Breaking News

MAXIMIZING THE BENEFITS OF MINERAL RESOURCES

MAXIMIZING THE BENEFITS OF MINERAL RESOURCES

The Africa Centre For Energy Policy(ACEP) had a discussion with the stakeholders on disbursement of our revenue that Ghana achieve from mineral sector.

Omytv.net had an interview with Mr. Benjamin Boakye Executive Director of (ACEP) and he said, "We are encouraging Government to account for revenue that we achieve from mineral sector. Over the years,we admired without any framework to governing the utilization of mineral revenue, it always goes to the consolidated fund and they spend it from there. So in this current situation where the Chuck of our money goes into salaries, which means that, all that we doing with our mineral resource is just paying salaries. But that is not a good governance arrangements."

Again, we need to able to invest the money, so that when the resources run out we will still have other sectors contributing to the development of the economy. We have done consultations over the years on specific area that people think we should invest our mineral resources, and the governance arrangement around it."

According to him, we all see the biggest problem we have on our Education, Agriculture and Health as well as our Roads and Railways.

We have drafted a proposal which we wanted to present to the stakeholders on the structure for the governance of mineral resources. And also to solicit for further input and how should be done. We are proposing that, even beyond the national level governance system,at the district level where the revenue been sent to, they should also account for the project they been doing. They should tell us the specific project they are engaging in so that people can track and feel the benefit of mining."




Mr. Benjamin Boakye concluded that, we should be looking up to natural resources for recurrent expenditure. But we should be looking at raising domestic revenue taxes everybody contributes his or her dues to governance. Even that also requires transparency, because if I am paying my taxes. I have to know how you are using the tax for. If able to improve that governance arrangement, it will encourage more people to pay their taxes."

Source: www.OmyTv.net | Kofi Dwumah

No comments