The Minister of Information, Kojo Oppong Nkrumah has disclosed that the government will this morning commence processes to terminate the concession agreement between it and the Power Distribution Services, PDS.
The move follows the announcement of the cancellation of the contract by the Minister of Finance, Ken Ofori Atta after a meeting with officials of the Millennium Challenge Corporation.
The US government has since discontinued the provision of $190 million to support the turnaround of the ECG.
The government in July this year suspended the PDS deal on grounds of fundamental breaches by the partners of the consortium.
Addressing the press on the issue, Kojo Oppong Nkrumah said the government is committed to giving value for money for Ghanaians with the supply of power.
“On the America side, though the insurers stand by a purported guarantee, the deal is that the termination and restructuring will be more tolerable. As we have mentioned, the two sides have not been able to find a common path to resolve this point. The government of Ghana consequently is today commencing the process to terminate [the agreement]. The necessary documentations are being filed with PDS and the Energy Commission. It is expected that residual matters between ECG and PDS will be resolved with dispatch”
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