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PAC AND Extractive indnstives: a case study of Ghana

PAC AND Extractive indnstives: a case study of Ghana. Hon. Benito Owusu -Bio Member PAC Ghana. Comparism between experiences from Ghana & Nigeria with References from the FF Reports.

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PAC AND Extractive indnstives: a case study of Ghana

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  1. PAC AND Extractive indnstives: a case study of Ghana Hon. Benito Owusu-Bio Member PAC Ghana

  2. Comparism between experiences from Ghana & Nigeria with References from the FF Reports • Report on management of petroleum revenues for the period of 1st January 2012 to 30th June 2012( Public and accountably Committee, PIA) • Nigeria extractive industries transparency initiative 2009 – 2011 oil and gas report.

  3. Legislation for monitoring oil and gas revenue for transparency and accountability

  4. RESOURCES FOR OVERSIGHT

  5. DISCLOSURE AND ACCOUNTING FOR REVENUES

  6. DISPUTES AS TO ROYALTY CALCULATIONS.

  7. OWNERSHIP AND CARRYING INTEREST

  8. ACCESS TO INFORMATION FROM ENTITIES IN THE OIL SECTOR

  9. AUDITING PROCESS OF OIL & GAS REVENUE

  10. CONCLUSION • There is the need for resources for oversight • Parliaments committee on Finance, Mines and Energy must be given technical advi9ce to ensure effective scrutiny of petroleum revenue allocation. • Parliament must decide on the Committee that will consider and lay the reports of the PIAC for debate and adoption.

  11. As a follow up, we should demand a report from government on how they address the findings of PIAC. • A long term national development plan as stipulated in the Petroleum Revenue Management Act (815) must be developed. This will reduce the discretionary powers of the Minister of Finance.

  12. The need for a dedicated revenue account. Instead of paying it into the Consolidated Account, there is the need to have a dedicated account into which Oil revenue could be paid for easy monitoring.

  13. THANK YOU

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