The proposed Worth for Cash Workplace Act wouldn’t be restricted to scrutinizing single-source procurement preparations, however would function a broader high quality assurance mechanism to make sure effectivity and accountability in public spending, the Treasury Division stated.
Frédéric Amissah, Technical Adviser on the Ministry of Finance, defined that the brand new system is designed to make sure that each cedi spent by the nation offers equal worth for items and companies.
stated in an interview with Pleasure FM Information Night time Mr. Amissah stated on Monday, Could 11, that considerations about inefficiencies in public procurement, significantly underneath single-source preparations, inform the necessity for stronger oversight mechanisms. However he emphasised that the brand new workplace goes past that.
He famous that underneath the proposed framework, “all public contracts that meet sure monetary standards (estimated at $10 million) will likely be required to acquire a value-for-money certificates earlier than approval,” including that “it’s not targeted solely on single-source procurement.”
As well as, all single-source procurement objects will likely be required to endure the identical certification course of previous to contract signing.
He stated the initiative is a part of broader public monetary administration reforms aimed toward bettering self-discipline in procurement processes and making certain authorities spending delivers optimum outcomes.
“That is to make sure that each cedi we spend represents the true worth of products and companies,” he defined, including that the scheme goals to forestall conditions the place excessive public spending doesn’t result in high quality infrastructure and companies.
Mr. Amissah additional indicated that the Public Procurement Authority (PPA) will proceed to carry out its regulatory function, together with assessing compliance with procurement guidelines. He stated the Worth for Cash Workplace would complement this by assessing whether or not proposed contract costs mirrored the absolute best worth.
He additionally disclosed that the reforms will likely be built-in into the Ghana e-procurement system to extend transparency and cut back scope for procedural irregularities.
He stated the reforms weren’t particular person measures however a part of a broader effort to strengthen Ghana’s public monetary administration constructions and guarantee accountability in the usage of public funds.
President John Dramani Mahama earlier agreed to the Worth for Cash Invoice, a significant step within the authorities’s efforts to rein in bloated public sector contracts and strengthen accountability in public spending.
Asserting the developments after the invoice was signed into regulation on Monday, Could 11, Minister of Finance Dr. Cassiel Ato Forson stated the transfer was an necessary milestone in efforts to curb the expansion in public spending related to extreme authorities contracts.
