Parliament rises without approval of Chinese loan

Accra , Dec 22, GNA - Parliament on Wednesday went on recess without the approval of the subsidiary agreement between Ghana and the China Development Bank for One billion dollars to finance the Western Corridor Gas Project, a main thrust of Government’s agenda for national economic transformation.

Accra , Dec 22, GNA - Parliament on Wednesday went on recess without the approval of the subsidiary agreement between Ghana and the China Development Bank for One billion dollars to finance the Western Corridor Gas Project, a main thrust of Government’s agenda for national economic transformation. The approval that would enable the Government to maximize the exploration of gas from the Jubilee Oil Field and other future gas discoveries, should have taken place today, as per the order of business of the House before it rose. However, it had to be put on hold till Parliament reconvenes on January 24, 2012. A Deputy Minister of Finance and Economic Planning, Mr Seth Terpker, laid the project report on the agreement before Parliament on December 15 for approval, but the joint Finance and Mines and Energy Committee of Parliament was still considering the report. Government at various occasions has harped on the need to commercialize the natural gas from the Jubilee Field, stating that the speedy development of the Western Corridor Gas Project was critical for reliable supply of natural gas to operate thermal power plants in the Western Corridor. The project, which is to be developed by the newly-created Ghana National Gas Company and expected to cost some 850 million dollars, would include a pipeline from the Jubilee Field to the Osagyefo Power Barge and another to connect Takoradi Thermal Power Complex and the West African Gas Pipeline Project. The credit facility is for the second trance under the Master Facility Agreement between the |Government of Ghana and the CDB for a total amount of three billion Dollars to finance infrastructural development projects under the Ghana Shared Growth and Development Agenda. In rising, the leadership of the House praised the contributions of Members of Parliament (MPs) and the Media for a successful session. The Minority Leader, Mr Osei Kyei-Mensah Bonsu, commended the MPs for working tirelessly and diligently to ensure effective execution of the business of the House and for meeting deadlines that ensured their smooth administration of Government. He said though the Minority disagreed with the policy direction of the Government, it was the hope of all Ghanaians that Government would implement the budget, that generated exciting debates on the floor of Parliament, to affect their lives positively. The Minority Leader expressed the hope that the quality of debate on the budget would improve next year and called on Parliament to scrutinize and be more diligent in vetting loans and other agreements that would be brought before the House. Mr Bonsu commended Parliament for efforts being made to engage consultants and experts in the pursuit of its oversight and legislative functions and said “We should be careful of our debt stock and debt sustainability”. He reiterated the commitment of the Minority to cooperate with the Majority to facilitate the implementation of Government polices and demanded reciprocity from the Majority and wished all and sundry a pleasant yuletide. The Majority Leader, Mr Cletus Avoka, commended Members for their comportment, decorum, understanding and cooperation exhibited throughout the session, and asked them to maintain the same level of performance in all Parliamentary proceedings. He also commended the Speaker of Parliament, Madam Joyce Adeline Bamford-Addo for the “balanced manner in which you conducted the affairs of the House; the true mother you have been”. The Speaker called for “consensus building and bridging of the political divide”, and appealed to MPs to “blend their political colours to give a rainbow beauty that would unite the people of Ghana and the political season approached”. The House reconvenes on January 24.