PDS must go; documents not genuine – Report

Must Read

Carlos Ahenkorah’s campaign team member allegedly dead from Covid-19

A campaign team member of the embattled Tema West MP, Carlos Ahenkorah has passed on after allegedly contracting Covid-19. Sources...

Asiedu Nketia promises to take over Sir John’s role in his family

General Secretary of the NDC, Johnson Asiedu Nketia, aka General Mosquito has promised to takeover the family duties of...

NDC ranked number 1 in use of indecent, abusive language on radio

The National Democratic Congress (NDC) has been ranked as the most abusive political party on radio due to the...

Documents intercepted by this paper has revealed that the government may waste no time in abrogating the Power Distribution Services (PDS)/Electricity Company of Ghana (ECG) concession agreement since there is no deal.

ABC NEWS  can authoritatively state that the MiDA Sub Committee Report has affirmed that the Demand Guarantee issued by PDS for the concession transaction was invalid, meaning that there was no transfer in the first place going by the spirit and letter of the Lease and Assignment Agreement.

The documents have revealed that the Forensic Auditors appointed by MiDA to undertake detailed investigations into the authenticity of the documents submitted by PDS could not present the findings to the appointing authority.

The auditors we are told left the country without notice and their prepared report which was expected to have been submitted to the appointing authority is said to be below standard.

Inside sources say there are some facing attempts by the Americans led by the IFC to try to massage the situation and to coerce Ghana to overlook the fundamental breach and gross violation of the Lease and Assignment Agreement, and to let PDS continue its operations and later bring an action against Al Koot.

PDS per the Lease and Assignment Agreement is supposed to manage the operations of ECG for 20 years starting from Friday, March 1, 2019.

However, the Government of Ghana in a statement on Tuesday, July 30, 2019, suspended the PDS/ECG agreement following some contractual breaches.

A commercial insurer and reinsurer, Al Koot, which is based in Qatar wrote a letter to ECG dated July 16, 2019, claiming among other things, that the officer who executed the Guarantees from Al Koot was not authorized to do so and that the guarantees are null and void.

The letter also accused the officer of committing fraud. This major development came to light after ECG subjected the Demand Guarantees to series of due diligence tests.

Despite this development, ECG on August 8, 2019, handed back its operations to PDS to manage. In a joint statement issued by ECG and PDS, the former said it “this is to ensure that there is no disruption of power supply and service delivery to our cherished customers”.

However, some persons familiar with the PDS/ECG agreement say PDS has since taken over the operations of ECG, not lived up to expectations.

They alleged that all the performance statistics put out by PDS are false. They told this paper that ever since PDS took over the operations of ECG, they have sold about GH₵2.6billion worth of electricity but have only managed to collect a little over GH₵300million leaving a debt of over GH₵2billion.

Our sources further revealed that PDS has managed to procure the support of some influential people in the New Patriotic Party (NPP) to bring pressure to bear on the President to allow them to continue their operations.

Source: ABC Newspaper 

Submit your stories or articles to newsroom@abcnewsgh.com or Whatsapp them to +233 553620623

- Advertisement -

Comments

Latest News

[Opinion] Paying tribute to all frontline health workers

The impact of the novel Coronavirus known as COVID-19 particularly the devastating effect it has had on mankind globally...

Frontline health workers angered by Carlos Ahenkorah’s conduct

Some frontline health workers helping the country in the fight against coronavirus have registered their anger over the conduct of Tema West MP, Carlos...

President Akufo-Addo self-isolates after person within his circle tests positive for COVID-19

President Nana Addo Dankwa Akufo-Addo is on a 14-day self-isolation after he got exposed to an infected COVID-19 person. A statement signed by the Information...

It will never happen again – Akuapem Poloo pleads for forgiveness

Popular Ghanaian actress and socialite Rosemond Brown, aka Akuapem Poloo has apologized to Ghanaian for posting a naked picture of herself with her son...

‘Hanging’ Kwabenya electric pole too dangerous for us to work on – ECG

Residents of Aboom-Junction at Kwabenya, a suburb of Accra would have to wait some more for a hanging electrical pole to be fixed as...

More Articles Like This

%d bloggers like this: