Don’t privatize ECG; list it on Ghana Stock Exchange – ECG workers tell gov’t

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The Public Utility and Public Services Workers Unions have urged the government to consider listing the Electricity Company of Ghana (ECG) on the Ghana Stock Exchange to revamp company.

According to them, this decison when taken will help the national power distributor to raise some funds to run its operations in the country.

The government disclosed it is going to privatize the national power distributor due to the company’s inability to make a profit and provide quality of service to its clients.

The decision was opposed by the workers of ECG who raised issues of job security among others as reasons why the government should not carry out that decision.

They also accused the Millennium Challenge Authority saying its calls for government’s privatization of the company was based on untruths, faulty logic, misinformation, and deception.

However, at a joint meeting, workers of the company have suggested to the government some ways of making the company viable.

In its joint resolution adopted by the workers, they called on the government to adopt the following measures which they believed will help the company rather than privatizing it.

(a)That the government must list the ECG on the Ghana Stock Exchange to raise capital to revamp the company.

(b) That the government should allow ECG to source needed capital from pension funds from SSNIT

(c) That the government wait and assess the results of the strategic Business Units program currently being piloted in the Ashanti Region.

They also called on the government to redeem its millions of dollars debt owed the company.

 

Source: myjoyonline.com

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