Parliament has passed the Value for Money Office Bill, 2026, clearing the way for the creation of an independent body to strengthen oversight of public spending and procurement.
Presenting the bill earlier in February, Finance Minister Cassiel Ato Forson said the legislation is designed to address long-standing issues such as inflated contracts, project abandonment, cost overruns and wasteful expenditure.
According to him, the new law establishes a comprehensive framework to ensure that public funds deliver maximum value through improved efficiency, transparency and accountability.
The new Value for Money Office will function as an independent oversight institution with the authority to conduct value-for-money assessments and issue mandatory certificates before major government contracts are awarded.
It will also monitor compliance and enforce sanctions where violations occur.
Dr Forson told Parliament that the office would play a critical role in improving public financial management and ensuring that government projects are completed on time and deliver tangible benefits to citizens.
Source:Fiilafmonline/3News
