The Institute of Economic Affairs (IEA) 2015 P-TRAC Index project has revealed that there is no transparency \u00a0in the awarding and signing of oil and gas contracts signed by government.<\/p>\n
This was contained in the IEA\u2019s 3rd transparency and accountability report regarding the management of Ghana’s oil and gas \u00a0resources.<\/p>\n
[contextly_sidebar id=”0iz6MHbipYHB6JdpvH0xWeflbO81wYuo”]A press statement issued by the IEA noted that the only improvement made in awarding of government contracts as far as transparency is concerned is \u201cthe establishment of the Petroleum Commission to regulate the sector and to advise the government on the award of contracts and licenses.\u201d<\/p>\n
It further noted that the research capacity of Parliament remains “weak.”<\/p>\n
The IEA therefore called for a more open and transparent process of awarding contracts and licenses and further urges government to adequately resource Parliament and the other oversight agencies to enable them to effectively discharge their duties under the Petroleum Revenue Management Act.<\/p>\n
This is not the first time concerns have been raised over the lack of transparency in the awarding of government contracts.<\/p>\n