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03.07.2003 Business & Finance

GWCL loses six billion

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Kumasi, July 3, GNA -

The Ghana Water Company Limited (GWCL) has launched a special operation to clear off the cash flow deficit of six billion cedis each month, which had plaqued the company since the beginning of the year. Code named "operation clear the deficit", the exercise which begins in July this year, aimed at reducing the six billion cedis a month deficit to zero by the end of March 2004. Mr S.G.O. Lamptey, acting Managing Director of the company, announced this in a speech read for him at a seminar to review the GWCL/Ghana Post collection agreement in Kumasi on Thursday.

The two-day seminar will also evaluate the collection agreement between the two companies and review the phase one of the special revenue mobilisation exercise embarked upon by the company in January, this year. Mr Lamptey said the deficit, which was due to low revenue collections each month, had been a source of worry to the board of the company, government and the general public. He said in order to achieve the targets set in the special exercise, steps were being taken to restructure and overhaul the commercial department from the head office to the district levels. Mr Lamptey said vehicles and other logistics would also be provided to the department to ensure effective monitoring and supervision of field officers.

He deplored the attitude of some field officers who colluded with customers to cheat the company and said management was working out appropriate sanctions for all known offences committed by field staff and would be applied when anyone was caught. Mr Lamptey appealed to commercial managers to ensure strict supervision of their subordinates to ensure efficient performance and increased revenue mobilisation for the company.

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