Prosecute officials responsible for the GPGC Judgement debt - John Jinapoh
The NDC Member of Parliament for Yiepe/Kusawgu Constituency told that Minister Boakye Agyarko decided to rush to terminate the GPGC by a letter dated 13th March 2018, rather than apologising for his reckless decision which has led to this huge financial loss to the state.
The NDC Member of Parliament for Yiepe/Kusawgu Constituency and a Member of Mines and Energy committee in Parliament, John Abdulai Jinapoh has said, the minority has noted with grave concern a ruling by the International Court of Arbitration against the Government of Ghana over the termination of an Emergency Power Agreement with the Ghana Power Generation Company (GPGC) Limited.
According to Mr Jinapoh, the ruling further ordered the government of Ghana to pay the full value of the early Termination in the amount of USS 134,34 8,661 as well as the accrued interest of $30,000,000. The Government of Ghana has been ordered to pay other related costs of USS 3,309,877.74 at the rate of LIBOR for three-month US dollar deposits, compounded quarterly.
He said, the minority equally note that the haste with which the former Minister of Energy, Mr Boakye Agyarko terminated this particular agreement against expert advice especially from the PPA committee is largely responsible for this embarrassing ruling which has dented the image of Ghana internationally.
Mr Abdulai Jinapoh did indicate in paragraph 492 of the 194 page ruling of the ICA confirms that the state could have opted for a negotiated settlement which would have resulted in a settlement cost of not more than $18.000,000 to the Republic of Ghana.
He added that on the contrary Minister Boakye Agyarko decided to rush to terminate the agreement by a letter dated 13th March 2018, rather than apologising for his reckless decision which has led to this huge financial loss to the state, Mr Agyarko has sought to justify his actions under the guise of a so-called cabinet memo.
The MP went on to say, the so-called advised from the cabinet is did not do any good to Ghana and must not be an option if such a decision would bring huge judgement debt to increase the hardship and huge debt on the good people of Ghana to pay.
Mr Jinapoh further urged the government to do something immediately to reduce the price of fuel in order to bring some relief to Ghanaians.
He said the price of fuel in recent times has been increased a number of times soon after the general elections.
Alhaji John Abdulai Jinapoh finally added that failure on the part of government to reduce the price of fuel would cause some transport operators to increase their fares for passengers in order to recover the extra money paid on fuel and that would affect the pocket of the ordinary Ghanaian.
EK Ansah, parliament House