The National Democratic Congress (NDC), has outlined what it says are three ‘sins’ committed by the Akuffo-Addo-led administration that has resulted in the termination of the concession agreement with Power Distribution Services (PDS).
Speaking in a press conference on Monday, October 21, 2019, the General Secretary for the party, Johnson Asiedu Nketia, said the Akufo-Addo government is responsible for creating the PDS mess through their “greed and negligence”, thereby jeopardizing the over GHS22 billion worth of assets of ECG.
“We are in this embarrassing mess called PDS because of the shady, if not criminal conduct of the Akufo-Addo government in its handling of the ECG concessionaire agreement,” he said.
According to Mr Nketia, the first of the ‘sins’ of the government in causing the mess, was the decision by Dr Bawumia, Ken Ofori Atta and the Millenium Development Authority (MIDA) to change the precondition of a bank guarantee into an insurance guarantee in a meeting at the Jubilee House on 19th February 2019.
The second was the government’s failure to conduct the necessary due diligence on the supposed insurance guarantee which was provided by PDS before handing over the GHS22 Billion assets of ECG to them.
The final and worst of the ‘sins,’ according to Mr Nketiah and the NDC, being illegally allowing the original partners of the Meralco-led consortium (PDS), on the blind side of parliament, to form and transfer their respective shares to a subsidiary company with the intent of isolating themselves from any potential risk and liability.
“The people of Ghana must hold none other than President Akufo-Addo and his corrupt government responsible for this PDS embarrassment and the financial losses it may or has occasioned,” Mr Nketia stated.
Source: Adomonline.com