39
General News Wed, 31 Jul 2019

PDS presented forged document for takeover of ECG – Amewu

The Minister for Energy John Peter Amewu has said investigations conducted by the government has established that a document that was presented by Power Distribution Service (PDS) as a guarantee for the takeover of the Electricity Company of Ghana (ECG) was forged.

The minister explained that even though the document indicated that a company in Qatar has guaranteed for PDS, the management of the company told the government it had no knowledge of the document.

Speaking to Citi Business News, Mr. Amewu stated that the government will prosecute anyone found to have engaged in the fraudulent act.

Government of Ghana in the late hours of Tuesday, July 30 announced the abrogation of the contract with Power Distribution Services barely six months after the company took over from the Electricity Company of Ghana.

In a statement signed by Information Minister Kojo Oppong Nkrumah, it disclosed that “the decision follows 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 diligence."

"The Demand Guarantees were key prerequisites for the lease of assets on 1st March 2019 to secure the assets that were transferred to the concessionaire."

It further indicated that steps were underway to unveil the details that went into it as government is conducting a full enquiry into the matter.

Source: citinewsroom.com
Related Articles: