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Civil Society demands explanation from Finance Minister over oil money

Ghana l Joy News
24 May 2012 | Business & Finance
Dr Steve Manteaw
Dr Steve Manteaw

The Civil Society Platform on Oil and Gas has condemned threats by the Saltpond Offshore Oil Company to sue the Chairman of the Public Interest Accountability Committee over recent comments he made about the company's obligations to the state.

The company is threatening to sue the PIAC Chairman and the Ghanaian Times for suggesting it had failed to pay government's share of the revenue accruing from oil production in the Saltpond Field into the Petroleum Holding Fund, as required by law.

Addressing a news conference this morning, the civil society group dismissed the threat as an attempt to cow the oil revenue watchdog from playing its role effectively.

Chairman of the Civil Society Platform on Oil and Gas, Steve Manteaw told Joy News' Sammy Darko the organization was “also demanding explanation from the Ministry of Finance, particularly the minister, on why he condoned the practice of paying monies relative to the operations of the Saltpond Fields into the non-tax revenue accounts when he was aware of the new statutory arrangements for receiving such payments.”

Dr Manteaw said all monies paid into the Finance Ministry's non-tax revenue accounts should be moved into the petroleum holding fund and properly accounted for.

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