Energy sector for audit, cocoa sector to see more attention

Government has announced it will undertake an audit of the country’s entire energy sector to reduce shortfalls and increase efficiency, while continuing with measures to increase the fortunes of the cocoa sector.

The said energy sector review promises among others, increased transparency in the tariff-setting arrangement being implemented by the Public Utilities Regulatory Commission (PURC) and improved implementation of the cash waterfall mechanism.

Minister for Finance, Dr Mohammed Amin Adam made the disclosure at a joint International Monetary Fund (IMF), Ministry of Finance, Bank of Ghana (BoG) press conference on the second review of Ghana’s Extended Credit Facility (ECF) programme with the Bretton Woods institution in Accra over the weekend.

The Minister revealed that the planned reforms were the result of government’s discussions with the IMF mission in the country which deliberations had formed part of the second review mission.

On the cocoa sector, the Minister said government will continue to pay attention to cost-cutting measures being implemented by COCOBOD as well as rationalise the cocoa roads and make more resources available to complete the uncompleted roads. IMF Mission Chief Stephane Roudet welcomed the assurances made by Dr Amin and stressed the importance of ensuring the energy sector is financially anchored to support Ghana’s economy as well as safeguarding the cocoa sector’s resilience and growth