Home Business Another $55 million Judgement Debt Looms On GoG

Another $55 million Judgement Debt Looms On GoG

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Kofi Bentil, Vice President, IMANI Centre for Policy and Education

The Ghanaian Government is about to suffer another judgement debt to a Chinese company Beijing Everyway due to an expected case to be filed at the London Court of International Arbitration.

The case is in relation to Ghana and Beijing Everyway to handle the Accra Intelligent Traffic Management Project which is alleged to be wrongfully breached by the Ghanaian government.

“The issue of this contract is not that it has been cancelled. It is that it has been rewarded improperly and some people with their eyes open did it in such a way that Ghana now has the liability and we are likely to face that $55 million debt,” the Vice President of IMANI Centre for Policy and Education, Kofi Bentil disclosed on JoyFM Newsfile over the weekend.

According to him, the current case could have been avoided if leadership had handled this issue in a way that could not have resulted in the huge amount involved.

“It is my patriotic duty not to tell everybody that we will win, but to warn everybody and tell them that what we have done is wrong and these people are likely to win. If they win, we will lose 55 million dollars,” he stated.

Mr. Bentil also asked that Parliament intervene to safe the situation adding that the Accra Intelligent Traffic Management project has not been totally rubbed off.

IMANI’s Vice President pointed out that “I think Parliament now can do something to save this country the 55 million dollars,” adding that “anybody who looks at this arbitration knows that Ghana is going to lose, so we should really, really take a very serious view on it.”

He further disclosed that “I have sighted warnings from the Vice President’s office suggesting that we should not do this. There were warnings from the Attorney-General’s department that we should watch this, and many others.”

Media reports recently had it that an arbitration tribunal has ordered the government of Ghana (GoG) to pay $137.9million to Ghana Power Generation Company (GPGC), an independent power producer (IPP), for terminating a power purchase agreement (PPA) between the two parties in 2018.

Out of the amount, $134,348,661 represents early termination payment claim, which in itself is made up of $69,361,680 as early termination fee, $58,492,005.562 for mobilisation cost, $6,462,528 as demobilisation cost and $32,448 as preservation and maintenance cost.

By: Isaac Dzidzoamenu/capitalnewsonline.com

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