PDS saga: Gov’t ready to lose $19Om MiDA money – Oppong Nkrumah

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Information Minister, Kojo Oppong Nkrumah has said that the Government of Ghana is prepared to lose the amount of $19Om which the Government of the United States of America (USA) was ready to give to Ghana as the second tranche of the Millennium Challenge Account compact.

The government officially announced the cancellation of the PDS concession contract; a decision which the US has expressed disapproval.

“The United States of America notes this decision with regret. Based upon the conclusions of the independent forensic investigation, the U.S. position is that the transfer of operations, maintenance, and management of the Southern Distribution Network to the private concessionaire on March 1, 2019, was valid, and therefore the termination is unwarranted.

“As such, MCC has confirmed that the $190 million funds granted to Ghana at the March 1 transfer to the 20-year concession from ECG to PDS are no longer available,” the US Government had stated in a press release.

ECG had in a statement communicated that it had cancelled its agreement with the PDS and has subsequently taken over the electricity distribution services in the southern part of the country.

The statement was followed by an announcement by the Minister that the contract had permanently being terminated.

Kojo Oppong Nkrumah confirmed that government is aware of the fact that it will lose the second tranche of the MCA compact.

Source: Ghana | Angelfmonlinegh.com

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