The management of Power Distribution Services (PDS) has finally reacted to it’s suspension. They stated that the company has always acted in good faith with the contract it signed with the Government of Ghana.
PDS says it will collaborate with the Government of Ghana as it seeks to probe its Payment Securities (Demand Guarantees) for the ECG takeover.
In a statement, the company said it has always acted in good faith and will not rush to put out any information until they are substantiated.
The government on Tuesday suspended the power deal it signed with PDS. The Minister of Information, Hon Kojo Oppong Nkrumah, communicated the decision via a press release.
The statement said the action to suspend PDS became necessary due to “the detection of fundamental and material breaches of PDS’ obligation in the provision of Payment Securities (Demand Guarantees) for the transaction which have been discovered upon further due diligence”.
The government said they have initiated a full probe. Consequently government has taken steps to ensure that “distribution, billing and payment services continue uninterrupted”.
Government has since assured the public that the development “will not interfere with the distribution of electricity services to customers”.
In counter-statement signed by its Chief Executive Officer, the company said: “PDS has taken note of the statement issued by the government through the Ministry of Information (MoI) on behalf of the Minister of Finance (MoF) acting for and on behalf of Government of Ghana (GoG) and the Electricity Company of Ghana (ECG).
“PDS wishes to state for the records that it has always acted and will continue to act in good faith at all times.
“PDS will go through due process by complying with the terms of the Transaction Agreements executed between it and ECG on the one hand and the GoG through the MoF on the other hand.
They assured the Ghanaian public that it will not rush to put out any information until it has been sufficiently substantiated in the interest of safeguarding the transaction and the image of Ghana.