The Ghana Trade Fair Company (GTFC) has spent an amount of GHc 769, 513.00 on remunerations and allowances in 2010 only, as against 482,934.00 in 2009 , a report from the Public Accounts Committee (PAC) of Parliament has revealed.
The PAC’s report is based on the Auditor General’s audited report for the years ended 31st December 2010 and 2011.
According to the PAC report which was signed by the Committee Chairman, Hon. Kweku Agyemang Manu (Dormaa Central MP), the total administrative expenditure of the GTFC increased from GH¢ 482,934.00 in year 20009 to GH¢ 769, 513.00 in year 2010.
From the report, the Auditor- General attributed the reason for the sharp rise to the 170% increase in the Board of Directors` remuneration and allowances from GH¢ 53, 031.00 in the year 2009 to GH¢ 143, 256.00 in the year 2010. The report also noted that the increase was as a result of an upward adjustment in sitting allowances of the Board of Directors.
Officials of the Company informed the Committee that there was the need to review the Boards allowances given what pertains in comparable organizations such as the Ghana Investment Promotion Centre (GIPC), Ghana Supply Company and Ghana Standards Authority, all of which are under the purview of the Ministry of Trade and Industry.
The Committee also expressed its dismay about the Board’s allowances because they were approved by the GTFC Board, contrary to the provisions of the Financial Administration Regulations which requires that such allowances be approved by the Ministry of Finance.
The Committee also stated that the GTFC also spent Gh¢ 308,535.00 on repairs and maintenance only in 2010 as against Gh¢124,724 in 2009.
When deliberating on the reasons for the steep increase, officials of the GTFC explained to the Committee that 95% of the facilities at the Trade Fair Centre were temporary structures that were put up for the First International Trade Fair in 1967. Thus, the GTFC in the year 2010 had to use its internally Generated Funds for the maintenance of the structures.
They also cited that most of the underground cables at the Centre were very old and had to be replaced at a greater cost from the open market,
The Committee noted that most of the facilities at the Trade Fair Centre were old and needed regular maintenance but it was also of the opinion that the GTFC could not use a greater share of its Internally Generated Fund on regular repairs and maintenance. The Committee ceased the opportunity to urge the Ministry of Trade and Industry to ensure that the facilities at the Centre were upgraded and in shape.
<<Print>>