[ 2017-05-01 ]

President Nana Addo Dankwa Akufo-Addo

No layoffs in ECG privatisation – Akufo-Addo
President Nana Akufo-Addo has indicated that the
country is committed to reviewing the Private
Sector Participation (PSP) compact of the
Electricity Company of Ghana (ECG) with the
Millennium Challenge Corporation (MCC) to ensure
51 per cent local ownership.

The president noted that government was concerned
as the workers of ECG that the reforms should not
lead to involuntary job losses. Additionally, the
reforms should be geared towards a long term
solution to the country’s electricity problem.

“Government has amended the terms of the
concession agreement to require that one,
Ghanaians own at least 51 percent of the
concession. Two, there should be no involuntary
layoffs as a result of the concession,” Mr
Akufo-Addo said as he addressed workers at the
celebration of May Day in Accra.

Mr Akufo-Addo, concerned about the period of
concession, emphasised that the review would
ensure that “the term of the concession will be
reduced from 25 years to 20 years”.

He expressed confidence that “these amendments
meet the aspiration of Ghanaians in protecting the
jobs of workers and ensuring the control and
viability of ECG”.

Source - classfmonline.com

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