The controversial $1.5 billion STX agreement for the building of 30,000 housing units for the security services has been withdrawn from Parliament.

Works and Housing Minister, Alban Bagbin told Joy News the bill was withdrawn in the national interest.

The Minority in Parliament in a heated debate on the floor of the House Wednesday questioned the propriety of the agreement and demanded full disclosure of certain portions of the agreement.

The debate was adjourned to Thursday after the Majority promised to furnish MPs with further documents on the controversial deal.

However the Minister for Water Resources, Works and Housing, in an exclusive interview with Joy News’ Stephen Anti said the agreement has been withdrawn pending further discussions with the president.

“Listening to the debate and the direction that it was going, I thought that in the national interest it was important to brief the president on the debate, which I did, and the president advised it was essential that all those real issues raised were referred back to the [Finance] Committee [of Parliament] for proper deliberations before submitting it to Parliament again for us to continue with the debate,” he said.

He also conceded that some “legal documentations were not properly structured” for which reason the bill had to be relooked at.

He further mentioned some “inaccuracies” and “phrases” in the agreement which he said did not “represent the true position of the party.”

The government will take a second look at these inaccuracies after which it will bring the bill back to Parliament.

Parliament on Wednesday failed to conclude the adoption of a Suppliers Credit Financing agreement between the government of Ghana and STX Engineering and Construction Ghana Limited, because of the persistent questions raised by the Minority led by Dr Osei Akoto and former Attorney-General and Minister of Justice, Joe Ghartey.

The Minority argued that the off-taker document must be made available to all members to enable them appreciate the contents before they could determine whether the deal was in the supreme national interest.

According to the report of the Finance Committee of Parliament, over the next five years, 200,000 housing units would be built in all the ten regions in Ghana, 45 per cent of which the Government will become an off-taker to meet some of the accommodation needs of security services in the country.

The report stated that Home Finance Company would become an off-taker – a mortgage finance provider of the remaining 55 per cent.

STX Company is to provide government with an amount of $1,525,443,468.00 for the construction of 30,000 Units of houses out of 90,000 units as duty post for security agencies representing 45 per cent as off-taker agreement between government and the STX Company.

The estimated cost of the overall project is 10 billion US dollars.