Power Distribution Services Ghana (PDS) says it will go through due process by complying with the terms of transaction agreement between it and the Electricity Company of Ghana (ECG), as well as government.
This follows government’s suspension of the concession agreement it had with the company.
Government on Tuesday announced the suspension, explaining that it had been necessitated due to the detection of fundamental and material breaches of PDS’ obligation in the provision of Payment Securities (Demand Guarantees) for the transaction which have been discovered upon further due diligence.
But a statement issued Wednesday and signed by Chief Executive Officer of PDS, William Hutton-Mensah, said it had taken note of government’s decision and that it has and will always act in good faith.
“PDS wishes to state far the record that it has always acted and will continue to act in good faith at all times. PDS will go through due process by complying with the terms of the Transaction
Agreements executed between it and ECG on one hand and GoG through MoF on the other hand,” the statement said.
Meanwhile, government says the suspension of the concession agreement will not interfere with the distribution of electricity services to customers.
Source: Graphic.com.gh
