Parliament okays ECG Privatisation Agreement

| Updated Jul 25, 2018 at 10:59am

 

Minister of Energy, Boakye Agyarko

 

Parliament has okayed a Concession Agreement between the Government of Ghana and the Consortium of Investors led by the Manila Electric Company, Meralco for Private Sector Participation in the Electricity Company Of Ghana, ECG.

Chairman of the Energy Committee Emmanuel, Kwasi Gyamfi said Ghana and the United States of America, acting through the Millennium Challenge Corporation (MCC) entered into a Millennium Challenge Compact which among others spelt out the involvement of private players in ECG.

ECG will grant a concession to a private investor or operator to manage the operation of the distribution business, including financing and procuring new investments, or partial or full privatisation.

The Minister of Energy, Boakye Agyarko said the previous Government had stipulated that there must be at least twenty percent local participation in the Concessionaire’s Consortium.

But Government has now directed that local participation in the consortium should not be less than fIfty-one percent.

Minority Leader, Haruna Iddrisu, expressed worry about the procurement process wondering whether the proper legal processes were followed.

gbcghanaonline.com



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