Botched PDS Deal: The Cat Is Out Of The Sack

Dr E.K.Hayford The Caucus for Democratic Governance, Ghana (CDG–GH), has observed with shock, the flaws, corruption and manipulations leading to the termination of the PDS agreement which is crippling the energy sector in Nana Addo`s Government.

A careful review of the letter of termination of the PDS concession agreement by Ken Ofori Atta leads to the following revelations:

Government of Ghana (GoG) was forced to terminate the PDS agreement by midnight October 18.2019. This is because failure to terminate the agreement by midnight October 18, 2019 would have resulted in the issuance of a de-obligation letter by the MCC team which would effectively end the Compact

To obliterate the truth, the Ministry of Information tells the Ghanaian public that GoG terminated the PDS concession agreement to safeguard and protect the strategic assets of Ghana. It was also to project the Nana Addo/ NPP as a listening Government. This was to win cheap popularity and misinform the public.

With the above strategy, Kojo Oppong Nkrumah was to hide the truth from Ghanaians that the deal went bad and they lost it all because of inordinate greed.

The obvious omission of a statement on the contribution of funds by shareholders of PDS, amounts to a tacit admission of the critique from opposition, that the owner of PDS (who were cash trapped) did not invest a pesewa in the concession, even though they were required to invest $500 million. Worse still, they increased the electricity bills to their advantage.

NDC`s position has been vindicated, that the PDS deal was a fraudulent scam, concocted to enrich Nana Addo, his friends and family.

The NDC must vociferously and forcefully reject the recommendation by Ken Ofori-Atta of a restricted tendering to replace PDS with another entity.

The restricted tendering could allow GoG to complete transaction and replace PDS with another entity by December 31, 2019 to meet the requirements of the MCC. Nana Addo`s government however understands this as an avenue to commit additional fraud and corruption to enrich himself, his friends, family and cronies.

For the NDC, the right way is to increase Ghanaian private participation, in the concession and compact. We therefore recommend the issuance of an IPO to list ECG on the Ghana Stock Exchange. Ghanaians must be given the opportunity to own a piece of the strategic assets, that they depend on for their personal and business use. They deserve it. We assure Ghanaians that the government of JM/NDC […]

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