The African Parliamentarians Network against Corruption (APNAC) has raised concerns about the Petroleum Revenue Management Act.
According to the group, the law in its current form has the tendency of fuelling the future siphoning of oil revenue from the country.
The Act passed in 2011, provides a legal framework for the collection, allocation and management of petroleum revenue in a responsible, transparent, accountable and sustainable manner for the benefit of all Ghanaians.
However several oil and gas experts believe the law when left will do greater harm than good to the country’s scarce resources.
Addressing the press in Accra, the Chairman of the anti corruption body who also doubles as the Minority Leader, Osei Kyei Mensah Bonsu said the ambiguity surrounding the current act will lead to the wanton dissipation of state funds in future.
Meanwhile the Vice Chairman of APNAC, Emmanuel Bandua who is also the Member of Parliament for Biakoye, proposed a couple of amendments to the existing act to ensure the judicious use of oil revenue in the country.
