We are not open for discussions on debt restructuring - IPPs to government

The Chamber of Independent Power Producers (IPPs) says its members are not open to any discussion on the debt restructuring programme.

In a letter, the finance ministry proposed a debt restructuring programme for the power producers, but the IPPs are objecting to the proposal and are instead asking the government to come up with a payment plan for the settlement of about $1.5 billion in arrears.

The Chief Executive Officer of the Chamber, Dr. Elikplim Apetorgbor, who spoke with GBCNEWS, commended the Electricity Company of Ghana for its revenue mobilization drive.

He hoped that the monies collected would be expeditiously paid to the power producers.

He explained that there is no contention over the actual amount the government owes them. He said the power producers are demanding payment schedules to enable them to invest in their operations to enhance power generation.