The Ghana Revenue Authority (GRA) has asserted that the proper procedures were adhered to by its board and management in securing the services of Strategic Mobilisation Ghana Limited (SML).
In a statement released on Wednesday, the GRA emphasized, “The Contract is for five (5) years and is performance-based and approved under Section 40 of the Public Procurement Act, Act 663, 2003.”
This clarification comes in response to a report by the Fourth Estate on Monday, revealing that SML had been granted a 10-year contract and allegedly receives $100 million annually from the arrangement.
The Fourth Estate’s investigations also purportedly refuted claims by SML that it had played a crucial role in saving Ghana billions of cedis in the downstream petroleum sector.
The GRA highlighted that the consolidated contract, designed as a risk-reward arrangement, aims to enhance efficiency in the delivery of Revenue Assurance Services to the GRA.
“SML, per the contract, is required to provide resources for the execution of the contract. By implication, if there is no value addition, SML is not paid. In short, the principle of risk and reward is the fulcrum of the contract,” the statement added.
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