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PDS: Gov’t has caused financial loss to the State – Minority

The Minority in Parliament has blamed the Akufo-Addo-led government for the withdrawal of $190 million final tranche of the MCC compact II insisting it has caused financial loss to the state.

Minority Leader, Haruna Iddrisu, who addressed the media Wednesday slammed government for misleading parliament and the entire country asking that officials responsible for the debacle be held accountable.

“Conversely we could term this as financial loss to the state arising out of the reckless, fraudulent and irresponsible acts of government in misleading parliament and misleading the entire country without thorough and diligent scrutiny of the documents they submitted to Parliament.”

“This will amount to financial loss to the state of Ghana and persons must be held accountable for that,” the Minority Leader said.

Meanwhile, Information Minister, Kojo Oppong Nkrumah has debunked claims that it brought up allegations of fraud as a basis to cancel its concession agreement with the Power Distribution Services (PDS) deal to inure to its own benefit.

“The government has not been up to any machinations. The intent has been to ensure efficiency in the ECG turnaround program and the fulfillment of a broader compact all along. Is there anything wrong with switching from 80-20 percent to 51-49 percent? No!”

Ghana loses $190 million US Money

The US government has cancelled the second tranche of $190 million dollars meant for Ghana under the millennium power compact.

“The United States of America notes this decision with regret. Based upon the conclusions of the independent forensic investigation, the U.S. position is that the transfer of operations, maintenance, and management of the Southern Distribution Network to the private concessionaire on March 1, 2019, was valid, and therefore the termination is unwarranted.

“As such, MCC has confirmed that the $190 million funds granted to Ghana at the March 1 transfer to the 20-year concession from ECG to PDS are no longer available.

“The United States underscores the importance of contract sanctity as essential to a conducive investment climate and a pre-condition for inclusive economic growth. In this spirit, the United States has worked with the Government of Ghana since the latter’s July 30 suspension of the concession in the hopes of finding a mutually acceptable solution that respected contract sanctity and the Government of Ghana’s interest in restructuring the concession,” the statement said.

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