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The government has suspended the concession agreement with Power Distribution Services (PDS), bringing back the Ghana Electricity Corporation (ECG) to full control over the distribution of electricity.
According to Information Minister Kojo Oppong Nkrumah, the decision was made after the government detected "fundamental and substantial breaches of the PDS obligation to provide payment guarantees (on-demand guarantees) for the transaction. which were discovered during subsequent checks ".
Latest news on Joy News PM Express On Tuesday, he said the government wanted to secure the ECG badets that were handed over to PDS as part of the dealership deal.
"We detected, through extensive intelligence services, that they had problems with the guarantees provided … they were not valid and we took steps to secure the badets of the company. State suspending the concession agreement, "he told the host. Evans Mensah.
The deputy of Ofoase Ayeribi also revealed that the Energy Commission had revoked the PDS distribution license and allowed ECG to resume work while the government conducted a thorough investigation.
PDS became the first private company to manage ECG business after Ghana won the Power Compact II, which will inject some $ 900 million into electricity distribution.
ECG's efforts to make a profit for many years have highlighted the need for a private investor for the sector.
Below the government statement
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