- : Ms Word, Ms Word Format
- : 75 Pages
- : ₦5000
- : 1-5 Chapters
- Click to DOWNLOAD Materials
ASSESSING THE EFFECTS OF THE PROCUREMENT ACT (663) ON PUBLIC FINANCIAL MANAGEMENT IN GHANA
ABSTRACT
The government has since 2001 made various efforts to correct the uncontrolled
expenditure of public funds that characterised the national economy and led to a
rather unstable economic climate. The government therefore set itself the task of
regulating expenditure and instilling discipline in public finances through Public
Procurement Act (663) and Financial Administration Act (654).
According to Osafo-Marfo (2003) government embarked upon an exercise to reform
the Public Procurement System in 1996 as an integral part of a wider Public Financial
Management Reform Programme (PUFMARP). Public procurement accounts for
about 50% to 70% of total government expenditure, represents 14% of Gross
Domestic Product (GDP) and accounts for about 24% of total imports (Ministry of
Finance, 2003).
This study sought to find out how far the Public Procurement Act has achieved
transparency in the use of state resources, causes of delays in the procurement process
and effects of the Procurement Act on government expenditure. Geographically,
Ashanti Region was the focus of the study, the reason being that, there were a lot of
agitations in the region about lack of transparency in procurement activities and long
delays in payment of contractors and suppliers. Explanatory research design was used
to explain and analyse causal relationship between the Public Procurement Act and
public financial management in Ashanti Region. The study relied on both probability
and non probability sampling techniques.
The study revealed that procurement activities and procedures were transparent in that
decisions on procurement activities followed the rules and regulations of the Act and
these decisions were available and accessible to the public. The study again revealed
that contractors were not paid on time after execution of contracts and this affected
their organizational management. It was concluded that the Procurement Act had
reduced government expenditure considerably in the sense that the Procurement Act
has reduced wastage and leakage of financial resources through effective auditing,
expenditure monitoring and cost effectiveness and competition which has brought
value for money.
It was therefore recommended that Procurement entities comply with the contractual
agreement with contractors/suppliers by honouring prompt payment upon completion
of contracts/projects. In addition, Government should endeavour to review the Act to
limit the number of steps in the procurement process so as to reduce the delays in the
procurement process.
TABLE OF CONTENT
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
