The Minority in Parliament has warned the Ghana National Petroleum Corporation management against presenting a $431 million loan facility before the house for approval.

According to the NDC MPs, GNPC is being coerced by the government to take the $431 million facility from a company named Litasco using oil as collateral.

Ranking Member for the Finance Committee, Isaac Adongo, speaking to journalists on September 28 argued that the arrangement breaches the terms of the current IMF programme, which bars the government from taking commercial loans with collateral.

Adongo further warned that parliament will not be a party to "such an illegality".

"They should not even dare to invite parliament to consummate the illegality they are about to undertake. The conduct so far suggests that they are keen to breach the agreement they signed with the IMF. Otherwise, they would not even go to the GNPC Board to approve any term sheet, go to Ministry of Energy [to] go and get no objection, go to Ministry of Finance...and Ken Ofori-Atta you don't even read the agreement you signed then you give no objection and the president approved it... They can do it there."

He added, "They don't even respect the laws of Ghana. So they should just stay there and do it. Then we will know that they don't respect Parliament. But they should not even invite us to be part of that process that "

Meanwhile, Minority Leader Dr. Cassiel Ato Forson on his part, cautioned that his side will not take part in the approval of a deal which he said is in flagrant disregard for the dictates of Ghana's 17th IMF programme

NOQ

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