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24.10.2019 Politics

PDS Deal Termination Was Needless — Mahama

Former President John Dramani Mahama
LISTEN OCT 24, 2019
Former President John Dramani Mahama

Former President John Dramani Mahama says government’s decision to terminate the power concession agreement with Power Distribution Services (PDS) was needless.

He explained that the termination of the deal was unnecessary because it has caused Ghana to lose much needed financial support to the power sector.

“This [termination of the deal] has caused the MCC to withdraw a hundred and ninety million dollars of the funding amount. It’s a sad day for us,” he said.

He stated that the money was meant to improve the efficiency of Ghana’s electricity utility corporation, the Electricity Company of Ghana (ECG), but has been lost due to a decision he described as self-serving.

“Let me emphasise that this shady happening could have been avoided if the right decisions were taken”, he added.

Speaking at the manifesto inauguration of the NDC, he expressed disappointment in the Nana Akufo-Addo government for allowing the country to run at such a loss.

Ghana lost a $190 million granted by its US partners as part of a power concession agreement. The loss came after Ghana decided to terminate its contract with PDS.

The US embassy, however, stated that the Millennium Challenge Corporation (MCC) confirmed that the money was no longer available after Ghana decided to terminate the concession agreement.

The NDC flag-bearer also stated that the PDS deal is not only loss the country has suffered. He explains that the country over time has descended into economic hardship, citing the increase in prices of fuel and utilities as examples.

“Economic redemption has turned out to be an economic disaster for Ghanaians,” he stated.

He assured Ghanaians that he will restore hopes of Ghanaians in 2020 if power is restored to him.


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