Business News of Sunday, 22 October 2023

Source: www.ghanaweb.com

Parliament must be stringent on its oversight role - Dr. Atuahene

Dr Richard Atuahene is a Banking and Financial Consultant play videoDr Richard Atuahene is a Banking and Financial Consultant

Banking and Financial Consultant, Dr. Richard Atuahene, has called on parliament to ask pertinent questions when it comes to ensuring accountability from leaders in the country.

Dr Atuahene expressed worry that as a result of an authority's affiliation to a wing in parliament, relevant questions with regard to certain financial and economic decisions are often ignored.

Speaking on GhanaWeb TV's BizTech with Mawuli Ahorlumegah, the renowned banking consultant said, "The problem we have in this country now is that we're not asking relevant questions that will address issues."

"So for instance, you can score him [Finance Minister] but nobody will even ask about the law. The biggest problem I have is the parliamentary role in its oversight...I'm beginning to get worried. That is why, in one of my recent deliberations, I shared that the Constitution has to be amended so that a debt cap is in enshrined so that you don't just get up and borrow and borrow and borrow. Because the way it is, when it is good for these people, they will simply use a voice vote to pass anything in the House."

He continued, "But if it is entrenched in the Constitution, the Bank of Ghana cannot sit down and say that I am giving far more exceedingly above to government. That one somebody can impeach you, but unfortunately, the relevant questions are not asked. "

He made the remarks in relation to the government being financed by the Central Bank without the requisite parliamentary approval on the part of the BoG Governor and the Finance Minister.

Dr Atuahene further called for the amendment of the 1992 constitution, which will see to it that authorities are held liable and accountable.

"There's one thing bringing the person and asking relevant questions. The man can come there, but you may not ask relevant questions. If the man is crafty and cunning, he'd be able to get out of it. But if you should ask him; you summon him and tell him that we're almost 5% what is your strategy, how are you going to do it, give us a breakdown of it, tell us how we're going to address and how long are we're going to do this and tell us the limit you're going to do".

"At least the finance minister would have gone down and done his calculations very well. But when he comes and it looks like you're looking at the personality, you're not looking at the issues, you'd be asking irrelevant questions and the problem we have in this country now is that we're not asking relevant questions that will address issues".

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