PDS Suspended For Fundamental And Material Breaches

Ghana Government has suspended Power Distribution Service (PDS) Ghana Limited after barely six months of taking over from Electricity Company of Ghana. This news was announced in the late hours of Tuesday, July 30.

In a statement signed by the Information Minister Kojo Oppong Nkrumah, he revealed that ‘’the decision follows the detection of fundamental and material breaches of PDS obligation in the provision pf Payment Securities(Demand Guarantees) for the transaction which have been discovered upon further diligence. The Demand Guarantees were key prerequisites for the lease of assets on 1st March 2019 to secure the assets that were transformed to the concessionaire’’.

Mr. Kojo Nkrumah disclosed on Joy News’ PM Express that the government wants to secure ECG’s assets that were handed to PDS as part of the concession agreement.

The Ofoase Ayeribi MP also disclosed that the Energy Commission has moved to revoke PDS’ distribution license and allow ECG to go back to work while government undertakes full-scale enquiry.

Richard Haruna

Richard Haruna

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