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General News Thu, 24 Oct 2019

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PDS mess due to unprecedented witchcraft or incompetence – Kwaku Azar

Cerebral Professor of Accounting and legal luminary, Professor Stephen Kwaku Asare( Kwaku Azar) has blamed the botched contract with Power Distribution Services(PDS) on either witchcraft or incompetence on the part of Ghana’s government.

Expressing his disappointment over the termination of the concessionaire agreement with PDS which has led the United States government to withdraw its $190 million support for the country, he described the contract with PDS as a hopeless one which came about as a result of unprecedented witchcraft or incompetence.

“We committed to initiate a private-sector led reform of the energy sector in exchange for $500M from USA under its millennium challenge program.

Due to either incompetence or witchcraft, we managed to sign the most hopeless contract with PDS after paying millions to Jo Australia, Al Koot and others,” he bemoaned.

He is of the opinion that the transfer of assets of the Electricity Company of Ghana (ECG) to PDS was done without much needed due diligence which led to government transferring the assets before finding out what it should have found out before the transfer took place.

“After transferring the ECG assets to PDS, we found out much later what we should have found out before transferring our assets that PDS is in no position to pay for what we have transferred to them

We had no choice but to cancel the fraudulent contract,” he stressed.

Full statement below:

“We committed to initiate a private-sector led reform of the energy sector in exchange for $500M from USA under its millennium challenge program.

Due to either incompetence or witchcraft, we managed to sign the most hopeless contract with PDS after paying millions to Jo Australia, Al Koot and others.

After transferring the ECG assets to PDS, we found out much later what we should have found out before transferring our assets that PDS is in no position to pay for what we have transferred to them.

We had no choice but to cancel the fraudulent contract.

The USA, insisting on our adherence to timelines, withdraws $190M, a tranche of the $500M.

This unprecedented incompetence or witchcraft is now being celebrated as a victory for sovereignty, even though our one eye is on the balance that is left from the $500M.

Herrrr, let’s get serious oh!

Da Yie!”

Source: mynewsgh.com

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