The deputy Power Minister, John Jinapor, says listing the Electricity Company of Ghana (ECG) on the Ghana Stock Exchange is not an option, noting government has reached an advance stage in the concession arrangements.
Members of the Public Utility Workers Union (PUWU) who have opposed the move to cede ECG to a private company for the next 30 years, suggested to government to consider listing the power distributor on the stock market as against the concession.
They argue listing the ECG on the stock market will significantly improve the financial position of the company.
But the Mr Jinapor in a meeting with PUWU ruled out the option of stock market listing, saying the concession arrangement is too advanced to change it.
“It’s too early for us to sit here and begin to talk about changing or listing on the stocks market”, he emphasized.
“We have gone through a lot and the minister has tasked us to draw a time table and a road map so that MiDA and ECG would iron out whatever outstanding issues they have,” he said.
Mr Jinapor said they are in talks with Millennium Development Authority and ECG with the view of reaching a consensus among all parties.
“Clearly it appears that further explanations and clarifications need to be made so that once they do that and there are some sticky issues that we take it from there,” he said.
By Grace Hammoah Asare|3FM|3news.com
