Accra, Feb.23, GNA - President John Agyekum Kufuor on Monday warned that the Government would no longer allow any group or individuals to milk the Volta River Authority (VRA) as a cow because such an attitude would affect the economy.

"Government will not allow any group or individuals to use the VRA as a milk cow because when such a thing happens it affects the economy", he warned.

President Kufuor gave the warning when administering the oaths of office and secrecy for a seven-member reconstituted Board of Directors of the VRA at the Castle, Osu.

They are, Mr Osei Asamoa-Bonsu, Chartered Accountant, Chairman; Mr Teddy Konu, Registrar of the University of Ghana (UG) Legon; Mr Yonny Kulendi, a Legal Practitioner and Mr Samuel Kwasi Asare, Managing Partner of Asare-Tsibu and Partners.

The rest are, Mr Abraham Kofi Asante, a Development Consultant, Mr Kwabena Twum Obese-Jecty, Director of Finance, VALCO and Miss Abena Oduro, Senior Fellow of the Centre for Economic and Policy Analysis (CEPA).

President Kufuor said the VRA played a unique and important role in the society and governance of the Ghana adding, "it is a strategic asset to Ghana's development and should not be toyed with".

He said for the past two years government had to make changes in the Management and Board of the VRA to make it operate efficiently and effectively.

Therefore, President Kufuor asked the new Board to assume responsibility over the VRA to ensure sound and purposeful management of Ghana's strategic asset.

"Government is not taking the efficient and effective management of the VRA very lightly at all. I hope you can deliver to the vision of Government on VRA being collectively aware of the nation's vital interest in the VRA", he said.

He appealed to the Board not to meddle in the day-to-day technical running of the VRA because it was the Management that was answerable to the Board.

President Kufuor said since the tenure of office of President Kwame Nkrumah, who took over the responsibility of appointing the Chief Executive of the VRA, unfortunately the VRA that could spin wealth had now fallen into debts.

He was optimistic that the fortunes of the VRA could be turned around only through an efficient Board that was focused.

President Kufuor said the Government would ensure that their operations did not deviate from the high purpose of the Board.

He said the VRA was now the pinnacle of the energy sector of the economy and the other components of the sector being complex, government had undertaken a review of the sector to restructure it for the benefit of society.

President Kufuor, therefore, called on the Board to co-operate intelligently and purposefully with officials appointed to undertake the restructuring.

He said Ghanaians expected good co-operate performance from the Board, they should not drag their feet in their operations and take account of the interest of the staff because without them the VRA would fail to perform its duty to the country.

"Be firm and show humanity to the Management, work as a team and when you work with distinction, the nation will be faithful to you. Please do not disappoint Ghana", he said.

Mr Asamoa-Bonsu said with the financial position of the VRA, the Board would co-operate with the previous Board and the Interim Management Committee (IMC) to re-engineer the sector, build bridges at the various levels of the management and staff to make it a viable organisation. He said the Board was aware of the impending restructuring in the sector and would commit themselves to achieve positive results.