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General News Wed, 31 Jul 2019

Suspension of PDS’ agreement not government’s final decision – Oppong Nkrumah

The suspension of concession agreement with the Power Distribution Services (PDS) is not final decision of the government, Information Minister, Kojo Oppong Nkrumah has said.

“The government is conducting a full enquiry into the matter, and the outcome will inform the next course of action”, he spoke on Kumasi-based Nhyira FM in an interview monitored by MyNewsGh.com.

According to him, investigations into fundamental and material breaches of PDS’s obligation in the provision of Payment Securities (Demand Guarantees) for the transaction which have been discovered upon further due diligence is still ongoing.

Government has suspended its concession agreement with the Power Distribution Services (PDS) bringing back the Electricity Company of Ghana (ECG) in full control.

“We have through deep intelligence detected issues with those guarantees that were provided…they were not valid as a step we have taken measure to secure the assets of the state by suspending the concession agreement”, the Minister explained.

Hon. Kojo Oppong Nkrumah therefore assured the government has taken steps to ensure distribution, billing and payment services continue uninterrupted.

Source: mynewsgh.com
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