GHANA’S PRIVATE power producers have given the government of Ghana a 3-week ultimatum to start paying the accumulated arrears of $1.5 billion or risk a power crisis (dum sor).
The Nana Akufo-Addo led chalatan New Patriotic Party (NPP) administration owes these private power producers close to $1.5 billion accumulated arrears.
These private power producers supply more than fifty percent (50%) of the country’s electricity. But the NPP who claimed the power crisis in the country was rather financial problem under the previous governments, are struggling to defray just nearly $1.5 billion with all the available resources at their disposal.
According to a statement to the government, the private power producers indictated that they are open to discussions to give some flexibility on payment schedules for the government.
Although, they are aware the government has aflicted itself with financial hardship, they still recognise the current cash crunch, but they cannot accept any restructuring of liabilities or haircuts. They say that notwithstanding the serious arrears government owe them, they have kept the lights on for Ghanaians.
These private power producers expressed worry that the “cash waterfall mechanism” that was to ensure equitable distribution of revenues from the sale of power is not working well and they are demanding representation on the governance committee.
It was further noted that the main power retailer – ECG continues to report low collections.
Source: Nationaltymes.com
