According to the semi-annual report of the Public Interest and Accountability Committee, for 2017, VRA owed Ghana Gas to the tune of 107.18 million dollars with interest.
Ghana Gas in turn also owed GNPC to the tune of 132.03 million dollars.
A situation analysts believe requires pragmatic solution to turnaround the fortunes of the companies.
Regarding the use of the energy bond to settle the debts, Mr. Ishmael Egyekumhene and Kwame Jantuah had these to say.
“The debt that VRA is owing to Ghana Gas, those debts must be cleared because the country would have to pay the loans that it secured to build the gas processing plant,” Mr. Egyekumhene stated.
The PIAC vice chairman also maintained, “Let’s make sure that we pay these debts once and for all so that everybody knows the state of the companies involved. I am not too happy with the fact that we are playing yo-yo with tariffs. We cannot do that at all!”
Meanwhile, the AGI is optimistic that the affected institutions should put in place mechanisms to absorb them from any potential shock due to the reduction.
Source: Citifmonline