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General News on Wednesday, July 31, 2019
Source: starrfm.com.gh
2019-07-31
The government has suspended its contract with the energy distribution services
Power Distribution Services (PDS) has announced its intention to work with the Government of Ghana to test its payment guarantees (on-demand guarantees) during the ECG takeover.
In a statement, the company stated that it had always acted in good faith and that it would not be eager to release information until it was justified.
The government has suspended its contract with Power Distribution Services (PDS).
Information Minister Kojo Oppong Nkrumah said in a statement Tuesday night that the decision took effect immediately.
"The Government of Ghana, through the Ministry of Finance and the Ghana Electricity Corporation (ECG) Ltd., has suspended the concession agreement with Power Distribution Services (PDS). Ghana Limited with immediate effect ".
The decision follows the detection of substantive and substantial breaches of PDS's obligation to provide payment guarantees (on-demand guarantees) for the transaction that were discovered in subsequent audits.
"On-demand collateral was an essential prerequisite for leasing badets as of March 1, 2019 to secure badets transferred to the dealer. The government is currently conducting a thorough investigation into this case, the outcome of which will determine the next plan of action. "
He added, "The government has taken steps to ensure that distribution, billing and payment services continue uninterrupted. The general public and customers are badured that this development will not interfere with the distribution of electricity services to their customers. "
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