For two consecutive years, the Finance Ministry has not been able to meet the requirement to transfer 5.0% of the Annual Budget Funding Amount (ABFA) to the District Assembly Common Fund (DACF), contrary to the decision of the Supreme Court of Ghana in the case of Kpodo and Another vs Attorney-General in 2019.
The 2022 Public Interest and Accountability Committee (PIAC) Annual Report which uncovered this is therefore urging the Finance Minister, Ken Ofori-Atta, to comply with the decision of the Supreme Court in the disbursement of funds to the DACF.
“In the disbursement of funds to the DACF, the Minister for Finance should comply with the decision of the Supreme Court of Ghana in the case of Kpodo and Another vs Attorney-General in 2019”.
Utilisation of Annual Budget Funding Amount
It also expressed concern about the little disbursement of the ABFA to the Industrialization Priority Area, saying the Industrialisation Priority Area received an amount of about ¢9.29 million, representing 0.20% of the total ABFA of ¢4.41 billion.
“The Industrialisation Priority Area received an amount of ¢9.29 million representing 0.20% of the total ABFA (¢4.41 billion).
"The disbursement which represents 4.29% of the amount budgeted (¢216.3 million) for the priority area for 2022 does not reflect giving priority to Industrialisation in the use of ABFA.”
The report also indicated that an amount of ¢643.61 million ($73.68 million) was transferred to the Ghana Infrastructure Investment Fund (GIIF) in 2022.
According to the Fund, the entire disbursement was used to support the Agenda 111 Project of the government.
This is the second year after 2021 that GIIF has received funds for the Agenda 111 Project. In 2021 an amount of ¢290.38 million (US$49.39 million) was allocated to the Fund.
Latest Stories
-
PenTrust CEO named ‘Best Pensions CEO’, company wins ‘Scheme Administrator Award’ at Ghana Accountancy & Finance Awards 2024
5 mins -
Alan Kyerematen’s ‘Brighter Future for Health Professionals’ in Ghana Revealed in Bono
15 mins -
NPP will ensure a safer cleaner and greener environment – Dr Kokofu
23 mins -
2024 Election: Police to deal with individuals who will cause trouble – IGP
24 mins -
Seychelles President’s visit rekindles historical and diplomatic ties with Ghana
30 mins -
Election 2024: EC destroys defective ballot papers for Ahafo and Volta regions
40 mins -
2024 Election: I am sad EC disqualified me, but I endorse CPP’s candidate – PNP’s Nabla
1 hour -
I want to build a modern, inclusive country anchored by systems and data – Bawumia to CSOs
1 hour -
Miss Health Ghana 2024: Kujori Esther Cachana crowned new Health Ambassador
1 hour -
Livestream: The manifesto debate on WASH and climate change
1 hour -
Alan Kyerematen saddened by NDC and NPP’s neglect of Krofrom Market in the Ashanti Region
1 hour -
CSIR Executive Director urges farmers to adopt technology for improved farming
2 hours -
Football Impact Africa’s Ghetto Love Initiative inspires change in Teshie
2 hours -
Peter Toobu calls for tighter border security over uncovered weapons at Tema Port
2 hours -
Gov’t has failed its commitment to IPPs – Ablakwa
2 hours