Power Minister Dr. Kwabena Donkor says electricity distributor, Electricity Company of Ghana (ECG), is on the brink of collapse without fresh cash injection.
“We are on the brink of collapse if we do not have cash infusion and yet we are owed hundreds of millions of cedis. This, ladies and gentlemen, cannot and must not be allowed to continue,” said the Minister at an event recently.
Private and government institutions owe the ECG more than GH¢500 million, making it impossible for the company to pay power producers for generated electricity.
“As a nation, we cannot afford to let this valuable asset we call ECG collapse. It will be most irresponsible of us and we will not allow that”, Dr Donkor emphasised.
Dr. Donkor has therefore inaugurated a committee to oversee the collection of debts owed the power distributor.
According to the Minister, recovering the debt is crucial for the company’s survival.
Dr Donkor also underscored the need to reduce staff numbers and improve efficiency at the company.
“The management and board are determined that going forward, we’ll have a lean, efficient, commercially sensitive and aware organisation that will ensure the survival of the organisation,” he revealed.
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