Energy Sector debts to be paid within 5 years – Government

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Cabinet is expected to approve an Energy Sector Reform document that per its recommendations will force the country to within 5 years pay its Energy Sector debts.

Head of Delivery Unit at the Office of the Vice President and a member of the Energy Sector Reform Committee Prof Kwaku Appiah-Adu, said the reform will among other things punish officials whose actions will lead to contracts in the sector that affects the country.

The reform committee believes the move will help reduce debts in the sector.

The energy sector debts which hit about 2.4 billion dollars is one of government’s major challenges as it affects most part of the economy.

Although successive governments have defrayed some of the debts, Prof Kwaku Appiah-Adu said: “It’s the rules and regulations that need to be followed and a technocrat or somebody has signed an agreement which really shouldn’t have been signed, because you if look at what we have in place, already we have excess capacity there is no need for us to sign any new agreement, who advised what, were the figures at the time they signed, so all we are saying is that the rules and regulations that guide the signing of such agreements should be looked at vis-à-vis the agreement that has been signed and if anyone has flouted a rule then the laws of the nation have to apply that’s all we are saying we keep it nice and simple then the details will be implemented of course by the law court and any other committees that are put is together to come up with specific recommendations as to what penalties that will be meted out.”

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