A Board Member of the Electricity Company of Ghana (ECG) Hon Frank Annoh-Dompreh has revealed that the institution is currently on the negotiation table with the government to find a way of settling its huge debt.
This comes at a time the 2020 Auditor – General’s report on the audit of statutory boards and corporations, reveals that several meters and conductors estimated at GH¢59million, but the machines are still locked up in the company’s warehouse about five years after their purchase
But speaking to Aisha Ibrahim on PM Express, Mr. Frank Annoh-Dompreh sparked a controversy saying, most of the debts at the ECG are avoidable hence the company must do well to implement recommendations made by the Auditor-General.
Assuring the general public on a government attempt to rescue ECG, Frank Annoh-Dompreh affirmed saying “thankfully, we’ve had some engagements with the ministry of finance who are beginning to look at how we can appreciate the debt hanging there and how we can deal with that”.
According to the Audit Report 2020, the Electricity Company of Ghana lost 2,649.08 GWh, which represents 24.30% of the power purchased from the power-producing companies.
The report advised management to determine losses that are due to technical and commercial challenges to help deploy measures to reduce those losses.