The Micro Finance and Small Loans center (MASLOC) has today [Tuesday] delivered 83 buses to the Ghana Road Transport Union (GPRTU) to work and pay over a 3-year period.

It would be recalled that MASLOC procured these buses for private transport operators in 2016 but the vehicles were abandoned for years over claims of overpricing.

The vehicles acquired by MASLOC were left abandoned because their intended beneficiaries, the GPRTU, rejected them since the former management and government inflated the cost of the vehicles to US$2million.

Investigations by rainbowradioonline.com in 2017 revealed that the vehicles, comprising 100 33-seater buses and 250 saloon cars, were to be used for commercial operations.

The vehicles were purchased for GPRTU but the transport operators rejected the vehicles because of the alleged overpricing.

The Chief Executive Officer of MASLOC, Stephen Amoah, told Rainbow Radio in an interview that the transport union rejected the vehicles because they are overpriced.

He disclosed at the time that the GPRTU agreed with the government to purchase a saloon car at a high purchase but the price was GHc85, 000 including insurance, one percent interest, and other cost but the union rejected the offer.

The buses were to be purchased by GPRTU at a cost of GHc700, 000 each but they refused to purchase them claiming the buses were overpriced.

But after renegotiation, GPRTU has taken custody of the vehicles at a cost of GHc300, 000.

Speaking at the handing over ceremony, CEO of MASLOC, Stephen Amoah expressed joy that GPRTU has finally taken the buses.

He further expressed gratitude to other stakeholders in getting these buses where they are today.

He also announced that MASLOC has done so well by reducing the interest rate by 50% from 24% per annum to 12% per annum.

He said an amount of GHc20,000 could be borrowed without collateral.

The Board Chairman of MASLOC, Mr. Seth Adjei Baah aka Shaaba admonished the GPRTU to use the buses decently and achieve the target for the repayment.

He also asked the GPRTU to use the buses as a way to improve the transport system as well as improve their income and contribute their quota to the national development agenda.

Touching on road accidents and the need to maintain discipline on our roads, he encouraged GRPTU to operate the buses in a manner that would help promote safety and curb the carnage on our roads.

Chairman for the GPRTU, Mr. Kwame Kumah on his part described the ceremony as beautiful and great.

He extended gratitude on behalf of the GPRTU to the Chief of Staff, Frema Opare for her role towards the renegotiation.

He advised drivers who would have access to the buses to make good use of them.