The Tema Oil Refinery(TOR) has ranked high as one of Ghana’s public sector institutions that is managing government resources effectively and efficiently in compliance with the Public Financial Management Act, 2016( Act 921), according to the Ministry of Finance.
Tema Oil Refinery(TOR) ranked 1st runner-up in the Public Financial Management Compliance League Table, a framework that measures how well public entities live up to the rules and procedures governing the use of public funds in compliance with the Public Financial Management Act, 2016( Act 921).
TOR is second in the category of Highly Compliant institutions, the highest level possible on the Public Financial Management Compliance League.
“By constructively ranking institutions based on their level of compliance, the ministry seeks to deepen transparency, promote accountability and encourage continuous improvement in the public sector in the management of public resources,” a press release by the Ministry of Finance explained.
The Ministry of Finance has pledged to help covered entities that rank low to identify the gaps and fill them.
The competent management of TOR, led by its Managing Director, Edmond Kombat, has received widespread praise for revamping the refinery and ensuring that it has resumed refining crude oil for the first time since 2018.
The Environmental Protection Agency(EPA) topped the league as the most Compliance entity.
