The Minority Spokesperson on Mines and Energy John Jinapor has accused Vice President Dr. Mahamadu Bawumia of misrepresenting their concerns with the Sinohydro arrangement.
He said the concerns of the minority would be vindicated when the loan is due for repayment in 2023.
Dr. Mahamadu Bawumia at the commissioning of a road he said was funded by money from Sinohydro accused the opposition of being against the entire arrangement amidst claims the projects could not be executed.
Speaking in an interview with host of the Gold Morning Conversation Sena Nombo spokesperson for the minority John Jinapor says the Vice President took the minority out of context.
According to him the minority’s concerns related to the classification of the arrangement as they insisted the arrangement was a loan and should therefore be treated as debt.
He said government at the time insisted that the Sinohydro arrangement was not a loan as it the $2billion was given in exchange for processed aluminum to be produced from Ghana’s bauxite resources.
John Jinapor said the minority was concerned with the arrangement for government to within the period of three years construct an aluminum smelter that would produce enough aluminum to be used as payment for the Sinohydro arrangement.
With few months for the loan to be due for repayment, John Jinapor said government was yet to construct the smelter that would manufacture the aluminum meaning the loan would have to be repaid with cash.
The Yapei Kusawgu MP said the current state of affairs vindicate the minority’s earlier advice to government to add the Sinohydro deal to the debt portfolio of Ghana so that the country can plan on how to repay if the aluminum smelter alternative fails.