Facts contained in the permanent court of arbitration of the United Nations Commission on international trade law tribunal that awarded 170 million dollars judgment debt against Ghana to Ghana Power Generation Company (GPGC) according to National Democratic Congress (NDC) indicates that it is was occasioned by criminal negligence, incompetence, and recklessness of Akufo-Addo government.
The party said their willful recklessness in terminating the GPGC Emergency Power Agreement (EPA) on a contrived and frivolous basis is the reason why Ghana had been slapped with what it described as “avoidable judgment debt.”
Speaking at a news conference in Accra, Sammy Gyemfi, the National Communication Officer of NDC, said after GPGC EPA was terminated and the company appealed to the government to rescind its decision, the Akufo-Addo government acting through the Minister of Energy and his Deputy conceded that the termination was wrong and gave the company several assurances that the President and Cabinet were going to take remedial steps to reinstate the terminated EPA.
Evidence of this fact, the National Communication Officer NDC said was contained in paragraph 486 of the arbitral award, settles the fact that indeed President Akufo-Addo, the Energy Minister at the time, Boakye Agyarko, and the Attorney General are jointly and severally responsible for the USD$ 170 million financial loss to the State.
Sammy Gyemfi said “they knew and acknowledged that they had no basis to terminate the agreement, yet they proceeded to terminate it and failed to remedy same by reinstating the EPA.
What is even sad in all this, is the fact that Ghana is now going to pay a whopping USD$170 million as judgment debt to a private company for a deal that would have caused the nation USD$99.6 million over the four-year duration of the agreement. That is if the agreement had been maintained and not terminated by the Akufo-Addo government.”
Source: Adovor Nutifafa/capitalnewsonline.com
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