The President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo, has stated that the government’s cooperation with the Public Interest and Accountability Committee (PIAC) has a significant development in the country’s petroleum sector.

He said the government is committed to extending its support to PIAC to ensure that petroleum revenues are used judiciously.

He said this while speaking at the Launch of the 10th Anniversary of the Public Interest and Accountability Committee (PIAC) in Accra.

“Let me reiterate the fact that the government is fully committed to supporting PIAC and will help ensure that petroleum revenues are well managed for the benefit of all Ghanaians. The government since 2017 has ensured that unlike in the past, the budgetary allocations of PIAC have been released to enable it to undertakes its activity,” he said.

He also said despite the challenges the pandemic posed to the country’s economy and the petroleum sector, the government was able to allocate over 2 million for the operations of PIAC and it is set to be released soon.

“In 2020 for example, an amount of 3 million one hundred thousand cedis was given to PIAC with 2 million 3 hundred and fifty thousand cedis set to be released for this year in spite of the pandemic, as long as I remain president support to PIAC will be forthcoming and on time,” he added.

The president also urged PIAC and the Ministry of Finance to rekindle their quarterly meetings to ensure that issues of mutual interest and concerns are addressed through dialogue and ensure to make publications that will help the public understand how revenue losses are managed.

“I appeal to PIAC in its publications to help provide the general public with a better understanding of how petroleum revenue losses are managed and clarify swiftly its positions on matters should it be misconstrued within the media space,” he stated.

However, The Public Interest and Accountability Committee (PIAC) is an independent statutory body mandated to promote transparency and accountability in the management of petroleum revenues in Ghana.