Business News of Monday, 11 November 2019Source: Edward BawaEdward Bawa writes: Gov't induced financial threat to energy sector needs urgent budget responseEdward Bawa, MP, Bongo constituencyGhana’s energy sector (power and gas) is confronted with severe financial threats notwithstanding the energy sector levy (ESLA) introduced by the previous administration and bequeathed to the present Government. Indeed, the sector is currently experiencing an unprecedented financial crisis and according to the Energy Sector Recovery Plan (ESRP), as of January 2019, the net sector arrears stood at US$ 2.748 Billion. As a result, the Government of the United States of America has, so far, injected about US$300 million into Ghana’s energy sector. President Mahama recognised the need to implement the reverse flow project to interconnect the West Africa Gas Pipeline and the Ghana Gas Pipeline System in Takoradi. Excess Gas SupplyIn 2019, gas demand was lower than the contracted supply.

Source: GhanaWeb November 11, 2019 08:17 UTC