CPP will revoke Electrochem Ada Songhor Salt deal - Ivor Greenstreet

The flagbearer of the Convention People’s Party (CPP), Ivor Kobina Greenstreet, has promised a future government formed by his party, will possibly revoke the Ada Songhor salt concession agreement between the NPP government and Electrochem Ghana Limited, a privately owned Ghanaian firm.

According to him, the agreement which gives Electrochem some form of tax exemptions at the expense of the country smacks of many anomalies and must, therefore, be discontinued.

It would be recalled that Parliament on the 4th of November unanimously approved a mining lease agreement between the government of Ghana and Electrochem Ghana Limited, over the Ada Songhor salt concession.

In the adopted report, it was agreed that the over 158.34-metre stretch concession, will be leased out to Electrochem Ghana Limited, a subsidiary of the MacDan Group of Companies, to mine salt for the next 15 years subject to renewal, whiles it enjoys tax exemptions for the given period.

However, Mr Greenstreet said the agreement does not sit with well with the interest of indigenes and the country as a whole, judging from the fact that government will have no stake in the operations, with the exception of the royalties to be paid by the private entity.

According to him, the decision to also include a tax exemption clause in the agreement will rather see Electrochem make huge gains at the expense of the country.

He said a future CPP government will either review or revoke the agreement, stressing that, they are not against the empowerment of local indigenous businesses, but against the use of concession agreement to enrich private businesses at the expense of the country.