Finance Minister: Parliamentary impasse preventing debt restructuring agreement with IPPs from being completed

The debt restructuring arrangement with certain Independent Power Producers (IPPs) has been impacted by the current parliamentary impasse, according to Finance Minister Dr. Mohammed Amin Adam. While three of the IPPs have signed or are expected to sign, two additional power producer agreements have stalled because of the ongoing parliamentary hold-up, Dr. Amin Adam told reporters during the finance ministry's monthly economic briefing. He emphasised that parliament must approve the agreements between Cen Power and Amandi.

The Karaga constituency's member of parliament feels that this has caused important government business to halt. We reached an agreement with the Independent Power Producers, and a few of them have given their approval. For instance, AKSA has approved, Asogli and Zenit are on the verge of doing so, and the only PPAs that remain are those involving Cen Power and Amandi, as they must be approved by parliament.

We are all familiar with the history of parliament. He continued, "Those two PPAs will stay outstanding until parliament returns and authorises them. After the majority filed a lawsuit to oppose the Speaker of Parliament's decision to declare about four seats empty, Parliament was delayed indefinitely.

Dr. Amin Adam maintains that the government has fulfilled its end of the agreement regardless of the circumstances. "In the meantime, we have fulfilled our end of the bargain," he emphasised. "We have done everything, we haven't missed a dollar," he added, highlighting the government's resolve to see the deal through to completion.

"I can say that we have been very religious with our side of the bargain while we wait for parliament to approve those restructuring PPAs," he stated. The current state of parliament seems to be against this cause, even though the agreement with the IPPs is welcome news after the various power producers threatened to shut down due to unpaid obligations.