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14.05.2004 General News

Saloon Loan Saga: Asaga Under Fire

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Investigations conducted by the INDEPENDENT into the circumstances surrounding the $300 million China New Techniques Construction and Investment (CNTCI) Ltd. which has been described by some NDC bigwigs as 'drug' or 'laundered' money was laid before Parliament with the active participation and contribution of NDC MPs.

According to the INDEPENDENT, the report of the Finance Committee of Parliament was laid before Parliament on April 13, 2004 by the Chairman of that Committee and was seconded by the NDC Member of Parliament for Nabdam, Hon. Moses Asaga.

The paper said, Hon. Asaga's words in seconding the Report on the $300 million loan is captured thus “Mr. Speaker, I rise to second the report presented by the Chairman and then I would want to make a few comments on this particular loan being contracted by the Ghana Government with CNT Group Holdings Limited. Mr. Speaker, I think that we have come a long way since we had a problem with the IFC loan. A lot of the experience in loan agreements that we brought to bear on the IFC loan have now yielded results. I am therefore not surprised that the loan agreement that was laid before your good self was one that had credibility and professionalism. I am taking this opportunity therefore to say that anytime we are critical on issues, it is not for the sake of criticism but improve the way we do Government business”.

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