Energy expert Dr Charles Wireko Brobby is not in support of government’s decision to satisfy an external deadline in the Power Distribution Service (PDS) concession deal.
According to him, there have been various calls demanding an external deadline because of a $500 million involved.
Speaking on Joy FM’s Super Morning Show Monday, he told host Daniel Dadzie that accepting the deal only means the country will be making a hasty decision which will later be regretted.
PDS which managed Ghana’s electricity distribution had its concession agreement with government terminated last Sunday.
The termination came days after the NDC piled pressure on government over its handling of the deal.
Government maintains, the company failed to provide a valid demand guarantee which would have satisfied its financial ability to manage ECG.
There has been discussing what to do with the concession whether to give it to local interest or look for another foreigner investor.
“The injection of the change from a 20 per cent local interest to 51 per cent in effect drove away the interest of many of the people,” in the deal, Dr Brobby said.
He stated that similar mistakes were made which in turn led the country to acquire great losses.
The former Volta River Authority (VRA) boss cited the loss in the banking sector as a similar incident which according to him, brought a loss of about $4 billion cleaning up the sector.
Dr Wereko Brobby, however, stated that although cleaning the banking sector was important, there was a need to put the interest of the energy sector first.
He said the country should be committed to taking decisions that will bring long-term benefits to the energy sector rather than taking decisions that will take care of now.