The Government of Ghana has pledged to clear over 720 million Ghana cedis debts owed the Electricity Company of Ghana, with five years.
The move is to ensure that the plan for clearance stays within government’s medium term strategy
Government has also planned to clear arrears owed some contractors, banks and state institutions.
For the payment module, 1.6 billion Ghana cedis will be paid this year, 1.7 billion cedis in 2016, while the remaining 2.1 billion will be cleared in 2017.
In addition, government is hoping to pay the Bulk Oil Distributors about 300 million Ghana cedis in this year.
