The Independent Power Producers of Ghana (IPPs) have said they are expecting government in the 2023 mid-year budget review statement to be read in parliament Monday, July 31, 2023 by the Minister of Finance, Ken Ofori-Atta, to allocate some funds to support the Electricity Company of Ghana (ECG) to clear all outstanding debts owed them.

According to the Chief Executive Officer of the Chamber of Independent Power Producers, Elikplim Kwabla Apetorgbor, it is about time they receive what is due them because they have been starved for far too long.

In an interview with Starr FM, he said, “Unless there is a specific provision aside from the supplementary budget I expect the budget allocation to support ECG to pay the arrears to Independent Power Producers...We have been starved needlessly for almost seven months into the year. If not for the good faith that we have towards our clients or contract you can imagine what the outcome will be.”

It would be recalled that the IPPs threatened to cut power supply if government does not pay the arrears.

But they later rescinded their decision after stakeholder engagements with government.

The presentation of the mid-year budget review statement is in accordance with the provisions of the Public Financial Management Act 2016.

The Act mandates the Minister of Finance to present the mid-year review of the budget statement on the Economic Policy of the Government of Ghana for the fiscal year.

It aims to provide a platform for government to update the House and citizens on its economic progress as well as outline any necessary adjustments to the budgetary allocations and policies.

ESA/OGB

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