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Business News of Saturday, 19 October 2019


We’ve not ceded 30% of Meralco to any company – Amewu clarifies

John Peter Amewu, Energy Minister play videoJohn Peter Amewu, Energy Minister

Energy Minister, John Peter Amewu has denied assertions by the opposition NDC that government has ceded 30 percent of Meralco’s shares in Power Distribution Services (PDS) to Meridian Power Ventures.

General Secretary of the NDC, Johnson Aseidu Nketia Thursday that government has restructured the PDS agreement, accusing the Akufo-Addo-led government of “trampling” the constitution of Ghana.

He demanded that the government immediately explain to Ghanaians how come Hong Kong-based Meridian Power Ventures has taken over from Philippines-based Meralco to the extent that the former is calling on foreign shareholders to hold an emergency board meeting.

But in an exclusive interview with TV3’s Paa kwesi Asare, the Minister dismissed the allegations

Claims that government is offloading shares to Meridian, he asserted, is “misleading”.

He rather charged the NDC to use their time in opposition judiciously by doing in-depth research in order to offer constructive criticism to put government on its toes.

Mr. Amewu also rejected claims that PDS is full of cronies of the president as asserted by his political opponents, and therefore wondered why a restructuring to take the shares from the supposed cronies “they are complaining”.

He was emphatic that President Akufo-Addo has nothing to do with the PDS deal.

watch excerpts of the interview