Minority accuses former energy minister and nuclear power plant government of causing financial loss to state

The National Democratic Congress (NDC) minority caucus in parliament accused the government of allowing former Energy Minister Boakye Agyarko and other government officials to free themselves from the situation after allegedly terminating a contract which resulted in a judgment debt of $ 164 million.

The contract, they said, was an emergency electricity deal between the government of Ghana and the Ghana Power Generation Company (GPGC) Limited against expert advice, which resulted in the court ruling international arbitration against the country.

Minority leader Haruna Iddrisu, who was represented by former deputy energy minister John Jinapor, said the International Court of Arbitration had ruled against Ghana over the termination of an agreement to emergency electricity with GPGC Limited.

He then ordered the Government of Ghana to pay the full value of the early termination, namely $ 134,348,661, plus accrued interest of $ 30,000,000 and other related charges of $ 3,309,877.74 at the rate of Libor for three month deposits in US dollars.

Reacting to this, Mr. Iddrisu noted that the move comes in the wake of the country’s struggling economy which is currently choking on huge and unsustainable debt.

He therefore demanded that government officials involved in the illegal termination of the contract be held accountable and punished accordingly.