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General News Tue, 26 Nov 2019

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PDS fiasco: Minority demands valuation, publication of ECG assets

Minority leader in parliament, Haruna Idrrisu, has called on government to evaluate the assets of the Electricity Company of Ghana and make it public for Ghanaians to know how much the company is worth.

According to him, such a move will help the public keenly monitor and put government in check as it explores other privatization option following the PDS fiasco.

“We demand as the minority that assets of ECG be valued and made public so that we know who deserves a 49 and 51 percent. If we don’t know the asset of ECG and say someone is entitled to 49 percent of it, 49 percent of what? The workers need our protection,” he said.

Meanwhile, Finance Minister, Ken Ofori Atta in presenting the Budget Statement and Financial Policy of the government of Ghana for the year ending 31st December 2020, revealed that the Electricity Company of Ghana is expected to be listed on the Ghana Stock Exchange.

He said, “Government will make every effort to avoid the pitfalls that the PDS concession encountered and institute broad Ghanaian institutional participation, as well as democratize local equity participation, with an eventual listing on the Ghana Stock Exchange.”

He also added that a well-executed partnership between ECG and the “right” technical and financial partners, will certainly improve the distribution capabilities and enhance end-user experiences.

Source: www.ghanaweb.com

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