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GNPC Must Be Wise And Patriotic – Gabby   
 
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12-Nov-2014  
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Executive Director of Global Dynamic Consult, Gabby Asare Otchere-Darko is questioning the motive behind the entrenched position taken by the Ghana National Petroleum Authority (GNPC) over the acquisition of a loan without parliamentary approval.

The Corporation is seeking a $700million to, among other things, support GNPC’s increasing oil and gas infrastructure investment and cash call requirements from its participating and commercial interests.

But the loan acquisition has generated controversy with the minority in Parliament describing the deal as illegal.

The minority MPs of the opposition New Patriotic Party (NPP) has questioned the procedure used in acquiring the loan.

But Chief Executive Officer of GNPC, Alex Mould has mounted a strong defense insisting that they followed due process in accordance with the section 15 of the National Petroleum Corporation Act, 1983 (PNDC) Law 64.

He maintained that GNPC did not need approval from Parliament before securing the loan.

However, Gabby Otchere-Darko on Asempa FM’s Ekosii Sen programme Tuesday, expressed disappointment in the stubbornness of the GNPC.

He noted that the defense by Alex Mould is flawed because when the PNDC Law 64 was stipulated, there was no Parliament thus it is unlawful for the deal to pull through.

“The whole argument about value for money should be accepted by the Corporation because it is about being wise and patriotic,” he stressed.

Mr. Otchere-Darko maintained Ghanaians will be shortchanged if GNPC is given the green light to go for the loan.

“If GNPC uses the oil as collateral for the loan, it places a higher responsibility on the consolidated fund, taxes and the people of Ghana than just a guarantee”.

Gabby could not fathom the difficulty of taking the loan agreement to Parliament if it is justifiable.

“If the purpose to which they want to use this fund are genuine they should send it to Parliament”.
 
 
Source: Adomonline.com
 
 

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