The cost of the project, which includes a storage facility and mechanised boreholes, is GH¢954,000, out of which GH¢581,000 was sourced from the annual budget funding amount (ABFA).

The PIAC said the project, which had been declared completed by the contractor, Mass Premium Limited (MPL), was below standard and, therefore, needed to be redone.

PIAC delegation

A member of PIAC, Alhaji Suleman Anderson, who led a delegation to inspect the project, told the Daily Graphic at a town hall meeting in Aburi last Wednesday that the market project was poorly executed, given the amount of money disbursed to the contractor.

Pokrom is a small community near Aburi on the Aburi-Nsawam link road.

“The work done cannot be described as a completed project, as indicated in the report, because it is below expectation and does not meet the standard of a good rural market for the people.

“There are cracks all over, even before it is handed over to the assembly; in fact it is unacceptable,” he added

Checks by this reporter indicated that the storage and shed facilities had deteriorated, while there was only one borehole, when the contracted was expected to construct a number of them.

The Chairman of PIAC, Prof. Kwame Adom-Frimpong, added that “there were lots of cracks in the walls and ventilation was poor. Our checks also showed that the sheds may flood when it rains”.

“We believe that it won’t be possible for traders to do business in this market. To the best of our knowledge, the structure cannot go for two years before it deteriorates totally.

“Even though the contractor has not handed over yet, he claims to have completed it, but the contractor says he is done and is about to hand over,” he said.

Expending oil revenue

The chairman stressed the need for a chunk of the country’s oil revenue to be used for more legacy projects.

He also said the ABFA should not be used to fill expenditure gaps in times of revenue shortfalls in the budget, since that was the purpose of the stabilisation fund (GSF) under Section 9(2) of the Petroleum Revenue Management Act (PRMA), Act 815.

“Even though the PRMA allows the Minister of Finance to place a cap on the GSF, the fund should be grown to serve its purpose of shoring up shortfalls in the budget.

“As detailed in the committee’s 2020 annual report, we reiterate the fact that the ABFA should not be spread thinly, in accordance with Section 21 (1-3) of the PRMA,” Prof. Adom-Frimpong added.

Significance

The Adontenman Kyidomhene and Ahwerasehene, Osaberima Prof. Opare Addo II, said the discovery of oil in commercial quantities was important to the growth of every economy.

He, however, said over-dependence on oil after discovery may spell doom for the economy if not managed well.

Osaberima Prof. Opare Addo, further advised the government to invest the oil revenue judiciously.