Source: newsthemegh.com
The Ministry of Energy refutes assertions made by a small group of lawmakers that the “GNPC-LITASCO” re-financing agreement is being carried out secretly and without legislative permission.
The minority claims that the government is trying to use GNPC to contract out the facility without the required permissions in a statement signed by Hon. John Jinapor, the ranking member of the parliament’s mines and energy committee and a member of parliament representing Yapei Kusawgu.
The Ministry of Energy, in a fast reaction, stated that the minority’s action was just a planned attempt to damage the reputation of the administration, including His Excellency the President and other government officials, for political objectives on Friday, September 22, 2023.
This, according to the Ministry, is due to the fact that the aforementioned agreement has since undergone a number of procedures and has not yet been delivered to parliament when it reconvenes in the middle of October.
“It is vital to note that this particular facility, to which the minority slyly alludes, is undergoing its sixth refinancing.
The corporation proceeded to secure the requisite parliamentary permission, including the refinancing of the loan, and stated plainly in the GNPC’s 2023 Work Programme that they intended to raise $620 million from the LITASCO facility to finance their work programme. “Now, GNPC just last week, on Thursday, September 14, 2023, agreed on the terms and conditions of this facility with LITASCO, duly obtaining its Board’s approval,” it stated.
The documentation will demonstrate that the document was forwarded to the Ministry of Energy for a “no objection” on the same day.
In accordance with the requirements of the Public Financial Management Act (PFMA), the Ministry of Energy transmitted the paper to the Ministry of Finance after expressing its lack of objection. The MOF gave its approval on Friday, September 15, 2023.
The Ministry claimed that it is difficult to understand why the minority group and the ranking Member would accuse government actors of wrongdoing and even impugn the integrity of His Excellency the President when what is being done is in accordance with the law, propriety, and in fact the principles of good governance given their expected knowledge of these procedural requirements.
Given the close proximity to election season, it claimed that the minority’s actions could only have been taken to undermine the government in order to obtain electoral support.
The Ministry advised the general population to disregard and despise the minority’s allegations, calling them false.