Terminate PDS concession agreement immediately - Minority

The minority in parliament is calling for immediate termination of the PDS concession agreement describing it as fraudulent.

According to them, the Finance Minister Ken Ofori-Atta and Energy Minister Peter Amewu knew the guarantee was fraudulent from the onset but went ahead assent to it.

Addressing the press on Thursday, Former Deputy Energy Minister, John Jinapor said the president must be held "responsible and liable for this embarrassing spectacle".

“The ministers of Finance and Energy knew all this while that the guarantee was fake but decided not to act on the anomaly for reasons best known to them,” he added.

The Minority is therefore asking for the contract to be terminated immediately.

“To ensure efficient and sustainable delivery of power, as a matter of urgency, we insist (government) terminate the Concession Agreement with immediate effect”

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.