The ongoing impasse in Parliament has disrupted the government’s debt restructuring agreements with Independent Power Producers (IPPs), the Minister of Finance, Dr. Mohammed Amin Adam, has revealed.
During a monthly economic update, Dr. Amin Adam explained that negotiations with five IPPs have reached various stages of completion. While agreements with AKSA have been finalized, and Asogli and Zenit are nearing closure, two others, CenPower and Amandi remain stalled.
“The agreements with CenPower and Amandi require parliamentary approval to proceed,” the Karaga MP noted. “Until Parliament reconvenes and endorses these agreements, they will remain pending.”
The legislative body has been adjourned indefinitely following a legal challenge by the Majority Caucus against a ruling by the Speaker to declare four parliamentary seats vacant. This standoff has hampered the government’s ability to finalize the remaining Power Purchase Agreements (PPAs), critical for restructuring energy sector debts.
Despite the delays, Dr. Amin Adam assured us that the government had fulfilled its obligations under the agreements.
“From the government’s side, we have honored our commitments without fail,” he stated. “Every step has been taken, and not a single dollar has been missed. We are committed to seeing this through.”
The progress comes after months of negotiations and threats by power producers to shut down operations over unpaid debts. However, the impasse in Parliament now poses a significant hurdle to resolving outstanding issues with CenPower and Amandi. Dr. Amin Adam reiterated the government’s dedication to ensuring the agreements are finalized, emphasizing the importance of parliamentary cooperation to support the nation’s economic stability.
BY: STELLA BOTCHWEY
