Business News of Tuesday, 3 April 2012
The Private Enterprise Foundation (PEF) is worried more industries will collapse this year if the current load shedding exercise continues.
The Electricity Company of Ghana (ECG) has given indications that the current load shedding exercise will be intensified to include more areas.
The ECG will be reviewing the current load shedding exercise and indications are that it could be worse with more people and more areas to be included in the exercise.
Industry has over the years asserted that the irregular supply of power has a negative impact on their business. A couple of companies over the years have been shut down due to the issue.
The Director General of Private Enterprise Foundation (PEF) Nana Osei Bonsu, told Citi Business News the move will make it difficult for industries to survive.
“You cannot beat the horse so many times in the same situation, it [load shedding] impacts negatively on our members. We have been talking to EC trying to get the rationale behind the problem but the truth is that is very disturbing. It is going to collapse a lot of business,” he predicted.
Analysts say a minimum amount of GhC 700 million is needed to fix the ECG's problems, especially those having to do with operations and distribution.
Nana Osei Bonsu told Citi Business News till government invests more in the energy sector the problem will persist.**