28.9 C
New York
June 26, 2019
The Republic
  • Home
  • News
  • GHC 8 billion fresh Debt added to Energy Sector-Mahama
Business News

GHC 8 billion fresh Debt added to Energy Sector-Mahama

Ex-President John Dramani Mahama has alleged that the Akufo Addo administration has added over GHC 3 billion fresh debt to the energy sector since assuming power in 2017.
Out of this debt, he said the Ghana Grid Management Company (GRIDCO) had racked up a whopping GHC 500 million in what is likely linked to the ongoing erratic power supply being experienced by the country.

They [NPP] has accumulated fresh debt: .GRIDCO had made almost 500 million debt they owe to generating companies because they are not generating enough money to pay for the cost of power, Mr. Mahama stated.
Ex-President Mahama made this allegation when he granted an interview to Citi FM Point Blank crew on Monday, May 20, 2019.
In the Interview, Mr. Mahama recounted how he inherited a power crisis during his tenure and how he solved it,It was not my fault that there was an energy crisis, it was a leadership problem I was the commander in Chief, I was responsible I take the blame and I am not going to blame anybody for it. By 2016, lights were stable before I handed over [to the NPP].
Dumsor had been solved, we had solved the problem he said recounting how the previous administration had failed to anticipate the power demands of the country and therefore was unable to match it with a requisite expansion of energy infrastructure.
According to the ex-President who is seeking a comeback on the ticket of the main opposition National Democratic Congress, by the time he left office in 2016, his administration had sorted out the legacy debt in the energy sector and had negotiated with the private sector for an escrow arrangement for the energy sector to generate money to pay the debt and not accumulate fresh debt.

Mr. Mahama wondered why the NPP administration keep blaming his erstwhile administration for the difficulties it is currently facing, If you are in your third year and you keep blaming the previous government, then you need to start preparing your handing-over notes, he told Point Blank.

Source: therepublinewsonlline.com/ David Tamakloe

Related posts

NDC must Mobilize to rescue Ghana from NPP’s misrule-Kobby WOYOME

Felix Nyaaba

Retired Journalist authored book in Honour of 50 Distinguish Ghanaian Women

Felix Nyaaba

Alhaji Sinare shared his Vision with NDC Regional Women

Felix Nyaaba

Leave a Comment