Ato Forson Proposes Value for Money Framework to Strengthen Fiscal Discipline and Accountability

The Member of Parliament for Adjumako Eyan Essiam and Minister for Finance, Hon. Cassiel Ato Forson, has announced plans to introduce a Value for Money Framework aimed at enhancing transparency and accountability in public spending.

Speaking on the floor of Parliament, Hon. Ato Forson stated that the proposed bill seeks to ensure that every cedi earned by the government delivers the maximum possible benefit to citizens in terms of economy, efficiency, effectiveness, equity, and sustainability.

He explained that the bill will establish an independent Value for Money Office with a specialized technical mandate to conduct value-for-money assessments. The office will be responsible for issuing Value for Money certificates before major government contracts are awarded, monitoring compliance, and enforcing sanctions where violations occur.

According to the Minister, the overarching objective of the bill is to promote fiscal discipline, reduce waste, strengthen public confidence, and enhance the country’s governance and accountability framework.

Hon. Ato Forson further noted that the legislation aims to institutionalize value-for-money oversight and transform Ghana’s public financial management system by reducing contract inflation, curbing wasteful expenditure, and ensuring uniform pricing across government institutions.

Report by PKB