Energy Minister John Jinapor has categorically denied rumors that the government is planning to sell the state-owned power distributor, Electricity Company of Ghana (ECG). Apexnewsgh reports
Speaking to the media during a working visit to the West African Gas Pipeline Company Station in Tema, Jinapor emphasized that ECG is not up for sale, but rather, the government is seeking private sector participation to enhance efficiency and financial sustainability.
Jinapor clarified that the government’s goal is to improve ECG’s performance by reducing losses, increasing revenue, and ensuring the company can pay its bills. He lamented that the energy sector’s inefficiencies have resulted in financial strain, with resources meant for development projects being redirected to settle debts owed to energy suppliers, such as the West African Gas Pipeline Company (WAPCo) and N-Gas.
The Minister cited a specific example, where the government had to allocate $75 million to pay N-Gas, funds that could have been used for other development projects, such as roads, hospitals, and infrastructure development. Jinapor reiterated the government’s commitment to reforming the energy sector, ensuring its sustainability without compromising public interest.
The debate over ECG’s future comes at a critical time, as Ghana faces challenges in the energy sector, including concerns over debts and financial viability.
By involving the private sector, the government aims to create a more efficient and financially sustainable energy sector, ultimately benefiting the nation.
Source: Apexnewsgh.com
