The Public Interest and Accountability Committee (PIAC) is raising concerns over the financial viability of the Ghana National Petroleum Corporation (GNPC) should it be weaned off cash allocations from the Petroleum Holding Fund by 2026 per the Petroleum Revenue Management Act. PIAC asserts that GNPC is being “laboured” as the government and its agencies owe the corporation close to $1 billion.
Technical Manager at PIAC, Mark Agyemang, speaking on the topic ‘Highlights of PIAC Issue Paper II’ on Time with PIAC, indicated that these burdens on GNPC are causing financial “headaches” for the corporation.
Mark Agyemang is thus advocating for a review of P.N.D.C.L 64, the law establishing GNPC for the national oil company to be able to assert its financial independence.
