Audio By Carbonatix
Parliament has rejected a $250 million loan for the Ghana Energy Sector Recovery Programme.
The financing agreement is between government and the International Development Association (IDA) of the World Bank Group
The object of the loan is to provide funding for the ESRP to support specific activities aimed at reducing the costs of electricity purchases and increasing revenue collection of the distribution utilities.
- Read also: Affirmative Action bill passed into law
Additionally, it is geared towards improving the financial management system of ECG as well as supporting the National LPG Promotion Programme.
But the consideration of the agreement was halted following a revelation by Asawase legislator, Muntaka Mubarak.
He drew Parliament's attention to the fact that more than $90 million of this amount will be spent on consultancy alone.
Both the Minority and Majority members on the Finance Committee had unanimously backed the approval until Muntaka Mubarak threw a spoke in the wheels.
Latest Stories
-
Gov’t committed to finishing Tema Motorway by 2027, says Agbodza
35 seconds -
OSP under threat from political interference — Kissi Agyebeng calls for constitutional protection
4 minutes -
T.I. Ahmadiyya SHS, Kumasi, celebrates 75 years of excellence
13 minutes -
Court orders SHS students to pay compensation for assault on teacher
15 minutes -
Students of Nkwantanang M.A 6 Basic School benefit from ‘Break the Silence’ Menstrual Awareness Initiative
22 minutes -
Fuel price hike exposing NDCs’ deceitful politics—Mercer
24 minutes -
Farmers trained in snail rearing, beekeeping and mushroom cultivation under EMBRACE project
30 minutes -
Insurance contracts railroaded by unseen political hands – IMANI
36 minutes -
When Builders Are Broken: A nation’s conscience on trial
40 minutes -
Otto Addo: A pointless that failed spectacularly
40 minutes -
Bond market: Turnover declines by 59% to GH¢377.59m
52 minutes -
Touching children’s lives elevates me – James Kofi Annan
54 minutes -
Police arrest man over viral threats against High Court judge
54 minutes -
Parliament submits five bills to President Mahama for assent
59 minutes -
Otto Addo lacked credentials for Black Stars job – Ekow Asmah
1 hour