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Mandate/Role of the Committee PDF Print E-mail
Committees
In accordance with standing orders 169; 170 and 171 of the Parliament of Ghana; Bills, inquiries and other matters related to finance and the economy generally are referred to the committee on finance. The committees functions therefore include

1. Examination of bills normally financial disposition from the ministry of finance and economic planning and related departments and agencies.

2. Examination of loans and other agreements on international business or economic transaction that requires parliamentary authorization.

3. Monitoring foreign exchange receipts and payment of transfers of the bank of Ghana in accordance article 184(1) or the 1992 constitution of the republic of Ghana.

4. Examination of tax waiver and imposition of taxes.

5.Examination of annual financial statement that relates to revenue expedition as well as estimates of minister, general government services and government financial bill which are referred to the committee..

6. Contingency fund and vote on account.
The finance committee authorizes advances in accordance with article 177 of the 1992 constitution which states.

177(1) There shall be paid into the contingency fund moneys voted for the purpose by parliament and advances may be made from that fund which are authorized by the committee responsible for financial measures in parliament whenever that committee is satisfied that there has arisen an urgent or unforeseen need for expenditure for which no other provision exists to meet the need.
177(2) where an advance is made from the contingency fund a supplementary estimate should be prepared as soon as possible to parliament for the purpose of replacing the amount so advanced.