MOFEP on oil and gas road show
By Kofi Ahovi
The Ministry of Finance and Economic Planning (MOFEP) in collaboration with the Ministry of Energy is embarking on a road show to solicit views and suggestions on the Petroleum Revenue Management Bill from the general public.
Experts in the oil and gas sector are expected to make input into the draft bill to ensure a comprehensive document that would be used to manage the expected revenues from the oil find which would be extracted later this year.
The road show, which is being organized through out the country, started on February 23 and is expected to end on March 12, 2010.
A comprehensive revenue document would enable the government to address all the bottlenecks that are expected to be associated with the management of oil and gas revenue.
It would also ensure that funds accrued from the industry would contribute to sustainable development and poverty reduction.
The Petroleum Revenue Management Bill, which was drafted by the Ministries of Energy and Trade and Industry, is to ensure the prudent use of the expected revenue from the oil and gas sector.
The proposed bill was to ensure that the revenue generated from oil and gas was channeled into addressing the development challenges of the country.
The bill would be presented to Cabinet after the road show for approval and possible enactment into law by Parliament.
By Kofi Ahovi
The Ministry of Finance and Economic Planning (MOFEP) in collaboration with the Ministry of Energy is embarking on a road show to solicit views and suggestions on the Petroleum Revenue Management Bill from the general public.
Experts in the oil and gas sector are expected to make input into the draft bill to ensure a comprehensive document that would be used to manage the expected revenues from the oil find which would be extracted later this year.
The road show, which is being organized through out the country, started on February 23 and is expected to end on March 12, 2010.
A comprehensive revenue document would enable the government to address all the bottlenecks that are expected to be associated with the management of oil and gas revenue.
It would also ensure that funds accrued from the industry would contribute to sustainable development and poverty reduction.
The Petroleum Revenue Management Bill, which was drafted by the Ministries of Energy and Trade and Industry, is to ensure the prudent use of the expected revenue from the oil and gas sector.
The proposed bill was to ensure that the revenue generated from oil and gas was channeled into addressing the development challenges of the country.
The bill would be presented to Cabinet after the road show for approval and possible enactment into law by Parliament.
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