The Minister for Energy John Peter Amewu has told Citi Business News initial investigations conducted by government has established that a document that was presented by PDS as a guarantee for the takeover of ECG was forged.
The minister explained that even though the document indicated that a company in Qatar had guaranteed for PDS, the management of the company told the government of Ghana it had no knowledge of the document.
The Ministry of Information yesterday announced that government has suspended the Private Sector Participation deal between PDS and ECG.
Speaking to Citi Business News Mr. Amewu stated that the government will prosecute anyone found to have engaged in the fraudulent act.
“The investigations that was conducted through due diligence processes had established that the payment guarantee that was submitted by PDS to ECG was for some reasons the word fraudulent has been used in it. The executing authority denied ownership of such document and therefore had written to ECG to announce that we’ve got nothing to do with this document,” Mr. Amewu said.
The government in a statement on Tuesday announced that PDS’ concession agreement was suspended after the government discovered some breaches in the company’s obligation in the provision of payment securities.
PDS responded to the government’s statement saying it had always acted in good faith and “will continue to act in good faith at all times.”
The company was expected to turnaround the operations of ECG to make it profitable.