PURC’s financial autonomy in final stages

The Public Utilities and Regulatory Act, 1997, that established the Public Utilities and Regulatory Commission (PURC) is to be amended to reinforce the financial independence of the regulatory body. Established as an independent body to regulate and oversee the provision of utility services in the country, the financial independence of the Commission has been compromised by its dependence on the Ministry of Finance and Economic Planning (MOFEP) for the release of funds for its operations. The Chairman of the PURC, Mr Kwame Pianim, told the Daily Graphic that the PURC had proposed a levy on the turnover of utility companies in the country as the source of its funding, to make it a stronger and genuine arbiter with the requisite staff to police utilities. Having received the approval of Cabinet, the draft proposals are undergoing final touches for onward submission for the amendment.