Mrs. Mona Quartey, Deputy Finance Minister has repeated the unwavering commitment of the government to ensure transparency in the spending of the oil and gas revenue to eradicate poverty and drive the growth of the economy.
Mrs. Mona Quartey pointed out to that it would do everything to make the extractive industry more helpful to the Ghanaian people.
In the gold mining town of Obuasi, Deputy Finance Minister said this in a speech that was read for her at a 2 day broadcasting workshop of the 2014 Ghana Extractive Industries Transparency Initiative (GHEITI) reports for the mining and oil/gas sectors of the economy.
Stakeholders including Municipal and District Chief Executives, civil society organizations, finance officers and chiefs, District Coordinating Directors were together at the workshop to discuss the recommendations and findings.
She emphasized the critical importance of the natural resource sector to the nation’s development agenda. She added that it has continued to remain the significant and most important sector of the economy of Ghana.
In 2014, she noted that mining for example contributed 8.0 % to the Gross National Product (GDP) and 34.7 % to the total merchandize export.
She added the contribution of the mining sector to government’s revenue during the period stood at 5.0 %.
Director, Policy and Planning, Ministry of Petroleum, Mr. J. B. Okai said the new petroleum law would ensure better regulation of petroleum upstream activities.
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