Deputy Minister of Information, Mr Pius Enam Hadzide, has said Ghana will not have her sovereignty bought for USD500 million in reference to the recently-terminated concession agreement between the government of Ghana and Power Distribution Services Limited.

The concession agreement was part of a deal (Compact II Programme) with the Millennium Challenge Corporation (MCC) and the Millennium Development Authority (MiDA) of the United States of America (USA) that would see Ghana benefit from some $500 million for allowing private sector partnership in the energy sector.

But according to the government, PDS' demand guarantee cannot be verified.

Al-Koot, the Qatari company which allegedly issued the said demand guarantee, has denied issuing any such guarantee, making the Minority to raise concerns of fraud.

The government, following the termination of the deal, proposed to resort to restrictive tendering in selecting another private partner for the management of the power sector in the country.

Speaking to Benjamin Akakpo on Class91.3FM’s Executive Breakfast Show about the consequences the government’s action portends for Ghana as far as her relationship with the US and the future of the Compact is concerned, Mr Hadzide said: “The interest of the MCC, we believe, should be in keeping the Compact hinged on private sector participation in the distribution of electricity. And we are committed, in principle, to that idea of private sector participation”.

“We have challenges with a participant, PDS, but that participant can always be replaced by another participant, and, so, in principle, there will not be any challenge to the Compact. And, so, we believe it will proceed in due course”, he asserted.

According to him, “Our sovereignty cannot be sold on the altar of some US$500-or-so million dollars”, adding: “We are grateful for the assistance of this nature; it’s a global village, we also offer assistance as and when we are able to, that is fine, but at the end of the day, no matter the monetary consideration, the interest of Ghana and the protection of Ghanaian assets will not be compromised on the altar of any amount of money that may be coming from anywhere. I do not believe that is the attitude of this government”.