The Public Accounts Committee of Parliament (PAC) has urged the Bui Power Authority to speed up the rate of debt recovery by the Electricity Company of Ghana.
This occurred when the Ministry of Energy met with the PAC to answer some questions brought up by the Auditor General. Dr.James Kluste , the Chairman of the committee made this statement during the meeting.
The ECG allegedly owes the Bui Power Authority $386 million as at December 31 2019. By the end of December 2022, the debt has escalated to $614. The Bui Power authority has been negatively affected by this debt in terms of its capability to run the company productively.
According to the chairman of the committee, this debt will not be completely paid any time soon. This is because there is a constant process of production, sales and reimbursement by the Electricity Company of Ghana. Therefore the only solution is to expedite the rate at which the debt is paid by the ECG.
Mr. Kofi Dzamesi, the CEO of the Bui Power Authority stated that they don’t receive any arrears from the ECG although they still produce energy for the country.
Dr.James Klutse advised the Ministry of Finance to make sure that every debt owed by any government organization is paid.
Dr. Matthew Opoku Prempeh , the Minster for Energy urged that measures should be put in place to ensure that the ECG is financially independent in its dealings with other producers of energy.