Deputy Finance Minister Ato Forson has told Parliament processes have begun to liquidate the West African Mills Company Limited (WAMCO).

The position he presented to Parliament contradicts earlier claims by the COCOBOD that the company was not for sale. COCOBOD had in a statement in July said the sale of WAMCO was “without its knowledge, consent and approval and should be ignored”.

But Mr. Ato Forson told the MPs “The board of West African Mills Company, WAMCO, has commenced official liquidation of the West African Mills Company.

“The WAMCO is a joint venture agreement signed in 1992 between the Ghana COCOBOD and Schroeder of Germany of which the Ghana COCOBOD is a minority shareholder with 40% of shares while Walters Shroeder holds the remaining 60%.

“The company has seven board of directors, with four appointed by Welter Schroeder GmbH and the three appointed by government.”

He was responding to an urgent question filed by the Member of Parliament for Takoradi Kwabena Okyere Darko-Mensah on when WAMCO would be reopened for business.

He told the House it would be “difficult to explain” the exact date it would be re-opened.

“Government’s intention is obviously to accept the position of the board and management of the company that will liquidate the company. At that point, the assets and liabilities of the company would be properly validated so the workers entitlement would be paid out of that,” he added.

By Owoahene Omari Acheampong | Onua 95.1FM | 3news.com