By Dominic Hlodzi
The Independent Power Producers, IPPs have written off about $600 Million out of the $1.4 billion dollar debt owed by the government.
The debt forgiveness comes after a thorough accounting set offs and review exercise.
In a statement signed by the CEO of the Chamber of Independent Power Producers, Dr. Elikplim Kwabla Apetorgbor confirming this, the IPPs said their legitimate pressure on the government to have their overdue receivables paid to them has yielded positive results through win-win discussions.
Deputy Minister of Energy, Mr William Owuraku Aidoo announced the settlements on the floor of Parliament while responding to questions on the power sector.
The settlements came as a result of the debt cancellations via accounting set offs, amounting to over $600 million.
The statement commended all the IPPs for the debt cancellation at this very crucial time of the economy.
It also commended the good leadership of the Minister for Energy, Dr. Matthew Opoku Prempeh for ensuring a good working relationship between the IPPs and the Ministry over the period which led to the resolution of issues amicably.
The IPPs prayed that there will not be any interference in the current structure of revenue disbursement and allocation in the future.
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