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Privatize more than 50% of ECG - IMANI Boss

By Adomonline.com
Business & Finance Privatize more than 50 of ECG - IMANI Boss
DEC 16, 2014 LISTEN

Founding President and Chief Executive Officer (CEO) of policy think tank, IMANI Ghana, Franklin Cudjoe has called for the privatization of majority shares of power distribution company, Electricity Company of Ghana (ECG).

Mr Cudjoe, analyzing Ghana's Economic performance in 2014 said the fluctuations in power in the country was the bane of the country's economy in the year 2014.

He said on  Adom Fm's "Burning Issues"  that the situation has led to the collapse of many industries in the country which affected the country's greater economic output.

“Let private people come to the country and manage the energy sector and business would boom…,” he said.

He thus recommended, as the solution to the current energy crisis, the privitisation of about 80% of ECG to allow consistent supply of energy.

"It is not always the times that we have to criticize government, let's accept it, privatize 80-90% of ECG and everything would be fine...," he said.

Franklin Cudjoe continued that private sector participation in the energy sector would go a long way to help Ghana overcome the problem due to the competition that may arise from that.

Answering questions as to whether Ghanaians can pay realistic tariffs for the energy they consume, the head of the Think Tank that has constantly been in check of Government and its policies said Ghanaians would appreciate a constant supply of power that costs rather than fluctuations in power at a minimized cost.

To him, until the country privatizes ECG, it should be prepared for more doom in the energy sector in 2015.

Projecting into Ghana's economic future, Franklin Cudjoe called for greater fiscal discipline to help solve the problems of this country which he said 'does not defile science.'

Government, he said, should also be more proactive to minimizing cost and this, he suggested can be done if government seeks to make use of technology.

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