A Communications team member of the National Democratic Congress [NDC], Alhaji Nasiru has strongly said that it is a waste of time for the NPP government to revisit the agreement signed under the AMERI Energy deal.
“I say this because they had their representatives in parliament when the dealings were undertaken in aid of solving our frequent power outages that rendered thousands unemployed,” he said.
“It is the reason why I suggest, they go to court if they believe the deal at the time was inflated and some aspects of the contracts kept by the then government were not declared in parliament,” he added.
The New Patriotic Party government is following up on its promise to review the AMERI power deal approved by Parliament in March 2015 under the John Mahama-led National Democratic Congress government.
AMERI was to build the power plants, own and operate it for 5years before finally transferring it to the government of Ghana all at a total cost of $510m.
But the NPP MPs in Parliament after backing the deal in Parliament later raised red flags based on fresh information which they said proves the deal ‘doesn't make sense’.
Now in power, the Akufo-Addo led government first formed a technical committee to review the deal.
NPP MP for Adansi Asokwa, KT Hammond is in Parliament pushing for the recession of the contract.
However, AMERI Energy has insisted its $510m price for a 230megawatts power plant is fair despite this government's claim that the project was over-priced by $150million.
Alhaji Nasiru further expressed that “President Akufo-Addo and his government should completely cancel the current AMERI deal they claim was overcharged, bringing what they have got cheaper to serve the nation with electricity”.
“One thing I have realized with this government is that they always come up with issues against the previous government to surpass their negative acts being discussed in the public domain,” he added.
Source: Elizabeth Semiheva Bedi/Peacefmonline.com
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IT IS NEVER WASTE OF TIME BUT RATHER PRUDENT TO MANAGE THE NATION RESOURCES. YOU NDC PARTY WERE THERE TO ENRICH YOURSELVES BUT NOT TO HELP THE NATION GROW. NOW THAT YOU ARE IN OPPOSITION, YOU NEED TO BE QUITE FOR THE COMPETENT LEADERS TO LEAD THE NATION TO PROSPERITY.
REFRESHING TO KNOW THAT PROFIT ON ANY MAJOR PROJECT IS SIMPLY CALCULATED BY DEDUCTING INVESTMENT COST (USD 360MILLION) PAID AT INCEPTION OF A PROJECT FROM THE EXPECTED INFLOWS (USD 510MILLION) WHICH IS SPREAD OVER FIVE YEARS TO ARRIVED AT A WHOPPING PROFIT OF usd 150 MILLION AS TOUTED BY AN HOUNARABLE K.T HAMMOND. THIS IS A LAME ARGUMENT FROM THE HONOURABLE MEMBER WITHOUT FACTORING IN OTHER IMPORTANT VARIABLES, COST OF CAPITAL FOR THE PROJECT, INVESTMENT RISK, DEVELOPER’S MARGIN. FIRST, THE INITIAL COST OF THE PROJECT USD 360 MILLION WAS SECURRED BY THE DEVELOPER (AMERI). GOING BY CURRENT COUPON RATE OF 9% OF SECURING A BOND FOR THE PROJECT, GHANA WILL NOW BE PAYING USD 450 MILLION FOR THE NEXT FIVE YEARS JUST ONLY TO BREAK EVEN (PAYBACK)OR PAYING BACK THE LOAN OR BOND. HOWEVER, A PRIVATE DEVOLOPER WILL CONSIDER AND FACTOR IN HIS MARGIN, RISKS OF SINKING USD 360 MILLION IN A THIRD WORLD COUNTRY AND RETURN ON INVESTMENT. AMERI TARIFF AS IT STANDS NOW IS 14 CENT PER KILOWAT. SIMILAR AND CHEAPER THAN OTHER THERMAL PLANTS EG(CENIT PLANT) IN THE INDUSTRY AND FAR CHEAPER THAN RENEWABLE SOURCES IN THE NEIGHBOURHOOD OF 20 CENT PER KWH. IT IS APPROPRIATE TO FURNISH THE PUBLIC WITH TARIFFS OF OTHER PLAYERS OPERATING THERMAL FOR THE PUBLIC TO JUDGE.THE ARGUMENT IS SIMPLE. AN INVESTOR TOOK A RISK AND EARNING FAIRLY WHAT IS DUE HIM. GRANTED THE ARGUMENT OF K.T. HAMMOND IS CORRECT. THAT IS AMERI IS EARNING SUPER PROFIT BY INVESTING 360 MILLION AND EARNING 150MILLION IN 5 YEARS. IT MUST BE NOTED THAT, GOVERNMENT OF GHANA DID NOT INVEST A PESEWA INTO THIS PROJECT. THE DEVELOPER IS BEING PAID FOR FROM THE POWER SOLD. ALL CUSTOMERS ARE PAYING FOR THE COST OF THE PROJECT,RISK AND RETURN ON INVESTMENT AT GOING COMPETIVE TARIFF(14 CENT). IN 5 YEARS, GOVERNMENT OF GHANA WILL NOW INHERIT THE AMERI PLANT WHICH MAY NOW VALUE IN THE NEIGHBOURHOOD OF USD 250 MILLION TAKING NOTE OF DEPRECIATION. COMAPRING SUPPOSED PROFIT OF AMERI 150 MILLION AND GOVERNTMENT INHERITING A PLANT OF 250 MILLION FOR ZERO PESEWA INVESTMENT. WHO IS NOW MAKING SUPER PROFIT? THE VERDICT IS THERE FOR ANY FAIR MINDED GHANAIAN TO KNOW? UNLIKE KARPOWER, ASOGLI, CENIT PLANTS ETC, THE PLANTS WILL REVERT TO OWNER WHICH CAN BE SOLD IN THE INDUSTRY.
aLAJI that is why your party lost because you people dont learn if someone does something wrong you need to investigate and see the way forward. So kindly leave our President only to let Ghana work again, if you have any advice kindly give it to your party members. Because is not you NDC guys to give advice All of you need to be arrested including the Formal President he is part of all the incorruptible act you guys were doing to this dear country.
The NPP is trying it possible best to review this deal becouse they now when they do that those in that sector will benefit from it with hooping sum of Ghana's money
They say that 'SLOGAN' so that they can 'STEAL' jet pretend they are holy and like the people. What single intervention policy has come from NDC the so-called social democrats? they only SHOUT 'probity and accountability' but run away from them!
We all know the NDC does not believe in probity and accountability. . it just a slogan with no meaning to them....
Apuuuuuuuuu!you are all running from your shadow.
Do these people care about the well-being of Ghanaians at all? Every dubious deal the previous government was involved with no matter how rotten it is these maggots support.What kind of party is this?All they are interested right now is how to worm their way back to power to rob the people again.The worst thing Ghanaians can do for themselves is to allow these hoodlums back into their lives.