A Policy Analyst and member of the Public Interest and Accountability Committee (PIAC) Dr. Steve Manteaw says failure of the Ministry of Finance to provide reports on the stages of execution of oil funded projects is partly a reason for their non-execution and non-completion.
According to Dr Manteaw, the petroleum act law requires that the finance minister indicates the stages of execution of projects in their reports at the end of each year.
He said though the sector minister presents reports to parliament each year, they have failed to include updates on projects for the past six  years which, he notes, is a reason for the non-existence of these projects.
Speaking with Ultimate News’ Central regional correspondent Kwaku Baah-Acheamfour in Cape Coast during a stakeholders interaction on oil revenue usage, Dr. Manteaw said in order to justify the allocation of the resources for projects, it is vital to take a look at previous allocations and ensure the projects are executed properly and completed.
He added that, revenue from oil funded projects have over the years been spent by government officials on other projects and called for abusers of these oil revenue to be prosecuted.
Dr. Manteaw also said for the impact of oil revenue to be felt, it is necessary to take a look at what the previous government did wrong to correct their mistakes.
The Public Interest and Accountability Committee (PIAC) is an independent statutory body mandated to promote transparency and accountability in the management of petroleum revenues in Ghana.