We acted in good faith – PDS

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Power Distribution Service (PDS) has denied wrongdoing in its concession agreement with the government through the Ministry of Finance.

The company, in a statement following government’s announcement of an immediate suspension of the deal owing to the discover of some improper actions by PDS said the it “wishes to state for the record that it has always acted and will continue to act in good faith at all times.”

The Minister for Information in a statement on Tuesday said, PDS’ concession agreement was suspended after the government discovered some breaches in the company’s obligation in the provision of Payment Securities.

(Demand Guarantees) for the transaction which have been discovered upon further due diligence”.

The government said a full probe has been initiated and steps have been taken to ensure that “distribution, billing and payment services continue uninterrupted”.

The public has been assured that the development “will not interfere with the distribution of electricity services to customers”.

But in counter-statement signed by its Chief Executive Officer, the company said: “PDS has taken note of the statement issued by the government through the Ministry of Information (MoI) on behalf of the Minister of Finance (MoF) acting for and on behalf of Government of Ghana (GoG) and the Electricity Company of Ghana (ECG).

“PDS wishes to state for the records 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 the one hand and the GoG through the MoF on the other hand.

“PDS wishes to assure the Ghanaian public that it will not rush to put out any information until it has been sufficiently substantiated in the interest of safeguarding the transaction and the image of Ghana.”

 

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