Co-chair of the Ghana Extractive Industry Transparency Initiative (GHEITI), Dr Steve Manteaw has expressed dissenting views on the call of the Asantehene, Otumfuo Osei Tutu II for the government to diversify the Electricity Company of Ghana (ECG), Volta River Authority (VRA), and the Ghana Grid Company (GRIDCo).
According to him, government cannot completely take itself out of the companies should it be privatised.
The Asantehene on Wednesday highlighted the need for the privatisation of the power distribution companies to ensure essential financial investments.
He made these remarks during the commissioning of a 430-kilometre natural gas pipeline by Genser Energy, aimed at bolstering the nation’s power sector.
Reacting to this, Dr Manteaw speaking on Adom FM’s morning show, Dwaso Nsem Thursday said total privatisation will not be in the best interest of the country.
“It is good to privatise but the government cannot completely take itself out. ECG, VRA and GRIDCo’s job is indeed monopoly but an economist will tell you state monopoly is better than private monopoly because we used state funds to procure these companies. So the state exists to work and protect the interest of the people.
“What helps the private companies is competition but the state blends public interest and commercial interest, so dilution of ownership will become imperative if we are to make headways,” he said.
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