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Who are the share owners of Meridian Power  Ventures Limited? .NDC ask Gov’t

BY PRINCE ESSIEN

THE NATIONAL Democratic Congress (NDC) is accusing Government over the transfer of 30% shares of Electricity Company of Ghana from Meralco Company Limited to Meridian Power Ventures Limited.

Speaking at a press conference held in Accra today, General Secretary of the opposition party, Johnson Asiedu Nketiah, said the NDC party had in their custody a copy of a letter from the Meridian Power Services to Millennium Development Authority (MiDA) on the subject of a special board meeting of Power Distribution Services Limited (PDS).

According to the letter, the PDS Consortium had called the meeting to discuss issues affecting the suspension of the PDS, resolution of the issue on the demand guarantee, and corporate governance and management processes.

However, the NDC said the board meeting tomorrow would also deal with matters relating to the bank guarantees which resulted in the suspension of the concession agreement.

The party accused the government of lack of transparency in its dealings in the electricity distribution business in the country and asked the question “Who are the shareholders of Meridian Power Ventures?”

“Government is making attempt to hand over majority of shares of the concession to cronies ,” the NDC said.

The NDC, therefore,  gave the Government 24 hours to immediately update Ghanaians on the transfer of shares without approval from Parliament, which shares they described as illegal.

 

 

 

 

 

 

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