The Independent Power Producers Chamber says they are not ready to discuss any debt exchange program for the power producers.
The IPPs are objecting to the proposal but are rather asking the government to come up with a payment plan towards the settlement of the about 1.5 billion dollar debt.
Chief Executive of the Chamber Dr Elikplim Apetorgbor, however, commended the ECG for its revenue mobilization drive, hoping that monies collected will be paid judiciously to the power producers.
“There was no meeting anywhere to discuss a debt restructuring program of our arrears. Our members receive a letter proposing the debt restructuring program that was unanimously and outrightly rejected. The arrears in question are already monies we have owed to our suppliers and others, they cannot be restructured.
We are however open to a discussion on an agreement plan.
I must commend ECG for the efforts they have put in this distress and challenging situation. We are hard pressed actually so I encourage them to do more and I don’t expect them to delay the disbursement of what they have collected so far, it should be disbursed expressly,” Dr Apetorgbor mentioned.
