Kojo Oppong Nkrumah, Minister of Information<\/figcaption><\/figure>\n<\/div>\nIt has emerged that over GH\u20b55 billion of the GH\u20b5<\/em>6.3 billion Supplementary Budget needed for the remaining months of the 2019 fiscal year will be invested in the energy sector.<\/p>\nInformation Minister, Kojo Oppong Nkrumah, who said this, explained that the situation is due to the take-or-pay contracts signed by the erstwhile John Mahama government, which obligated the country to pay for capacity it does not need.<\/p>\n
READ: Communication Service Tax up to 9%<\/strong><\/p>\nHe revealed this on Adom FM\u2019s morning show, Dwaso Nsem<\/strong> programme, Tuesday while giving a diagnosis of the Mid-Year Fiscal Policy Review of the 2019 Budget Statement and Economic Policy and Supplementary Estimates in Parliament by the Finance Minister, Ken Ofori-Atta.<\/p>\n\u201cWe are spending GH\u20b55 billion cedis for power we don\u2019t need a year and this money could have been invested in other sectors of the economy,\u201d he bemoaned.<\/p>\n
The Information Minister noted that the country\u2019s installed capacity of 5,083 MegaWatts (MW) is almost double at its peak demand of around 2,700 MW, but 2,300 MW of the installed capacity was contracted on a take-or-pay basis.<\/p>\n
READ: Audio: Prophet Badu Kobi incurs wrath of women group<\/strong><\/p>\nThis, Mr Nkrumah explained, is what is draining government coffers because \u201cwe are paying for capacity charges of power we don\u2019t need.\u201d<\/p>\n
He pleaded that issues in the energy sector be discussed dispassionately devoid of politics.<\/p>\n
READ: GNAT raises red flag over SHS 2 vacation classes<\/strong><\/p>\n\u201cWe must discuss this devoid of politics and face the situation head-on,\u201d he added.<\/p>\n
Source: Ghana | Adomonline.com | Adwoa Gyasiwaa Agyeman<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Kojo Oppong Nkrumah, Minister of Information It has emerged that over GH\u20b55 billion of the GH\u20b56.3 billion Supplementary Budget needed for the remaining months of the 2019 fiscal year will be invested in the energy sector. Information Minister, Kojo Oppong Nkrumah, who said this, explained that the situation is due to the take-or-pay contracts signed […]<\/p>\n","protected":false},"author":1,"featured_media":667669,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-667668","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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