Law in offing to fight MDAs' malfeasance

The Government intends sending a public finance management bill to parliament, as part of measures towards curbing malfeasance in public institutions, Finance Minister Seth Terkper has told the Public Accounts Committee (PAC) of the legislature.

"…The Auditor General’s report, amongst others, has provided ample recommendations on how to resolve some of these and these have been taken on board in drafting a more comprehensive public finance management bill, so, we are taking a very deep reform structural approach to public financial management.

"I'm mentioning this, as I stated from the beginning, just so it doesn’t seem from the reports, which are based mainly on transactional approach to auditing that nothing is being done.

"I want to assure all Ghanaians that just as we did with the tax laws that parliament passed, four or five substantive tax laws, a PFM bill come to the House for consideration and we believe that this will improve the work of the finance and publics accounts committees of the house," Mr Terkper said when he appeared before the Committee on Monday for hearing on the 2013/2014 Auditor General’s report.

The 8-day public hearing will probe various financial malfeasance totalling GHS500 million by various Ministries, Departments and Agencies.