John Abdulai Jinapor, the energy minister-designate, has said the Energy sector debt figure from official sources is $3 billion.
According to John Jinapor, when the NDC left office, the energy sector debt was 2.1 billion dollars, and as of yesterday, it is a little over 3 billion dollars.
Appearing before the Appointments Committee of Parliament on Monday, January 13, John Jinapor stated, “When we’re leaving office, the debt stock consolidated was close to 2 billion. Fortunately, I have a document summary of energy sector debts and lenders through August 31, 2017, the ESLA PLC got a full audit of the entire energy sector debts”.
“I refer to the 17 of the document. The total energy sector liability at the time was GH₵9.4 billion, they themselves use an exchange rate of 4.4, if you use this exchange rate of 4.4, the debt had then moved to $2.1 billion. So let me put on record that as at this time when the debt was validated, the debt was $ 2.1 billion,” Mr. Jinapor stated.
He further revealed, “As we speak today, the reconciled figure from official sources is $3 billion,”
The energy minister-designate have revealed the Mahama administration believe there should be private sector participation in Electricity Company of Ghana (ECG).
He noted the move is to enhance effectiveness and improve power distribution in Ghana.
John Jinapor added, “We believe there should be private sector participation. What we intend to do is to form a seven-member committee, comprising technical experts, legal minds, financial analysts, industry players, and even a consumer representative,”
“My target is to push for six months, but I do not want to stampede the committee. However, give or take, within this year, we should complete the framework”, he stated.
He further added, “Once we get the buy-in of Ghanaians, we can proceed with a Request for Proposal (RFP) or competitive tender process. Our approach ensures we incorporate private sector expertise while safeguarding national interests”.
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When we left office, the energy sector debt was 2.1 billion dollars, and as of yesterday, it’s a little over 3 billion dollars – John Jinapor, Energy Minister-designate.#JoyNews pic.twitter.com/V0F74zEvVN
— JoyNews (@JoyNewsOnTV) January 13, 2025
