GNPC set to clear 107 billion cedis debt by April, next year

The chairman of the Public Accounts Committee of Parliament told the House yesterday that the Ghana National Petroleum Corporation (GNPC) has made satisfactory arrangement with the Bank of Ghana to clear its outstanding debt by next April. The committee chairman, Mr J.H Mensah said the ccorporation's indebtedness to the bank of Ghana and Ghana Commercial Bank, London branch, stood at 107,569,051,88.20 cedis as at the end of last October. Mr Mensah was presenting the committee's first report on statements of foreign exchange receipts and payments of the Bank of Ghana for the year 1995.