Dr Mustapha Abdul-Hamid, the Chief Executive Officer (CEO) of the National Petroleum Authority (NPA), has informed the Public Accounts Committee (PAC) of Parliament that the Tema Oil Refinery (TOR) owes the Authority GH¢4.6 million.
The CEO made the exposure on Friday at the PAC's sitting in Accra, when he went ahead to answer issues brought up in the 2019 Auditor-General's Report concerning the NPA.
As per the report, the reviewers couldn't affirm the presence and fulfillment of the record receivable equilibriums and that for example, outsider affirmation got from TOR demonstrated that its equilibrium was GH¢6,884,099.23 receivable from NPA, notwithstanding, NPA introduced an equilibrium of GH¢4,648,450.75 receivables from TOR.
It noticed that there was a hostile contrast between the remarkable equilibriums in the books of NPA and TOR as was checked from the equilibriums the two elements posted starting around 31 December 2017.
It said receivables Balances were material to the budget summaries thus can influence the monetary choices of clients assumed the premise of the fiscal reports.
The Report asked the Authority to guarantee that appropriate compromises were made among NPA and TOR and different substances making up the receivables, and affirmation of such equilibriums quickly made accessible to the Auditors.
Dr Abdul-Hamid expressed: "All things considered, we expected to balance what Government owed them with what they owe us however our reaction according to this letter that we have kept in touch with the Public Accounts Committee, our solution to that will be that we are not the ones liable for paying under recuperations."
"Installment of under recuperations is the obligation of the Ministry of Finance, thus, it is basically impossible that they can request that we offset what Government owes them with what they owe us.
"Taking everything into account our books between 2014 to 2017 demonstrate that they owed us GH¢4,648,450.75," he added.
He repeated that TOR had accordingly affirmed that they owed the Authority GH¢4,648,450.75.
Dr Abdul-Hamid cleared up for the Committee that the GH¢6,884,099.23, which TOR initialed guaranteed had owed them by the Authority, was what the Government owed the Refinery.
Dr James Klutse Avedzi, the Chairman of PAC said the data given by the NPA CEO was not accessible to the Auditors at the hour of the review.
The Auditors affirmed the new improvement to the PAC, expressing that with the compromise done by TOR and NPA, the obligation was presently GH¢4,648,450.75.
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