The Ranking Member on Parliament’s Mines and Energy Committee, John Abdulai Jinapor has predicted doom for the economy should the incumbent government fail to address the recent energy challenges.
According to him, the “struggling” state of the economy owing to Covid-19 indicates that the Akufo-Addo government cannot afford to be hit by another crisis.
“The impact of yet another energy crisis can have dire consequences on the already struggling debt ridden, Covid-19 economy under President Akufo-Addo,” he said.
Addressing the press Wednesday, on the recent erratic and unreliable power experienced in major parts of the country, Mr Jinapor revealed that despite several assurances from Energy Minister, Matthew Opoku Prempeh to tackle the issue, matters on the ground prove otherwise.
The “obnoxious double-track system which has been exported to the power sector” he says is evidence of government’s inability to resolve the challenge.
He, therefore, presented a ten-point recommendation drafted by the Minority to help the incumbent administration address the energy sector challenges.
He pointed government’s interference in the energy sector management as a challenge, hence advised government to refrain from engaging in political appointments especially within middle management levels when vacancies are declared.
Also, the former Deputy Energy Minister entreated government to inject the needed capital into the power sector and cut down on wasteful expenditure.
Still on financing, he added: “The Ministry of Energy must conduct a comprehensive reconciliation of the total indebtedness of all players including government and its SOEs including (GNPC, GNGC, VRA, GRIDCo, CENIT, ECG, NEDCo) in a transparent manner.
“The Ministry of Finance must take steps to utilize the $1 billion sovereign bond borrowed in 2020 to address the financial challenges of the Energy sector.
"Government must ensure that Energy sector SOEs Publish details of their financial statements including details and ageing of their indebtedness as well as debts owed to them on time."
Latest Stories
-
CHAN 2024Q: Ghana’s Black Galaxies held by Nigeria in first-leg tie
56 minutes -
Dr Nduom hopeful defunct GN bank will be restored under Mahama administration
2 hours -
Bridget Bonnie celebrates NDC Victory, champions hope for women and youth
2 hours -
Shamima Muslim urges youth to lead Ghana’s renewal at 18Plus4NDC anniversary
3 hours -
Akufo-Addo condemns post-election violence, blames NDC
3 hours -
DAMC, Free Food Company, to distribute 10,000 packs of food to street kids
4 hours -
Kwame Boafo Akuffo: Court ruling on re-collation flawed
4 hours -
Samuel Yaw Adusei: The strategist behind NDC’s electoral security in Ashanti region
4 hours -
I’m confident posterity will judge my performance well – Akufo-Addo
5 hours -
Syria’s minorities seek security as country charts new future
5 hours -
Prof. Nana Aba Appiah Amfo re-appointed as Vice-Chancellor of the University of Ghana
5 hours -
German police probe market attack security and warnings
5 hours -
Grief and anger in Magdeburg after Christmas market attack
5 hours -
Baltasar Coin becomes first Ghanaian meme coin to hit DEX Screener at $100K market cap
6 hours -
EC blames re-collation of disputed results on widespread lawlessness by party supporters
6 hours