ensuring that it improves the implementation of ABFA-funded projects.

“As part of measures being put in place to improve the implementation of ABFA funded projects, the Ministry in 2019, engaged the MDAs to provide the utilization and the cash plan of their ABFA allocations in 2019 budget. The list of projects compiled by the various MDAs to be funded from their ABFA allocation in the 2019 budget is therefore integrated into the MOF lists of projects for proper monitoring,” the Finance Ministry indicated on its website.”

PIAC has already made a call for selective implementation of projects to ensure effective monitoring and supervision to reduce the number of uncompleted projects and shoddy work.

---citinewsroom

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