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01.09.2020 General News

AG Indicts GNPC Over Ghc700m Gov’t Debt

AG Indicts GNPC Over Ghc700m Gov’t Debt
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The Auditor Generals Department in its 2017 report on public boards has indicted management of Ghana National Petroleum Corporation for failing to recover an amount of GhC 778,565,761 from government and other state owned enterprises.

The amounts owed by the government of Ghana, Finance Ministry, Tema Oil Refinery, Ghana Gas have been outstanding since 2015.

Appearing at the Public Accounts Committee, Deputy CEO of GNPC Joseph Dadzie disclosed even though there are moves to recover the debts, the development has gravely affected the cash flow of the corporation.

“We don’t have a choice in the matter, we belong to to the state so if the state refuses to pay the amount there is really nothing we can do. We have some challenges with cashflow, especially in the era where crude oil prices plummet, it has hit us very hard as far cash flow issues are concerned.

“This amount have been outstanding since 2014, 2015 so I think it will be very helpful if we get assistance for the payment of these amounts.”

Meanwhile, they was heated exchanges at the Public Accounts Committee over GNPC allocations to Okyehene, EOCO, Rebecca foundation and others.

During today’s sitting Ningo Prampram MP Sam George asked why the board of GNPC had to directly approve over 5 million cedis to be paid to the above mentioned individuals and entities without routing it through the GNPC foundation.

Board secretary Matilda Ohene who was present struggled to answer resulting in a follow up from Chairman for the Committee James Klutse Avedzi.

The was, however, greeted with disdain from deputy ranking member for the committee Mohammed Hardi Tufeiru. The development brought the proceedings to an abrupt end.

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