Ghana Parliament Approves Petroleum Revenue Management Bill

abarrelfullabarrelfull wrote on 03 Mar 2011 09:54
Tags: ghana

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Parliament yesterday passed the controversial Petroleum Revenue Management Bill.

The bill, passed after its third reading, was dragged for months by members of Parliament.

Before its passage, a former Attorney General and Justice Minister and member for Esikadu/Ketan, Mr. Joe Ghartey of the Kufuor Administration, called for its return to the Attorney General's Department for it to be re-looked to correct all inconsistencies but his move was rejected by the Majority.

The bill when given Presidential Assent to become law, will guide the management of Ghana’s oil production. Production of the oil began in December 2010.

The Minority arguing on Article 108 of the 1992 Constitution and clause 23 of the bill, called on Parliament to approve a 10 per cent of the oil revenue to the Western Region Development Fund.

The issue generated arguments between the two sides of the House and Mr. Doe Adjaho, the First Deputy Speaker, ruled that the Minority’s position was unconstitutional as well as does not follow Standing Order 122 of the House.

Mr. Adjaho said the 10 per cent is a charge on the Consolidated Fund, which is against the said Article.

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