Gov’t suspends PDS contract
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The Government of Ghana has suspended the concession agreement with Power Distribution Services (PDS) Ghana Limited with immediate effect.
According to a statement issued by the Information Minister, the decision followed the detection of fundamental and material breaches of PDS’ obligation in the provision of the Payment Securities (Demand Guarantees) for the transaction which have been discovered upon further due diligence.
“The Demand Guarantees were key prerequisites for the lease of assets on 1st March, 2019 to secure the assets that were transferred to the concessionaire,” the statement said.
It said Government was conducting a full enquiry into the matter and that the outcome would inform the next course of action.
Government press release below;
Author: Melvin Tarlue
ABOUT: Nana Kwesi Coomson
[email protected] An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.
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