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Stop needless borrowing from GNPC – Minority to Government

The Minority in Parliament has urged the government to desist from what it terms needless borrowing from the Ghana National Petroleum Corporation, GNPC.

Successive governments have over the years either borrowed directly from GNPC or externally on the Corporation’s books.

Currently, the government owes GNPC over $300 million.

Speaking to Accra based Citi FM after the approval of $500 million for the 2020 work plan for the GNPC in Parliament, Deputy Ranking Member for the Committee on Mines and Energy, Dela Sowah said GNPC must not be treated as a financial institution where the government keeps borrowing from.

“The government owes GNPC over $300 million. They [GNPC] need $500 million to finance their activities for the year 2020. The government owes them over $300 million which is equivalent to 66% of GNPC’s estimated budget so if you look at it, it doesn’t make sense. Why is it that the government owes them so much and yet they need money to do their own activities and they don’t have,” the MP said.

This is not the first time the Minority in Parliament has raised such concerns.

The Minority spokesperson on Energy, Adam Mutawakilu last year said the government has borrowed as much as $289million since 2017.

He called for an immediate stop to the practice.

“We had the opportunity to meet GNPC and its quite worrying. Between 2017 up to September 2019, the government has borrowed from GNPC to the tune of $289million for the various agencies. Government has taken money from GNPC for BOST, the government is using GNPC like their side-pockets. Anytime they have challenges they just go in and pick money, this must stop. Borrowing $289million within three years,” Adam Mutawakilu asked?

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