No value for money in ECG sale - Group

Fri, 26 Aug 2016 Source: Atinka Online

The Coalition Against the Sale of Electricity Company of Ghana (CASECG) is vehemently kicking against the sale of ECG, saying its financial standing is viable than the concessioner.

Mr. Richard Nyamah, the convener of the group disclosed that having done steady evaluation of distribution system, ECG is investing about $100 million into it. This is double of what the private company brings on board.

A further assessment reveals this private company in total would invest $400 million whereas ECG’s evaluation is around $4 billion. Mr Nyamah made the statements on Atinka FM’s AM Drive with Ekourba Gyasi Thursday .

The Government is also selling all properties of ECG to the new company except their headquarters and training school and this shows clearly that the deal has no value for money and it is a recipe for disaster.

The convener again said the Millennium Challenge Corporation has given the government $498000000 million so that ECG could be sold. This means each year government would invest $99600000 which is less than that of ECG.

Source: Atinka Online
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