Mid-Year Budget: We’re happy Ofori-Atta indicated that our concerns are very critical to him -IPPs
Elikplim Kwabla Apetorgbor, the Chief Executive Officer (CEO), of the Independent Power Producers (IPPs), has expressed his delight that the government has acknowledged the critical significance of his organization’s concerns in the mid-year fiscal policy review of the 2023 Budget Statement and Economic Policy, which was present by the Finance Minister in Accra, on Monday, July 31, 2023.
The IPPs owe the government more than $2 billion, and recently, the power producers were forced to consider shutting down their power plants if the government failed to pay their debt.
However, Mr. Apetorgbor stated that the mid-year fiscal policy review captured some strategies the government was putting in place to address their concerns on Accra-based Citi FM.
“I am happy that the Minister of Finance indicated that our concerns are very critical to him and the government. He made some indications regarding some strategies that they are putting in place. He mentioned an updated cash waterfall mechanism,” he said.
“He also indicated the government’s support to ECG to improve its collection so that it can meet its revenue targets and pay the IPPs,” he added.
Mr. Apetorgbor said that the government had made some assurances to them about addressing their needs.
“We had some engagements at the eleventh hour and some assurances. The process has started and we received an assurance that the process will continue, or the assurances will be fulfilled,” he added.
