We subjected ECG take-over by PDS to careful scrutiny – MiDA

The Millennium Development Authority (MiDA) has absorbed itself from any blame over the suspension of the Power Distribution Services (PDS) Ghana Limited concession agreement.

A statement issued by the Communication and Outreach Unit of MiDA and copied to the Ghana News Agency in Accra, said it subjected the Electricity Company of Ghana (ECG) Private Sector Participation (PSP) transaction process by PDS, to careful scrutiny and various stakeholder approvals.

It said several documents submitted for the ECG’s distribution and assets handover to PDS was clarified and scrutinized, as required for the transaction process.

“In line with best practice in International Business Transactions, all documents submitted as part of the transaction were accepted on the basis of good faith and the presumption in law as to their validity,” it said.

It said while the current development is an unfortunate setback to the progress of the Concession, MiDA welcome investigations into the matter.

MiDA advised the public to be circumspect in drawing conclusions, which is not supported by facts and evidence.

It also assured all Ghanaians that it will continue to work transparently and with a high level of integrity to achieve results in the best interest of Ghanaians towards the implementation of the Millennium Challenge Account Programme.

Some energy analysts and critics have called for the resignation of the leadership of MiDA following government’s suspension of PDS concession agreement and inquiry into alleged fraudulent demand guarantees presented by Meralco/PDS for the ECG take-over on March 1, this year.

Source: GNA