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13 October 2016

PAC chides Finance Ministry over mishandling of donor funds

kweku-agyemangThe Public Accounts Committee of Parliament (PAC), has chided the Ministry of Finance over its handling of funds from Ghana’s international development partners.

According to the report of the committee, about 53% of donor inflows between 2010 and 2012, were not acknowledged per the framework memorandum signed between the government of Ghana and is development partners.

Speaking on the Floor of the House, Chairman of the committee, Kwaku Agyeman Manu, called for an attitudinal shift else the country risked losing further support from her international development partners.

He explained that, “since donor funds are tied to the achievements of targets agreed upon with DPs [Donor Partners], there is the need for government to ensure that efforts are geared towards meeting these targets.”

But due to lack of regular reconciliation among the Ministry of Finance, the Bank of Ghana and the Controller and Accountant General’s Department, there were instances of over statement and understatement of revenue, and non-capturing of some transcripts in the public accounts for the year 2012, Mr. Agyeman Manu stated as some of the shortcomings.

He also noted that, “the inability of MDAs to meet some targets agreed upon with DPs within the period under review, affected expected inflows from the donor partners.”

Mr. Agyeman Manu therefore said the Public Accounts Committee (PAC), recommended that MDAs “put in place a mechanism for reporting variances between pledges and actual disbursements by DPs.”

He also urged the Ministry of Finance to ensure that funds are released to MDAs to avoid delayed disbursements from DPs.

Source: citifmonline.com

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