The Public Accounts Committee (PAC) of Parliament has recommended that the Social Security and National Insurance Trust (SSNIT) be made to submit half-year performance reports on its investments to the Finance Committee of the House. That, according to the PAC, would ensure that SSNIT managed its investments well. The PAC said it was not happy with the manner in which SSNIT was handling its investments, explaining that the trust had invested GH¢515,000 in various activities and was not monitoring those activities to ensure their viability. The recommendation was expressed by the PAC on the report of the Auditor-General on the public accounts of Ghana (public boards, corporations and other statutory institutions) for the year ended 31st December, 2005. The committee observed that since SSNIT’s investments were to raise revenue to pay pensions, which were low, there was the need for its management to keep a close eye on its investments and ensure that they yielded acceptable returns. The report revealed that American Telecom Systems owed GH¢3,134; Ghana Air Shuttle Limited GH¢94,233.60; Gold Forms Limited GH¢73,547.91; Life Forms Limited GH¢5,743.20, and May Danielle Designs GH¢11, 911.68. The committee recommended that SSNIT pursue those tenants and recover all outstanding balances, while its officers whose inaction resulted in the debts should be surcharged. Meanwhile, the House on Friday approved a 21,887,520.31 Euro loan agreement between the government and the KBC Bank of Brussels, Belgium, for the construction of the Essakyir Water Supply System in the Central Region. Communities which will benefit from the project include Ekumfi Otuam, Mumford, Dago, Mbroboto, Ekumpoano, Muna, Aboano, Sefara, Essuehyia, Akra, Asaafa, Etwaa, Nakwa, Asokwa, Abeka, Ekumfi Swedru and other communities at the tail end of the distribution networks of the Winneba, Baifikrom and Kwanyako water treatment plants. Source: Daily Graphic/Ghana