[ 2016-11-23 ]

Blame govt for VRA’s huge debts – Nduom
The government of Ghana should be held responsible
for the huge debts incurred by state power
producer Volta River Authority (VRA), Dr Papa
Kwesi Nduom, presidential candidate of the
Progressive People’s Party (PPP), has said.

The VRA owes about 14 banks to the tune of $3.7
billion and is also indebted to N-Gas by $166
million while Ghana Gas is owed a total of 246
million dollars.

Talking about the VRA’s debts and what he will
do to tackle the issue during the Institute of
Economic Affairs (IEA) Presidential Debate on
Tuesday November 22, Dr Nduom said: “The
question we need to ask is how that debt came
about? Because VRA was not always in debt. When
VRA was exporting power, VRA was making money, but
when the exportation of power ceased, what
happened was now the power was being sent to ECG.

“ECG was distributing power and government as
the biggest consumer was not paying them, so ECG
is also owing VRA and so it is not the
inefficiency of VRA that has caused the problem.
We must understand the source of the problem if we
are going to solve it. So, if it is indeed this
same government that has put that problem, then we
must find a way to take that problem off the table
of VRA and solve it. So, we need to find a good
financial solution that will not overburden the
consumer once again."

He added: “So this is the huge issue on the
energy sector that must be solved and it will not
be solved with a political solution. Those
professional politicians must step aside and
let’s get financial experts and the technical
experts to get together to figure out how to solve
that problem and the right kind of leadership on
top to ensure that no politician interferes,
nobody who wants unnecessary money without
sweating for it gets close to the action, and so
we find a solution.

“I believe that that solution to VRA debt can be
found. I have been there before and I know that it
can be done.”

Source - Classfmonline

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