Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah has said that President Nana Addo must call to order some of his officials allegedly craving for the cancellation of the PDS concession agreement for their own interest.
According to COPEC, the Akufo-Addo government must come clear with a proper working plan for ECG or forfeit its decision to terminate the agreement.
In an interview on Happy FM’s Epa Hoa Daben show, Duncan Amoah said “What we are getting from deep throat sources suggest that there is an interest from the Finance Ministry which had also tried at some point to re-negotiate even the shareholding position of the various parties within the agreement. And when the parties rejected the renegotiation of their shareholding agreement, it looked as though some people have taken a position to kick PDS out of this whole agreement. The officials seeking PDS downfall for their interest must be called to order.”
The Government of Ghana terminated the Concession Agreement with the PDS over the take-over of the assets of the Electricity Company of Ghana (ECG) for the distribution of electricity in the southern sector of the country.
The move was necessitated by a forensic audit conducted by the Millennium Challenge Corporation (MCC) and Government of Ghana’s investigations into the issuance of Demand Guarantees for the Concession Transaction, which revealed that the Payment Security for the Transaction was invalid.
The investigations re-affirmed the earlier report that there was no approval by Competent Signatories to the Demand Guarantees issued by Al-Koot in Qatar, therefore, the Transaction lacked the required authorization and approval of the Company.
By: Joseph Nii Ankrah
