Petroleum Bill set to be passed Tuesday

Dec, 2010
Story: Emmanuel Adu-Gyamerah
THE Petroleum Revenue Management Bill, which is at its consideration stage of passage, is expected to be passed by Tuesday before Parliament breaks for the Christmas festivities on Wednesday, December, 22, 2010.
But the House has to cross the hurdle of dealing with about 200 amendments before the passage of the bill will see the light of the day.
Originally, the House was expected to rise on Tuesday, December, 21, but when the Majority Leader, Mr Cletus Apul Avoka presented the Business Statement (programme) for next week, he informed the House that the Business Committee had decided to push the date forward because of the volume of work the House had to consider before rising.
Some of the amendments, which had been tagged as controversial are expected to delay the passage of the bill since both sides of the House are expected to adopt entrenched positions.
They include clause 17, which deals with the Petroleum Development Fund.
The Minority is seeking to amend that clause to ensure that revenue accrued from the sales of the oil was not put into the Consolidated Fund but kept separately for specific projects.
The Minority Leader, Mr Osei Kyei Mensah-Bonsu is also seeking to amend Clause 19 of the bill to ensure that “in presenting the normal budget, which should be funded from the traditional revenue sources, the Minister responsible for Finance shall annually present to Parliament for approval,a programme of investment activities to be funded from the Petroleum Development Fund”.
What will also be crucial is the amendment proposed by four NPP MPs seeking for 10 per cent of the petroleum revenue to be set aside for the development of the Western Region.
The MPs, Mr Kwabena Okyere Darko-Mensah,Takoradi, Mr Dominic Nitiwil, Bimbilla, Mrs Gifty Kusi, Tarkwa-Nsuaem and Dr Matthew Opoku-Prempeh, Manhyia are seeking to include the contents of the petition presented to Parliament by the Western Regional House of Chiefs into the bill.
Other bills expected to be passed by the House before rising include the Customs and Excise (Duties and other taxes) (Amendment) Bill, 2010, the Debt Recovery (Tema Oil Refinery Company) Fund (Amendment) Bill, 2010, the Internal Revenue (Amendment) Bill, 2010, the National Fiscal Stabilisation Levy (Amendment) Bill, 2010, the Value Added Tax (Amendment) Bill, 2010 and the Airport Tax (Amendment) Bill, 2010.