Government’s performance with respect to transparency in the oil and gas sector has been average.

That’s according to the first report of the Petroleum, Transparency and Accountability Index compiled by the Institute of Economic Affairs.

Government scored 57 percent in the P-TRACK index which is to promote transparency and accountability in the management of the resources so policy makers will be more responsible.

At an event to discuss the findings of the report, Senior Economist at the IEA, Professor John Asafo-Adjei noted though some progress has been made in enhancing transparency, a number of areas need improvement.

He said while the Finance Minister had met his constitutional duty by publishing information related to oil resources in the budget, “Best practices require that more frequent reports be put out.”

“To promote transparency, we noted there are some important bills that need to be passed. One of them is the Right to Information Bill, also the Petroleum Exploration and Production Bill, the Marine Pollution Bill will all help to improve the functioning of the oil sector,” he said.

The Energy Ministry says it is studying the report and will respond later.

Source: Joy Online

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