July 20, 2011

The Minority Leader in Parliament Osei -Kyei Mensah -Bonsu and Member of Parliament for Suame says the minority remains committed to ensuring that loan agreements to finance the controversial STX Korea Housing project are properly examined.

He emphasizes the importance of meticulously examining every agreement on the deal prior to being approved.

The Minority Leader was reacting on Adom FM to a publication that the Minority plans to boycott parliamentary sitting over the approval of loans for the STX housing project.

Hon. Osei -Kyei Mensah-Bonsu in an interview on Adom Fm’s Dwaso Nsem show on Wednesday states categorically that they are not boycotting the approval of the STX Korea housing deal, but are calling for due diligence to be done before the approval so that MPs can answer any issues on the deal that may crop up later.

He raises issues about the source of funding for the project contending that the not too clear terms in the contract creates doubt that the needed funds will be secured for the project.

Construction work on the project which was expected to begin early this year has not taken off yet because the project contractors have apparently been unable to raise the US$1.5 billion needed for the first phase of the project.

The 200,000 housing units project is valued at 10 billion dollars of which 30,000 will house personnel of the security forces.

Story by : Kwadwo Anim/ghanamps.gov.gh