Govt’s intention to mortgage gas reserve not best - Kojo Poku

Energy expert, Kojo Poku says government’s intention to mortgage Ghana’s gas reserve with China for any Chinese loan is unjustifiable.

The New Patriotic Celebration in a press conference earlier this week alleged that government has taken a choice to mortgage its gas reserve with china.

The move in accordance with the celebration will be to lure China Improvement Bank to reactivate the remaining two billion dollar Chinese loan.

Acting Minister of Power who doubles because the Finance Minister, Seth Terkper, has confirmed government’s intention to mortgage it for any period of 19 years beginning in the year 2018.

But Kojo Poku says government could wait to utilize her natural sources to achieve what it desires as an alternative to mortgaging it.

He wondered why government will think about mortgaging a essential resource like gas. “Why do they ought to mortgage our gas reserve to have the cash now to perform what? Definitely something that you mortgage is discounted as well as the discount is heavily. So what's the rush to get the cash that we can not wait to make use of our own sources for the betterment of Ghana?”

He added, “The only purpose you might desire to mortgage one thing is simply because that you are in need of money”. “…Is the same factor that we did with our oil reserve.

Most of our oil reserve that we are bringing out now, part of it was applied to obtain the loan for the gas plant. If we keep carrying out that the threat involved in mortgaging our reserve is that it truly is heavily discounted,” he noted.


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