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Editorial News of Thursday, 1 March 2001

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Energy adviser dares Tsatsu to a public debate over GNPC saga!

Dr Charles Wereko-Brobby, Special Adviser to the President on Energy matters, has challenged the former Chief Executive of the Ghana National Petroleum Corporation (GNPC) to debate him at any given time, 'The Crusading Guide' reported.

"I am willing and today confirming that I would like Mr Tsatsu Tsikata to sit down with me for whatever length it takes, for us to go through this business". He said. The Energy Advisor said GNPC was set up to help Ghana refine oil and if for the past two decades this corporation had been concentrating on oil exploration, being its core business, Ghana would have found oil by now.

Speaking on a Radio Universe, an Accra-based FM radio, programme 'Newspaper Review' he also alleged that Dr Kwesi Botchwey, a one time Finance Minister of this country, resigned because GNPC managed to incur $200 million debt.

"Now I can tell you that another $200 million debt had been accrued by GNPC when it got into crude oil trading in 1997 with Volta River Authority (VRA) and Electricity Company of Ghana (ECG)", he disclosed.

The Energy expert further revealed that the Japanese government had given Ghana an amount of $125 million to procure 225 mega watts power barge built in Italy which had been sitting there idle for two years thereby costing the corporation almost $10 million in the payment of rent.

Again GNPC entered into hedging and had as a result, incurred another colossal debt of $65 million.

He stated categorically that all these figures are not part of the 41.1 trillion cedis debt.