The Minister of Trade and Industry, PSD/PSI, Mr. Allan Kyeremanten has denied any wrong doing as well as allegations of impropriety and conflict of interest in the administration of the EDIF Board, which he has oversight. The Commission on Human Rights and Administrative Justice (CHRAJ), is investigating the Minister and the nature of his interest, if any in PSI Properties Limited, fol¬lowing a petition. The Chronicle says details of the old board of EDIF, which was forcibly sacked in a day by Allan makes compulsory reading, and has all the hallmarks of a story, which by all accounts will not go away. First of all, PSI Properties has Hon. Joe Ghartey, the Attorney General and Minister of Justice, who at the time of registering the company was the second officer named on the Registrar of com¬panies, as the other party to PSI Properties. Secondly, the board, which had resisted their dismissal, had gotten their lawyer, Messrs Addae Twum and Co, write to inform the minister of the limits of his power on the EDIF Board. The dissolved old board has the following as full members and jointly fought Allan till they could not fight him anymore because he persisted: Mr. J.B. Addae, Chairman, T.K. Obeng, the Chief Executive, Messrs Kwesi Arthur, Herrnan Seshie, Ike Duker, Dr. J.A. Poku, Dr. Baffoe Bonnie, Mr. E. C. Boateng, Nana Yeboah Kodie Asare and Mr. George K. Fynn. A loan of $I.5 million was granted to PSI Properties Limited but no one has signed for the loan yet and up to now, the loan documents remain unsigned. Below is an unedited statement of Mr. Allan Kyerematen, reacting to the matter but which does not touch on the issue of PSI Properties. PRESS STATEMENT BY HON. ALAN KYEREMATEN MINISTER OF TRADE, INDUSTRY, PSD/PSI The Ghanaian Observer in its edition of the 25th – 27th April 2007 carried a news item titled "Alan Dragged to CHRAJ over impropriety, conflict of interest." The report made reference to a former Greater Accra Regional Treasurer of the NPP who has petitioned the Commission of Human Rights and Administrative Justice (CHRAJ) to investigate the Minister of Trade, Industry, PSI and Private Sector Development in respect of acts of impropriety committed in the management and administration of the Export Development and Investment Fund (EDIF). Although I am yet to receive an official notification of the said petition from CHRAJ, I am compelled to make this preliminary statement in reaction to the news report first based on the substance of the allegations as reported, secondly on the credibility and motive of the petitioner and thirdly on the veiled political interests underpinning the allegations. Against this background, I wish to state categorically as follows: 1. That there is no substance in the allegation of impropriety and conflict of interest in the matter under reference, and that the allegations are inspired by ill-will, political treachery and deceit all calculated to tarnish my reputation, credibility and public image both locally and internationally. 2. That the said petitioner, claiming to have been a member of the old EDIF Board, which had approved a funding request from the Ministry for support to selected PSI Companies, would now turn around and be challenging the decision of the same Board to which he belonged. One would question why the petitioner did not conduct the necessary due diligence on the beneficiary companies at the time the Board approved the loan and is now only complaining after the Board had been dissolved long after the expiry of its term of office and had himself ceased to be a member of the Board. 3. That the petitioner's allegations of conflict of interest on my part is difficult to comprehend as it is absolutely clear, that I have no beneficiary interest in whatever form in the said beneficiary companies, my interest in supporting Ghanaian companies to create wealth and jobs for the advancement of Ghana. 4. That it is an undisputed fact that the Ministry and for that matter my good self has absolutely no control on the approval process and decisions of the EDIF Board. 5. That evidence will in due course be provided to establish the personal role that the petitioner and other members of the Board had played in promoting a joint venture project between a Ghanaian Company and a South African Company which was about to benefit from a 3 million dollar loan facility from EDIF under very questionable circumstances and which initiative was aborted with the timely intervention of the Ministry. 6. That the new EDIF Board was reconstituted on the express authority of His Excellency the President of the Republic, the term of the old Board having expired a year or more before. 7. Other matters referred to in the allegation particularly in reference to EMPRETEC have no relevance to the substance of the allegation. I wish to conclude by giving my unqualified commitment to make myself available to assist CHRAJ in its investigations and hope that CHRAJ will make an early determination of the matter. Fortunately, all the issues raised in the allegations refer to transactions that are evidenced in the form of docu¬ments, which are subject to full disclosure. Finally, is it not strange that a former key Regional Executive member of the NPP will seek to discredit a leading member of the NPP, if indeed there is no political motive or advantage to be gained? I hope events that will follow will unveil all those behind this plot. Source: The Chronicle