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PIAC report shows GH¢129.26 million meant for DACF was not disbursed

FPSO  Kwame Nkrumah  Incident PIAC is Ghana's petroleum revenue watchdog

Wed, 6 Oct 2021 Source: www.ghanaweb.com

The Public Interest and Accountability Committee has revealed an amount of GH¢129.26 million, which was meant for the District Assembly Common Fund (DACF), was not disbursed, a 2021 Semi-Annual report has shown.

According to the petroleum revenue watchdog, the Supreme Court directed the amount which represents 5% of the budgeted Annual Budget Funding Amount (ABFA) be disbursed but has subsequently shown it has not.

“An amount of GH¢129.26 million, representing 5% of the budgeted ABFA, was allocated to the DACF, following the decision of the Supreme Court of Ghana in the case of Kpodo and Another versus Attorney-General. Notwithstanding the allocation, there was no disbursement to the DACF in the first half of the year.”

In addition, the PIAC report said it found government guilty of utilising an amount of GH¢40.17 million from the Treasury Main Account to shore-up the ABFA in the first quarter, instead of withdrawing the amount from the Ghana Stabilisation Fund (GSF).

The 2021 Semi-Annual report as part of its recommendations, called on the Minister of Finance to enhance the Ghana Stabilisation Fund into a well-anchored position in order to deliver its mandate of shoring up ABFA expenditure to cushion revenue shortfalls in government’s budget.

“It is the expectation of the committee that the public will find time to read the report and provide feedback during PIAC public engagements and also reach out to the Secretariat via its various contacts, including social media channels”, PIAC pointed.

Read the full report below:

Source: www.ghanaweb.com
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