Dr. Kwabena Donkor, a member of parliament for Pru East, has said that the Ghana National Petroleum Corporation (GNPC) is in risk of going bankrupt. He attributed this to the GNPC management’s choice to take on tasks outside of its mandate.
On Wednesday, November 2, in Parliament, Dr. Donkor made this statement in support of a proposal to adopt the Committee on Employment, Social Welfare, and State Enterprises’ report on the GNPC’s yearly financial performance for the years 2019 to 2020.
“GNPC is on the brink of bankruptcy,” he said. “Mr Speaker, in supporting the motion, I will want to call the attention of this House for the need to bring GNPC, even if it is a committee of a whole, to bring GNPC before those house for amore critical scrutiny,” he stressed.
“Therefore,
The Petroleum Revenue Management Act of 2011 authorizes Parliament to distribute GNPC’s shares of revenue as its primary source of income (Act 815). In the years 2021 and 2020, respectively, gas sales made up 69% and 72% of total revenues.
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