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Business News of Tuesday, 9 October 2018


PIAC condemns misuse of government funds

Dr Steve Manteaw, Chairman of Public Interest and Accountability Committee (PIAC), has bemoaned the misappropriation of funds allocated by government for developmental projects.

Dr Manteaw said the misappropriation of state funds, non-existent projects, non-judicious use of funds were some issues that impede the development of Ghana.

He said in 2017, government allocated GH¢2.2 million to physical infrastructure in the education sector, but no single project was constructed.

He disclosed this at a public forum organised by PIAC in the Wa East District capital, Funsi in the Upper West Region recently.

The PIAC Chairman said the percentage of oil money allocated to support development projects from 2011 to 2017 could catapult ‘Ghana Beyond Aid’ but said several projects reported to have been executed did not exist while some funds had also been wrongly used.

He cited Nakori and Duri Dams in Upper West, as well as GH¢35,000,000 for Microfinance and Small Loans Centre (MASLOC).

Furthermore, he said funds were misused in the notorious bus rebranding that took up GH¢3,649,044.75, support for Creative Industry totaling GH¢2,000,000.00 and overrun cost in road constructions, construction of six-unit classroom block for GH¢14,909,744.00.

Others were power supply at Bagabaga College of Education for GH¢4,028,245.00 and the training of 5,000 people with disabilities in ICT for GH¢10,000,000.

Dr. Manteaw disclosed that in 2017, an amount of GH¢41,617,767.70 was allocated to roads, rail and other infrastructural development, GH¢49,070,181.20 spent in the agricultural sector and GH¢202,379,893.20 was also allocated to improve physical infrastructure and service delivery in education.

Also, GH¢8,660,362.75 went into health service delivery and physical infrastructure.

PIAC believes there must be properly defined guidelines in the selection of the priority areas, while few legacy projects should be identified and supported by the Annual Budgeting Funding Amount (ABFA).