Government through the ‘Ministry of Finance and the Electricity Company of Ghana (ECG) Limited has suspended the concession agreement with Power Distribution Services (PDS) Ghana Limited with immediate effect.
The decision to terminate the contract with PDS according to a statement issued and signed by the Minister for Information, Kojo Oppong Nkrumah is a result of the detection of fundamental and material breaches of PDS’ obligation in the provision of Payment Securities (Demand Guarantees) for the transaction which has been discovered upon further due diligence.
The statement added that government was conducting a full scale enquiry into the matter after which the next line of action will be taken.
Read the full statement below:
Source: BestNewsGH.com
