VALCO should be realistic - J. H. Mensah

Mr Joseph Henry Mensah, Senior Minister, on Wednesday said the Volta Aluminum Company (VALCO) would have to be realistic in its demands for lower electricity tariffs and other incentives specifically tailored for young industries.

"No country would subsidise electricity for a multi-national company for that long period of time when its own people pay so much after switching on a bulb"


The Senior Minister, who is also the Chairman of the Government's Economic Team, gave the side talk during a debate on the 2003 financial proposals of government in Parliament.


He said every one would have to learn to live in the present environment where power was no longer cheap and abundant.

The member said VALCO had enjoyed cheap power for far too long and that the time had come for the review of that incentive.


"VALCO was supposed to help us develop our bauxite fields to get a local supply base for alumina but for all this while, they had preferred importing all their raw material from Jamaica, Mr Mensah said.


He said government's stance on the issue had been misconstrued in the international power corridors and that was affecting the reputation of the country.