General News of Wednesday, 3 May 2017Source: citifmonline.comGovernment's ECG concession review arrangements better – ISODECDr. Steve Manteaw, Campaign Coordinator for ISODECThe Integrated Social Development Centre (ISODEC), has said that the government’s decision to review portions of the Electricity Company of Ghana’s (ECG) concession agreement under the Power Compact II arrangement, makes the deal better than it was under the erstwhile National Democratic Congress (NDC) government. According to the Center, although it would have wished to see a more drastic review, the change, although minor, will protect the interest of ECG workers. But Nana Akufo-Addo said, “Government has amended the terms of the concession agreement to require that one; Ghanaians own at least 51 percent of the concession. The Ghana Power Compact would provide Ghana with a grant of four hundred and ninety-eight million, two hundred thousand United States Dollars (US$498,200,000) to improve the performance of Ghana’s power sector, unlock the country’s economic potential, create jobs, and reduce poverty. About US$350 million of the grant is being invested in ECG to make the country’s power distributor operationally and financially more efficient.

Source: GhanaWeb May 03, 2017 05:48 UTC