New Value for Money law to tackle inflated contract costs – Ato Forson

Minister for Finance, Dr Cassiel Ato Forson, says the newly enacted Value for Money law will help reduce inflated public sector contract costs and strengthen accountability in government expenditure.

According to the Finance Minister, the legislation, recently signed into law by President John Dramani Mahama, is expected to enhance scrutiny of public procurement processes and ensure better value for money in state spending.

Dr Forson explained that the law establishes a dedicated Value for Money Office, which will be responsible for assessing government projects and evaluating whether proposed contracts offer reasonable value before they are approved and executed.

“Beginning January 2027, this office will be fully operational, and Ghanaians will begin to see the benefits of a Value for Money Office,” he stated.

He noted that the initiative forms part of broader fiscal reforms aimed at promoting transparency, curbing wasteful expenditure, and preventing excessive pricing in public contracts.

The Finance Minister expressed confidence that the new office would improve efficiency in public financial management and reinforce the government’s commitment to the prudent use of national resources.