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Name PDS deal ‘fraudsters’ – NDC to govt

Mon, 10 Aug 2020 Source: 3 News

The National Democratic Congress (NDC) is demanding that the Akufo-Addo-led government names the individuals who were alleged to have forged documents to push through the Electricity Company of Ghana (ECG) concession deal.

Parliament approved the concession agreement for the Electricity Company of Ghana (ECG) under the Millennium Challenge Compact on July 25, 2018. The agreement led to the takeover of ECG by the Power Distribution Services (PDS) which was expected to invest over US$ 580 million over a 5-year period into ECG to improve on its performance.

The deal was however short-lived as it was suspended by the government, citing fraud, and later terminated.

A statement signed by the Minister of Information, Kojo Oppong Nkrumah on Tuesday July 30, 2019, said the decision for the suspension of the deal “followed the detection of fundamental and material breaches of PDS’ obligation in the provision of Payment Securities (Demand Guarantees) for the transaction which have been discovered upon further due diligence”.

Energy minister John Peter Amewu also cited fraud as the basis for the government’s action. Some investigations were launched in the issue.

A year on, the opposition NDC wants the government to tell Ghanaians what has come out of the investigations.

At the party’s weekly press briefing, National Communications Officer, Sammy Gyamfi, said the government must account to Ghanaians with respect to that failed agreement.

“Since the Minister for Energy, honorable Peter John Amewu told Ghanaians that the insurance guarantee PDS presented for the takeover of the over 20 billion worth of assets of ECG, which allegedly issued the said guarantee, who were those who perpetrated this fraud, and what actions has president Akufo-Addo taken to ensure that they answer for this fraud?”, he quizzed.

Meanwhile, the party is optimistic a wind of change is blowing to bring the NDC to power.

Source: 3 News

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