Business News of Tuesday, 12 December 2023
Source: www.ghanaweb.com
Allocate adequate funding to GGSA for proper mapping of mineral resources – IEA to government
Dr. John Kwakye, Director of Research at the IEA
Director of Research at the IEA, Dr John Kwakye, has implored government to sufficiently equip the Ghana Geological Survey Authority (GGSA) with resources to facilitate the mapping of the country’s mineral resources for effective utilization.
He argues that government must ensure that specific funds are allocated to the Authority when presenting its annual budgets to support GGSA’s mandate which is critical for the utilization of the country’s mineral resources.
Making his submission on Citi TV’s Point of View programme, the IEA Director added that the move would also prevent situations where foreign companies impose their terms and conditions on the country due to them offering similar services in the extractive sector.
“Our geological survey, why can’t we resource them on an annual basis? I expect that the budget will have a line item that says that the Geological Survey takes so much. Let’s resource them so that they can do the mapping of the mineral data for us so that we don’t have to rely on a foreign company coming in and saying because I brought in my own capital, you have to accept these terms,” Dr Kwakye is quoted to have said by citinewsroom.com.
He added, “So we can find the money. In fact, we can even use part of our oil money, the funds that we have created the stabilisation fund, the heritage fund. We can dip into it and use it.”
The GGSA serves as a government agency responsible for conducting geological surveys, mapping, and providing geoscientific information to both the public and private sectors.
MA/NOQ
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