Accra, Oct. 20, GNA - Mr Mike Hammah, Minister of Transport, on Tuesday inaugurated a seven-member committee to investigate operations of PSC Tema Shipyard Company.

It is expected to submit its report within eight weeks. Mr Hammah called on the committee to investigate reasons for the incessant labour unrest and how it affected its operations. It is also to assess and investigate the financial viability and tax obligations of the company.

Mr Hammah explained that the investigations were not for any witch hunting but to ascertain the truth or otherwise of the numerous allegations levelled against the management.

This would ensure that appropriate steps were taken to safeguard the tax payer's money for the company to contribute its quota towards the country's development, he said.

Mr Hammah said since government divested 60 per cent shares of the Tema Shipyard and Drydock, (the original company) the company had attracted attention from the media and the public.

"With a huge potential to maintain and improve upon its viability, the PSC Tema Shipyard has come under severe criticism, particularly from the media and staff of the company accusing management of malfeasance and impropriety," he said.

Mr Hammah noted that the Malaysians (majority shareholders of the company) after the divestiture, transferred shares to another company without due recourse to the original divestiture agreement in 1998 describing the act as "a major national concern". Mr Chris Ackummey, Chairman of the committee, pledged to work assiduously for the confidence reposed in them.

Other members are, Lieutenant Commander J. Kpesese (rtd), Mr Seth Kugblenu, Mr George Winful, Mr Adaangiak Adarikame Akanteyam, Mr Kwadwo Owusu-Ansah, member/secretary and Mrs Ama Banful.