NPP mulling liquidity management board for power sector

13 July 2016 at 10:49

Just as the Central Bank is responsible for the liquidity in the banking sector, so shall the liquidity management system be responsible for liquidity in the energy, Agyarko told the Finder Newspaper.

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Abu Mubarik

The New Patriotic Party (NPP) intends to create a liquidity management board for the power sector to help deal with financial challenges in the sector, Chairperson of the partys Campaign Sector Committee for Energy, Mr. Boakye Agyarko has said.

He told the newspaper that statutory board would collect all electricity bills and pay all stakeholders their share through a cascading waterfall system, will be responsible for disconnection of defaulting consumers, and it would ensure that all government institutions pay their electricity bills.

The interview comes on the heels of plans by government to privatise the Electricity Company of Ghana (ECG).

It is unclear how the board will operate since the ECG will be privatise for 25 years and may be performing the same functions as the proposed liquidity management board by the NPP.

Ghana is going through excruciating power supply that is affecting business operations and planning.

The power challenges have largely been attributed VRA's indebtedness to the banks and suppliers.

As of March, it owed banks and suppliers $1.53bn.

But Agyarko said the the liquidity management board system is one of the numerous reforms line-up to fix the power sector.

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Abu Mubarik