Parliament undecided over $100m Karpower investment by GNPC

Parliament undecided over $100m Karpower investment by GNPC

Parliament came to a standstill when discussions on the decision of the Ghana National Petroleum Corporation (GNPC) to give 100 million US dollars guarantee to the operators of the Karpower came up.

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Alex Afenyo Markin the minority's Efutu constituency member of parliament asked the reason why the Corporation would commit public funds to a private entity without prior approval of Parliament. The majority members however, stated that they believed due diligence had been duly followed.

Afenyo Markin expressed worry about why the petroleum body would go out of its way to render support to a private entity and not rather commit such funds for its core business. He noted: "It is only this House that can approve for the purpose of our population, or any mandate held by the GNPC."

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This claim was however opposed by Emmanuel Armah Kofi Buah the petroleum minister who said the decision by the GNPC was not in contravention of any law but rather operating within its mandate as spelt out by PNDC Law 64.

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