‘Dumsor’ will collapse half of local industries - Agyapong

Sat, 14 Feb 2015 Source: starrfmonline.com

The Member of Parliament for Assin Central, Kennedy Agyapong has predicted that half of local businesses will collapse by the end of this year, 2015, as a result of the erratic power supply in the country.

According to him, many of the indigenous companies have already laid off majority of their workers but are still struggling to stay in business.

Ghana has been experiencing serious challenges with its power sector for the past few years resulting in hardships on businesses and domestic consumers.

Between 440 and 650 Megawatts of power is shed during off-peak and peak periods due to the supply shortfall, a situation which has resulted from poor water level in three hydro-electric power stations – Akosombo, Bui and Kpong – as well as faulty equipment, lack of gas from the West Africa Gas Pipeline for thermal power production as well as lack of funds to buy light crude oil.

Government is now raising funds to bring in some emergency power barges from Turkey to help the situation.

There are reports government has had to fall on the Ghana National Petroleum Corporation (GNPC) to provide funds for that purpose.

Speaking to Citi FM on the matter, the maverick MP said the power situation has become a nightmare to Ghanaians.

“I was panicking when I heard the power minister say he can’t give any concrete timeline until the end of the year.

“By the end of the year, they (Government) would have collapsed about 50 percent of industries in the country,” he fumed.

Source: starrfmonline.com