Value for Money Office will curb inflated contracts and reduce waste – Finance Minister
Finance Minister Dr Cassiel Ato Forson has expressed confidence that the newly established Office for Value for Money will help reduce inflated public contracts and minimise wasteful government expenditure.
He made the remarks after President John Dramani Mahama assented to the bill establishing the office, stating that the initiative would strengthen fiscal discipline and improve efficiency in the use of public funds.
According to Dr Forson, the office is expected to curb the inflation and “padding” of government contracts while ensuring that public procurement processes deliver real value to taxpayers.
“The Office for Value for Money will stop inflation and padding of contracts,” the Finance Minister said.
He further explained that the institution would generate significant savings for the state by closely scrutinising public spending and project implementation.
Dr Forson added that the office would effectively “pay for itself” through the savings it creates, while also helping to reduce overall government expenditure.
He noted that the resulting fiscal savings would provide additional space for government to invest in key sectors of the economy.
“And obviously create fiscal space that will be used to develop other sectors of the economy,” he added.
The Office for Value for Money is part of broader public financial management reforms aimed at improving transparency, accountability, and efficiency in government spending.
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