Parliamentary stand-off affecting completion of debt restructuring agreement with IPPs – Finance Minister
“We concluded negotiations with the Independent Power Producers and some of them have signed off. For example, AKSA has signed off, and Asogli and Zenit are also about to sign off, what is outstanding is the one with Cen Power and Amandi because those two PPAs are required to go to parliament for parliamentary approval.”
Minister of Finance, Dr. Mohammed Amin Adam, stated that the current parliamentary impasse has affected the debt restructuring agreement with some Independent Power Producers (IPPs).
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Addressing the press during the finance ministry’s monthly economic briefing, Dr Amin Adam pointed out that although three of the IPPs have either signed or are on course to sign, two other power producer agreements have stalled due to the current holdup in parliament.
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He pointed out that the agreements between the two, Cen Power and Amandi, require parliament’s approval.
This, the Member of Parliament for Karaga constituency believes has stalled critical government business.
“We concluded negotiations with the Independent Power Producers and some of them have signed off. For example, AKSA has signed off, and Asogli and Zenit are also about to sign off, what is outstanding is the one with Cen Power and Amandi because those two PPAs are required to go to parliament for parliamentary approval.”
“We all know the story with parliament. Until parliament returns and approves those two PPAs they will remain outstanding”, he added.
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Parliament has been adjourned indefinitely after the Majority filed a suit in protest of the Speaker of Parliament’s ruling to declare some four seats vacant.
Regardless of the situation, Dr Amin Adam insists the government has undertaken its side of the bargain.
“Meanwhile, for government, we have met our side of the obligation”, he stressed.
He emphasised the government’s commitment to ensure the completion of the agreement, adding “We have done everything, we haven’t missed a dollar.”
“While we wait for parliament to approve those restructuring PPAs, I can say that we have been very religious with our side of the bargain”, he said.
Although the agreement with the IPPs comes as good news after the various power producers threatened to shut down amidst issues of unpaid debts, the current situation in parliament appears not to support this cause.
Source: myjoyonline.com
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