Extractive Sector Revenue Management (GH0005)
Overview
At-a-Glance
Action Plan: Ghana Action Plan 2013-2014
Action Plan Cycle: 2013
Status:
Institutions
Lead Institution: Ministries of Energy.
Support Institution(s): Oil and Gas Coalition, ISODEC, IEA, IDEG
Policy Areas
Energy, Extractive Industries, Fiscal Openness, Legislation, Public Participation, Publication of Budget/Fiscal InformationIRM Review
IRM Report: Ghana 2013-2014 End of Term Report, Ghana Progress Report 2013-2014
Early Results: Did Not Change
Design i
Verifiable: Yes
Relevant to OGP Values: Yes
Ambition (see definition): High
Implementation i
Description
The Petroleum Revenues Management Law has provided for the establishment of Public Interest Accountability Committee (PIAC) with the primary responsibility of enforcing transparency in the management of oil revenues. PIAC is a predominantly civil society body that monitors the flow of oil revenues and expenditures. Established in 2011, PIAC, has already issued its first report for that year and enjoyed considerable independence and generous budgetary allocation.
Over the 2013 - 2014 period, the Ghana Government commits itself to maintain and strengthen the independence of PIAC by continuing the provision of adequate budgetary allocation and supporting relevant CSOs to conduct annual M&E exercises to assess the extent of PIAC independence. Government further commits to the full implementation of recommendations from annual M&E reports as it will maintain and strengthen PIAC’s independent operations.
Government should further strengthen the legal framework on other minerals such as Gold. Actions:
• Publish regulations on the Petroleum Management Act (Act 815).
• Pass the Mineral Development Fund Bill.
• Call at least four meetings of relevant CSOs, Ministries and Departments to formulate a
framework for monitoring and evaluation of PIAC independence
• Support publication and dissemination of M&E reports
• Support relevant agencies to formulate sustainability plans for annual M&E exercises and
reports.