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27.11.2003 Business & Finance

Govt Reviews VALCO Agreement

By JOY FM
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Government says it is reviewing agreements the former NDC government negotiated with VALCO. The review is taking into account the fact that electricity supply in Ghana has changed from cheap hydro sources to thermal and other sources, which are substantially more expensive than hydropower.

The announcement is in response to allegations made by the NDC’s Presidential candidate Prof. Evans Atta-Mills that the NPP Administration refused to ratify the renegotiated VALCO Agreement, which has allegedly cost Ghana and the Volta River Authority 30.4 million dollars.

Information Minister Nana Akomea made the announcement at a press conference called to respond to allegations leveled against the NPP administration by the former Vice President.

Prof catalogued a list of sins committed by the NPP administration a month ago at a press conference. The allegations centered on perceived corruption, the administration’s failure to strengthen anti-corruption agencies, some charges of impunity against President Kufour and what he described as selective justice under the NPP government.

But the Information Minister said the allegations are unsubstantiated. According to Nana Akomea, Prof. Mills’ pronouncements on the anti-corruption agencies attacked the personality of the Auditor-General, and compromised government by suggesting that the Auditor General was awarded a hefty salary of ¢ 75 million.

He explained that the money paid was part of 252.7 million cedi arrears for his two years in acting capacity as Auditor-General. According to him, the Auditor General asked to be paid ¢100 million. But he was paid 75 million cedis with a balance to be paid by the state.

On delays of the Auditor General’s report mentioned by the former Vice President, Nana Akomea said concerted efforts by the NPP government ensured that reports on the consolidated fund and the foreign exchange receipts and payments which were in arrears since 1996 and 1998 are now current up to 2001.

He also urged Professor Mills to blame any perceived lapses on the part of the Serious Fraud Office, to the law that the NDC passed to establish the institution.

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