February 19, 2021

Member of Parliament for Yiepe/Kusawgu Constituency, John Abdulai Jinapor has noted with grave concern ruling by the International Court of Arbitration against Government of Ghana over the termination of an emergency power agreement with GPGC Limited.

He has called for the prosecution of officials involved in the creation of judgment debt awarded against the country in the termination of the contract with GPGC limited.

According to him  the ruling further ordered that,  government of Ghana  pay the full value of the early termination in the amount of USS 134,34 8,661 as well as accrued interest of $30,000,000. The Government of Ghana has been ordered to pay other related cost of USS 3,309,877.74 at the rate of LIBOR for three-month US dollar deposits, compounded quarterly.

At a media briefing in Parliament on Friday, February 19, 2021 he said,  the Minority equally noted  that the haste with which the former Minister of Energy,  Boakye Agyarko terminated this particular agreement against expert advice especially from the PPA  is largely responsible for  embarrassing the country, and the  ruling  has dented the image of Ghana internationally.

Mr. Abdulai Jinapor indicated that in paragraph 492 of the 194 page ruling of the ICA confirms that, the state could have opted for a negotiated settlement which would have resulted in a settlement cost of not more than $18.000,000 to the Republic of Ghana.

In addition, he noted that, on the contrary, the former Energy Minister Boakye Agyarko decided to rush to terminate the agreement by a letter dated 13th March 2018, rather than apologising for his reckless decision which has led to this huge financial loss to the state, “Mr. Agyarko has sought to justify his actions under the guise of a so-called cabinet memo”.

The MP went on to say, the so-called advise from cabinet did not do any good to Ghana and must not be an option if such decision would bring huge judgment debt to increase the hardship and huge debt on the good people of Ghana to pay.

Mr.  Jinapor further urged government to do something immediately to reduce the price of fuel in order to bring some relief to Ghanaians.

He said, the price of fuel in recent times has been increased number of times soon after the general elections.

The failure on the part of government to reduce the price of fuel would cause some transport operators to increase their fares for passengers in order to recover the extra money paid on fuel and that would affect the pocket of the ordinary Ghanaian.

Kwaku Sakyi-Danso/Ghanamps.com