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29.06.2004 General News

CNT Loan Amendment is an indictment on the Govt

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Accra, June 29, GNA - Mr Edward Doe Adjaho, The Minority Chief Whip, on Tuesday said an Amendment Proposal on the 300 million dollar CNT loan, expected to be brought before the House by the Majority on Wednesday was an indictment on the Government.

He said the Majority should concede defeat and support a rescission motion being sponsored by the Minority instead of seeking for an amendment, Mr Adjaho told the GNA in an interview.

A Private Members' Motion sponsored by the Minority Leader Mr Alban Bagbin and Mr Adjaho, that the House rescinds its decision on the April 13 approval of a loan agreement between the Government and the CNT Group Holdings Limited and CNT Construction for an amount of 300 million dollars, is also expected to be considered on the same Wednesday.

The Majority, led by the Majority Leader Mr Felix Owusu Adjapong, Deputy Majority Leader; Mr Abraham Ossei-Aidoo and Majority Chief Whip, Mr Osei-Kyei Mensah Bonsu, are sponsoring the Amendment Proposal. The amendment motion says that further to the approval of the loan agreement between the Government and CNT, "this Honourable House calls on government to take note of the general concerns expressed on the matter and undertake deeper due diligence and Value for Money Audit in respect of the loan to safeguard national interest."

Mr Adjaho said the very fact the Majority was bringing an amendment seeking that deeper due diligence was to be now undertaken by Government meant the Government did a shoddy work in the first instance. "Do you approve a loan before due diligence?" the Member questioned.

Mr Adjaho said he did not know the Minority's position on the Amendment Proposal being brought to the House because he had not spoken to Mr Bagbin.

He said the Majority last week informed the Minority that they were bringing an Amendment Motion to the CNT loan. Mr Adjaho, however, said they were going ahead with their rescission motion.