The Public Accounts Committee (PAC) of Parliament has opened an investigation into PSC Tema Shipyard following revelations of unpaid ground rent arrears and a disputed $500,000 payment made to the Ghana Ports and Harbours Authority (GPHA).
According to the Auditor-General’s report, the shipyard owes GPHA a total of $6.6 million in ground rent, despite being contractually required to pay GH¢6,000 annually under a 25-year lease agreement.
The report further disclosed that a lump-sum payment of $500,000 was made to GPHA in 2024 under circumstances that have now raised concerns.
Appearing before the PAC during a public hearing at Parliament House on Tuesday, the Chief Executive Officer of PSC Tema Shipyard, Alhaji Osman Sulemana, attributed the accumulation of arrears to prolonged financial challenges facing the company.
He explained that the $500,000 payment was executed under the previous administration.
“Mr Chairman, the current management is reviewing the transaction to establish the circumstances surrounding it,” Mr Sulemana told the Committee.
However, members of the Committee expressed deep reservations about the propriety of the transaction. Mr Eric Edem Agbana, a PAC member, described the matter as troubling, citing potential conflicts of interest.
He noted that the payment was reportedly initiated by a staff member seconded from GPHA to PSC Tema Shipyard, raising questions about governance controls and internal oversight within the entity.
In response, the PAC directed the management of PSC Tema Shipyard to submit all relevant documentation and provide a detailed explanation to justify both the payment and the non-settlement of outstanding rent obligations.
The hearing formed part of the PAC’s two-day public sittings held from January 12 to 13, 2026, to examine the Auditor-General’s reports on the Public Accounts of Ministries, Departments and Agencies (MDAs) for the year ended December 31, 2024.
In her closing remarks, the Chairperson of the PAC, Madam Abena Osei-Asare, commended the cooperation of key stakeholders throughout the hearings.
“The Committee expresses gratitude to the Auditor-General, the Audit Service, auditees, Parliament, the media, and the security agencies for their support,” she said.
Madam Osei-Asare underscored the importance of transparency, accountability, and sound public financial management to Ghana’s development agenda, noting that the Committee remains committed to upholding high standards in the oversight of public resources.
She added that the PAC would continue to work closely with the Executive and Judiciary to strengthen financial discipline and ensure that its work delivers tangible impact for the public.
