The Attorney General’s (AG) office has opined that the Agyapa Royalties Agreement is skewed against the interest of Ghana.
The Attorney General’s office explained that the benefits Ghana is expected to derive from the agreement are limited, given the strict obligations and sanctions attached to the deal.
This comes after Finance Minister, Ken Ofori-Atta, described the agreement as an opportunity for the government to use innovative ways to manage and maximise the country’s mineral wealth.
According to him, the current arrangement where the value multinational companies in Ghana’s extractive industry are assessed by basic indicators such as taxes rather “ignores many of the different ways in which the countries that extract the resources utilise their rights beyond and outside of our borders as a means of creating value.”
However, the office in a document of recommendations on the agreement noted: “ It appears to be cast in stone with no option to evaluate their effectiveness or satisfactory performance so as to review or terminate the same if the need arises.”
The controversial agreement has been met with fierce resistance from the Minority in Parliament that boycotted its approval in Parliament.
Some 15 Civil Society Organisations have also called for the suspension of the agreement.
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