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General News Wed, 23 Oct 2019

PDS saga: 'Commend Akufo-Addo for standing firm against US pressure' - Minister

The government of Ghana has said it deserves a lot of commendation for standing its ground in terminating the Power Distribution Service (PDS) concession agreement under the U.S. Millennium Challenge Compact II in spite of international pressure to hold onto the existing terms of the contact with Meralco consortium.

The government said as a result of the failure by PDS to respect and fulfill certain fundamental demands of the terms of the contract, it will no longer lease the assets of the state power distributer, hence the need for the Electricity Company of Ghana (ECG) to take over the operations of PDS.

Terminating the PDS contract has led to the government of the United States of America withdrawing some $190 million advanced to Ghana under the Compact II programme of the Millennium Challenge Corporation.

Despite losing the money, Deputy Energy Minister William Owureko Aidoo said President Akufo-Addo and the government should be lauded for protecting Ghana’s interest.

Speaking at a press conference in Accra on Wednesday, 23 October 2019, Mr Aidoo said: "... It is a commendable move by the government notwithstanding the pressure that was brought to bear. This is not the first time this government has taken a very bold step without capitulating to the big friends like the United States of America.”

Meanwhile, Information Minister Kojo Oppong Nkrumah has said Finance MinisterKen Ofori-Atta will brief the country in the coming days on the way forward.
Source: Class FM
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