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By
Christopher Arko
Accra, July 25, GNA – Parliament ratified
the concession agreement between the Government of Ghana and the consortium of
investors led by the Manila Electric Company (MERALCO) for the private sector
participation in the Ghana Electricity Company.
The arrangement is in the
Second Millennium Challenge Compact, tabled in Parliament by Mr Boakye
Agyarko, Minister of Energy.
million. Emmanuel Kwasi Gyamfi, President of the
Energy Committee, which proposed the committee's report, said that in August
5, 2014, the Republic of Ghana and the United States of America, acting by
the Millennium Challenge Corporation (MCC) entered a Millennium Challenge
Compact
He said that the Compact provides for a subsidy of
$ 498,200,000 to advance economic growth and reduce poverty in Ghana and
engage Ghana and MCC in a five-year economic development agenda
finance investments in Ghana's energy sector.
He said that the program consists of six projects
namely: the financial and operational recovery plan of ECG, aimed at
badets of the company to a private operator to manage the operation of
distribution business, including financing and the acquisition of new investments, or
total or partial deprivation.
million. Agyarko also said that before
entry into office of the BNP administration, the government said that
there must be at least 20% local participation in the Dealer
Consortium.
He stated, however, when he took office,
the current government has led this local participation in the consortium
should not be less than 51 percent, which must be held directly or indirectly
by individuals who are Ghanaian citizens.
He explained that the structure of the shareholding
Manila Electric (Meralco) of the Philippines, 30% of
Aenergia SA, (Angola) 19 percent, Santa Baron in Ghana 13 percent, TG
energy solution in Ghana 18%, GTS engineering Ghana limited to 10%
and TBK Ghana, limited to 10%
M. Agyarko added that
dealer pledges to make critical investments of at least 580 US
million in the first five years to reach the priorities of
the dealership arrangement.
He refuted claims of some members of the minority
that there was no competitive bidding for the project by the consortium.
He said that some of the companies that gave up
out of the race could not accept the Ghanaian majority of the project,
adding that the Government supports the idea that Ghanaians hold a majority stake in
million. Agyarko also argues that MERALCO is a
reputable company, on which the minority can do its own due diligence, and
this, the structure of the shareholding of the consortium can be checked at
Registrar General.
He explained that there are two levels
Millennium Compact Challenge, and that, compact agreement can not be
varied without recourse to the United States Congress, but the concession agreement
is negotiable in the RFP and related documents
M. Haruna Iddrisu, minority leader, his
contribution raised an objection to the request, which he said was not consistent
with the agreement that has been submitted to parliament.
He asked why the petition
they were not included in the report to the House.
"Mr. President, it is important that
Parliament looks at this and exercises its due diligence and value for
money, we better serve the interests of Ghanaians. "
Mr. Iddrisu also stated that by approving this
agreement, the government must accept two key responsibilities, if tomorrow the
Electricity distribution system and ECG employees are worst of the house
must hold people accountable for making this important decision.
He asked for a guarantee of
job security for ECG workers, saying that the country must jealously
protect their job security.
He said that the Chamber should also be informed of
how much each of the consortium partners contributes by means of investments
to the arrangement.
GNA
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