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Contrary to claims that the Millennium Development Authority (MiDA) did not follow due diligence in the Electricity Company of Ghana (ECG) and Power Distribution Services (PDS) deal, a statement from the authority has claimed otherwise.
The statement indicated that each step of the transaction was subjected to careful scrutiny and various stakeholder approvals.
“In line with best practice in International Business Transactions, all documents submitted as part of the transaction were accepted on the basis of good faith and the presumption in law as to their validity."
"While the current development is an unfortunate setback to the progress of the Concession, MiDA wishes to assure the public that it welcomes investigations into this matter” the statement indicated.
However, the Managing Editor of the Insight newspaper, Kwesi Pratt Jnr thinks the statement is funny.
Contributing to a panel discussion on Peace FM morning show 'Kokrokoo', Tuesday, he said: "after reading MiDA's statement I laughed uncontrollably. They claim they did due diligence…where is the due diligence they did".
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