New Juaben North Constituency Chairman of the New Patriotic Party, Mr Kwadwo Boateng has blamed the Millennium Development Authority (MiDA) Compact I and II signed under the erstwhile Mahama led administration as the cause of the immediate suspension of the Power Distribution Services concession agreement.
According to him, the compact was signed with the intention to pay debts of the Electricity Company of Ghana Limited owed some Ghanaians after which the company would have to be sold to a private entity.
He added that MiDA which played an intermediary role to facilitate the financial transaction between government through the ECG and PDS has itself to be blamed.
Mr Boateng made these statements in an interview with host of an Accra based radio station Hot FM 93.9, Isaac Boamah Darko as a reaction to the Minority press conference held yesterday to discuss the genesis and way forward of the sudden suspension of the operation of PDS in the distribution of electricity.
The NPP New Juaben Chair said before the sale of ECG to PDS, ECG considering the huge assets reached an agreement with MiDA to ensure the smooth transaction of ECG.
Mr Boateng explained that upon ECG's unsuccessful search to locate a bank he termed as "Bank A" which should have strong financial worth, to accommodate the assets for transaction fell on MiDA to assist in getting a Bank with huge financial capacity.
He added that MiDA was unable to get the bank but instead offered an insurance company for the transaction.
He indicated that ECG on three occasions have written for verification from MiDA to determine the assets for the sale to PDS but have hit the blank.
He accused the Minority of being economical with the truth with regard to events leading to the sale of the ECG.
Mr Boateng has therefore congratulated President Nana Addo Danquah for his bold decision to call for the urgent suspension of the PDS contract "which is currently undergoing a 30 day period of probings to unravel persons behind the shady deal".