Mahama Will Prosecute PDS ‘Fraudsters’ – Sammy Gyamfi

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Opposition NDC is demanding the prosecution of persons implicated in the ECG-PDS concession deal almost a year after cancellation of the agreement.

The party says although Energy Minister John Peter Amewu publicly admitted that PDS was fraud committed on the country, no individual has been brought to book.

According to the NDC, the country has lost about a billion dollars as a result of the cancellation of the power compact agreement with the US.

National Communication officer of the party Sammy Gyamfi told a news conference in Accra that the NDC will prosecute all those involved in the alleged scandal should they win the December polls.

“The next NDC Mahama administration will ensure the arrest and criminal prosecution of all persons who directly or indirectly played roles in this stinking PDS scam and several corruption scandals we have witnesses under President Akufo-Addo.

Background

Government in August lasy year suspended the PDS Concession and Information Minister, Kojo Oppong Nkrumah, announced to journalists that within 30-days, a fact-finding Committee set up by Government would come out with its findings on the alleged breeches of the power concession by PDS.

The Committee is yet to come out with its findings since then.

The Millennium Challenge Compact (the Compact) was signed on August 4, 2014 between the MCC acting on behalf of the Government of the United States. and the Government of Ghana acting through the Finance Minister.

A key condition under the private sector arrangement was to introduce a concessionaire into the distribution sector, who would inject private capital into the operations of the Electricity Company of Ghana.

The two key advisors to the managers of the Compact, the Millennium Development Authority (MiDA), were the International Finance Corporation (IFC) and Hunton and Williams, an international law firm based in New York.

Through an international competitive tender, Meralco of the Philippines was selected as the concessionaire, the document recounts.

In order to satisfy the local content requirement under the transaction, a special purpose vehicle, Power Distribution Services, was incorporated in Ghana to be the operator, with PDS shareholding being Meralco (Philippines) 30 percent shares; AEnergia S.A. (Angola) 19 percent shares; GTS Engineering Services of Ghana, Santa Baron Ventures of Ghana and TG Energy of Ghana – together 51 percent shares.

By: Starr FM