The Petroleum Revenue Management Act (PRMA), 815, came into being to herald an intension of Ghana to deviate from the status quo in the African continent where a lack of resource revenue accounting and transparency continue to challenge development. One of the strong elements of Act 815 is the institutionalization of parallel reporting by the Bank of Ghana, the Ministry of Finance and the Public Interest and Accountability Committee (PIAC). Almost four years into oil production, the resolve of the institutions to comply with the Law is commendable.
However, ACEP also recognizes that this commitment to transparency has not been without challenges. One such challenge is the lack of adequate feedback mechanisms to enables stakeholder to seek clarification of rather technical reports. Feedback mechanisms are also relevant for reporting agencies to interface with the public to deepen the accountability process.
Therefore, the Africa Centre for Energy Policy (ACEP) in collaboration with IBIS Ghana is organizing a forum to bring together relevant stakeholders to discuss the reports of the Ministry of Finance, Bank of Ghana and PIAC.
Representatives from the Ministry of Finance, Bank of Ghana and PIAC will each deliver presentations on their reporting requirements under the PRMA and challenges they have identified during three years of implementing the Law, followed by discussion with relevant stakeholders.
The forum will be held at Mensvic Hotel, Accra, on the 21st of August 2014 at 9am.
Time: 9:00 am
Venue: Mensvic Hotel, Accra
Date: June 9, 2015 - June 21, 2015