The Ghana Gas Senior Staff Association (GGSSA) is concerned that non-payment by the Electricity Company of Ghana (ECG) to major stakeholders in the energy sector poses a potential threat to the sector.
The Association said the repercussions of the situation are “far-reaching and could potentially disrupt the delicate balance within the energy sector”.
This concern was expressed in a statement issued by the Association on Wednesday, December 20.
Signed by its Chairman, Richmond Kabiru Alamu, the statement called on the country’s major power distribution company to make immediate payment due, particularly, to Ghana Gas.
“The energy sector, a vital component of Ghana’s economic growth, is now at risk of disruption,” it said.
“The inability to settle financial obligations not only hampers Ghana Gas’s ability to maintain infrastructure and operations but also reverberates through the entire energy supply chain, affecting stakeholders and service providers alike.”
According to the Association, the International Monetary Fund (IMF) directed timely payments to state-owned enterprises as part of international best practice.
It said President Nana Addo Dankwa Akufo-Addo and Vice President Dr Mahamudu Bawumia also made a similar call.
“Despite these directives, ECG’s non-compliance persists, leading to a situation where critical entities like Ghana Gas are left in financial limbo, struggling to fulfill their obligations and maintain operational efficiency.”
The statement later insisted: “Adherence to IMF conditionality and presidential directives is crucial for maintaining financial stability and ensuring the seamless functioning of critical entities within the energy sector.
“The government and relevant authorities must address this issue promptly to mitigate the potential economic fallout and uphold Ghana’s reputation as a responsible and stable investment destination.”