PDS Scandal: It Is An International Embarrassment – John Jinapor
Member of Parliament for Yapei Kusawgu constituency, former deputy Energy Minister and Minority Spokesperson on Energy, John Jinapor has described the termination of PDS contract by the government as an international embarrassment of monumental proportion.
He says the government has no shame to even publicly announce that they have canceled the PDS deal.
Speaking on Okay FM’s 'Ade Akye Abia' program, he explained that the warning signs were clear but the government refused to listen.
"The government owe the people of Ghana loads of explanation on the termination of the contract and the way forward about this whole PDS brouhaha," he said.
"Let me also tell you that the board of Directors of PDS are planning to go to court on the termination of their contract."
"The government has embarrassed Ghana internationally and has also caused Ghanaians international ridicule," he added.
Though the government has publicly announced the termination of the PDS deal, they have not officially informed the Directors of PDS.
A formal announcement of the decision is expected in the coming days. A termination brings to an end, PDS’ short-lived control of the country’s electricity supply.
The company was engaged in March but since its suspension on July 30, PDS had been embroiled in a corporate governance tussle among the shareholders.
A Ghanaian local consortium holds 51% of the shares while the remaining 49% shares are for two foreign companies; Manila Electric Company Limited (Meralco), a Filipino company with 30% shares and Aenergia, an Angolan company with 19%.
Foreign player, Meralco offloaded its shares to Meridian Power Ventures Ltd, a letter to a key transaction advisor, the US-backed Millenium Development Authority (MiDA) confirmed.
The opposition NDC sees the offloading of Meralco’s shares as evidence of clandestine attempts by the government to loot the assets of Electricity Company of Ghana taken over by PDS.
PDS was suspended after the government said it suspected the agreement was tainted with fraud.
<<Print>>