Home / NEWS / Boakye Agyarko knew the financial impact of GCGP contract cancellation – Inusah Fuseini

Boakye Agyarko knew the financial impact of GCGP contract cancellation – Inusah Fuseini

A lawyer and member of the National Democratic Congress, Inusah Fuseini has alleged that the former energy minister, Boakye Kyeremanteng Agyarko was fully aware of the consequences and financial impact of Ghana’s power contract termination with GCGP Limited.

His comments come after the former energy minister, Boakye Agyarko has stressed he was not responsible for the termination of the power agreement which has resulted in a looming US$134 million judgment debt.

Inusah Fuseini speaking on Joy New’s NewsFile on Saturday February 20 lamented, “It is beyond question that Boakye Agyarko didn’t know that it would have adverse financial effect on the country. He knew…he knew that it would have financial impact. We knew…Boakye Agyarko knew. There is no doubt about it.”

Ghana’s power agreement with the GCGP Limited was initially signed under the erstwhile John Mahama administration with the intention to offset power outages that plagued the country at the time.

The agreement was reportedly terminated by Agyarko during the first term of the Akufo-Addo government, on the basis the nation was incurring losses from the agreement.

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Following the cancellation of the agreement, the company filed a suit against Ghana to the International Court of Arbitration seeking damages for the cancellation.

The former energy minister under the governing New Patriotic Party in a defence explained that at the time of the cancellation of the deal, he was no longer serving in the position as Energy Minister.

Speaking in an earlier interview on Oman FM monitored by GhanaWeb, Boakye Agyarko indicated, “I just realized that they had filed for arbitration on August 11, 2018. This was after I had left the ministry. I never knew they had gone for arbitration. I am told that the government presented itself at the arbitration. How would someone accuse me of cancelling the contract? I have not cancelled any contract; I don’t have the power nor the need or desire to cancel it. I am for what will help Ghana,” he said.

Source: www.ghanaweb.com

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