Capture the 1.4 billion debt you owe us in mid-year budget- CIPDiB to Gov’t

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The Chamber of Independent Power Producers and Bulk Consumers [CIPDIB] is demanding the Government to factor the payment of about  USD$1.4 billion debt owed them in the 2020 mid-year budget. 

The CIPDiB are expecting that the budget would address how government intends to pay off all the debts it owed the Independent Power Producers (IPPs). 

A statement issued in Accra and signed by the Chief Executive Officer (CEO) of CIPDiB, Mr. Elikplim Kwablah Apetorgbor said, the Government’s cumulative indebtedness to them is compelling them to contract costly loans to sustain their generations.
“This situation is grim and there is a real danger of IPPs shutting their plants if the situation is not resolved in the immediate term,”  it added.

The statement urged the Government to include measures to ensure that the shortfalls in the Electricity Company of Ghana’s (ECG) revenues are addressed as and when they occur, to ensure that IPPs and others who supply products or services to the ECG  were paid on time. 

It maintain’s that the IPPs cannot be responsible for the Government’s subsidies and other obligations.

Source: Ghanaiandemocrat

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