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ECONOMICS

ASUTIFI N: Local Management Committee sensitized on Mining Community Development Scheme

The Minerals Development Fund (MDF) Board has sensitized the Local Management Committee (LMC) of the Asutifi North District on the Mining Community Development Scheme (MCDS) which has been developed to aid in proper disbursement and utilization of allocated funds by the LMC.

Date Created : 5/22/2020 3:46:17 AM : Story Author : Mavis Ofosuah Asante/Ghanadistricts.com

The Minerals Development Fund was established in 2016 to provide financial resources to the benefit of mining communities that have been affected negatively by mining activities and its related matters.

Its funding is sourced from 20 percent of minerals’ royalty from Ghana Revenue Authority (GRA), grants, donations, funds from holders of mining leases, funds made to the fund as a result of investments made by the board and funds approved by Parliament.

Among areas addressed in the guidelines were the functions, membership and roles, tenure of office and operations of the committee, project development and approval cycle, and many others.

The administrator of the Minerals Development Fund, Dr. Norris K. Hammah explained that the guidelines have been developed in line with the Minerals Development Fund Act, 2016 (Act 912), Public Financial Management Act 2016 (Act 921), Public Financial Management Regulations, 2019 (L.I. 2378) and Public Procurement Act 2003 (Act 663) as amended by the Public Procurement Act 2016(Act 914) to prevent the probability of mismanagement of the fund by Local Management Committee.

Chairperson of the Asutifi North District LMC, Nana Osei Kofi Abiri reiterated the committee’s commitment to ensuring the purpose of the establishment of the fund by the government to be achieved to the immerse benefit of affected communities.

In attendance were the officials from the board, LMC, and media comprising of not more than 25 people as per the social distancing protocols. Nose masks and hand sanitizers were also provided.