The Minister of Energy and Green Transition, John Jinapor, has announced a reduction in the budget allocation for the Electricity Company of Ghana (ECG) from GH₵500 million to GH₵250 million following the controversy surrounding missing containers at the Tema Port.
The move is aimed at helping to settle debts owed to power producers.
Speaking on the floor of Parliament, Mr. Jinapor stated that ECG had been allocated GH₵935 million in 2023 for planned procurement.
“We have reduced their budget from GH₵500 million to GH₵250 million because we must pay the power producers. Today, the bill is over GH₵80 billion in the energy sector. If we don’t do something, this sector will collapse. As a minister, I am determined to do my bit no matter how difficult it is,” he stated.
However, he noted that ECG had exceeded its allocation by GH₵7.3 billion, primarily due to excessive cable purchases, which resulted in revenue shortages.
The financial challenges also contributed to the missing containers at the port, as some were unable to be cleared due to unpaid fees.
Mr. Jinapor assured that stringent measures were being implemented to prevent further financial mismanagement and ensure ECG’s sustainability.
ALSO READ: