"We smell a rat" in renegotiated Ameri, Karpowership deals- Minority NDC MPs'

The Minority National Democratic Congress, (NDC) Members on Mines and Energy Committee in Parliament have.

kicked against the Renegotiated/Novation Agreement before parliament describing it as bad deal as they suspected.

Government of under hand dealings.

The Minority, side led by MP for Yapei/Kusawgu and former Deputy Minister for.

Power, John Jinapor at a news conference in Parliament noted that the proposed “Agreement is.

nothing but complete rip-off and an attempt at rent-seeking by persons in high places”.

According to him, “the Minority in Parliament finds as scandalous, the attempt by.

President Akufo-Addo to introduce a third party, Mytilineos International Trading Company to assume ownership of.

the power plant at a proposed Capacity charge of 3.

8052 US Cents/KWh for an extended 15-year period at a cost of $1.

035 billion, when we are left with just two and a half years for the.

Government to take complete ownership of the power plant”.

He said, “it’s worth recalling at this point, that the NPP’s whole politicking.

around this matter in opposition was premised on a dubious claim that the original transaction.

should not have cost more than $ 360 million.

Today, they have signed a deal that costs $ 1.

035 billion which is over $800 million more than the very figure they bandied about”.

Mr.

Jinapor mentioned that, “the Agreement with Mytilineos international is full of padded, inflated and contrived.

Miscellaneous figures which clearly reveal that the new deals fit into a grand scheme orchestrated.

at the very highest echelons of government to Create, Loot and Share the spoils of.

those new Agreements”.

“A Careful financial analysis of the novated agreement as it stands, shows that.

it offers an overly generous Rate of Return (RoR) of 68% as against 17.

9% in the original AMERl agreement as validated by pwc in their Value for money.

report on the original Ameri deal.

This represents a 370% improvement in the financial returns to the new entity, Mytilineos.

Even more disturbing is the attempt by this Government to stampede Parliament into approving this.

poorly negotiated agreement under a certificate of urgency when the house was just about going.

on break.

Government officials must really be in an indecent hurry to achieve their aim of sharing.

the spoils of this deal.

So much was the hurry, that thorough Cabinet consideration and approval was supplanted by ”Executive.

Approval” from President Akufo Adda himself”.

On matters related to The Karpowership Agreement The Minority raised “yet another scandalous.

and corruption-ridden agreement being renegotiated by this same Energy Ministry under the 450MW Karpowership Agreement”.

This renegotiated agreement is worse than the AMERI Novation Agreement presented to Parliament.

by The Sector Minister, Boakye Agyarko, John Jinapor stated and added that, indeed, the renegotiated.

KARPOWERSHIP Agreement stinks to the heavens with big fishes in Government superintending the looting of.

the state under this new deal”.

"YES.

YOU heard me right, the renegotiated KARPOWERSHIP Agreement was poorly negotiated and fraught with inflated.

and padded figures, The Minority will soon engage the Ghanaian public on this deal.

" he declared.

They therefore, called on the government to suspend the deals and do proper.

and broad consultation before any approval, "we therefore, call on Government as a matter of.

urgency and in the supreme national interest suspend these deals and make the details available.

for broader public scrutiny”.

Story by Edzorna Francis Mensah


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