27th October 2022 1:46:52 PM
1 min readThe Ghana National Petroleum Corporation (GNPC) has responded to a joint report from IMANI Ghana and ACEP indicating that their decisions will have an adverse effect on Ghana’s battered economy.
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The GNPC says it has always been transparent in its dealings and is shocked that civil society organizations will go to the press without first recourse to them for explanations of their dealings as an organization.
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“While in general, civil society organizations promote development through nurturing discourse, it is appalling that ACEP and Imani perennially spew negative and unsubstantiated comments throughout the media, especially when they have not directly approached GNPC for its opinion.”
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A Statement from their outfit explained that “Regarding ACEP and Imani’s inaccurate claim of “Programmed Losses for 2022”, it is important to note that the two organizations make basic errors, in their inability to distinguish between Deficit Financing and Profit/Loss.
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What GNPC presents to parliament in its annual Work Program is what the Corporation intends to spend on its activities and the sources of funding for such projects, and the means of financing the forecasted deficit, if any. The figures quoted by ACEP and Imani to represent programmed losses are in fact budget deficits, for which the sources of finance are clearly stated in the Work Program”.
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Source: Ghanaweb
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