An economist and Chief Executive Officer of Edutainment House a non profit organization, Mr Isaac Yaw Opoku has welcomed the successful passage of the Petroleum Revenue Management (Amendment) Bill into Law.
According to him new law would go a long way to ensure consistency in the flow of revenue from the petroleum sector for economic and national development.
Parliament on 8th of July passed the Bill, into law after its Third Reading.
Mr. Opoku who was speaking to some members of the Parliamentary Press Corps soon after passage of the Bill in Parliament said the current Bill which is currently awaiting presidential assent would positively position the Ghana National Petroleum Company (GNPC) to become a commercial entity and a strong operator in the oil and gas sector.
Mr. Yaw Opoku who is also a lecturer at the Jayee University College in Accra commended government for listening to the concerns of stakeholders and correcting the inconsistencies and operational challenges associated with the previous law.
He was hopeful that the new law would provide for the efficient collection, allocation and management of petroleum revenue in a responsible, transparent, accountable and sustainable manner for the benefit of Ghanaians.
He also stressed the need for independent fiscal policy councils to improve the fiscal performance of the country?s financial management system.
Source: Gilbert Ankrah || ISD