The Chairman of the Civil Society Platform on Oil and Gas, Dr. Steve Manteaw has said the call for the usage of the stabilization fund because of the fall in prices of crude oil is not necessary.
[contextly_sidebar id=”TtEIVyGIbPks3Nx7osMJ3xGgaixm3iAB”]Though he conceded that “crude oil prices have indeed fallen and that we are not going to get what we expect to get from our oil production,” he believes that, “Ghana could be gaining instead.”
His comments follow a call by the Public Interest and Accountability Committee (PIAC) that government could go ahead and use funds accrued from the stabilization, taking into consideration the fall in crude oil prices.
According to PIAC, the usage of the satbilization fund at this time is what the law permits.
But Dr Steve Manteaw speaking on Eyewitness News, insisted that such a call “may not be necessary” because the Minister of Finance and the government are aware of the law which directs for the usage of the fund at this time.
“Government also made provision for oil impulse.”
“…Already the minister for finance has indicated that he is under direction to review the figures and go back to Parliament and if there is the need to go into the stabilization fund I’m sure they will go into it,” he added.
–
By: Godwin Allotey Akweiteh/citifmonline.com/Ghana