{"id":296593,"date":"2017-02-23T13:45:43","date_gmt":"2017-02-23T13:45:43","guid":{"rendered":"http:\/\/citifmonline.com\/?p=296593"},"modified":"2017-02-23T13:45:43","modified_gmt":"2017-02-23T13:45:43","slug":"consider-using-pension-funds-to-support-power-sector-puwu","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/02\/consider-using-pension-funds-to-support-power-sector-puwu\/","title":{"rendered":"Consider using pension funds to support power sector – PUWU"},"content":{"rendered":"
The Public Services Workers Union (PUWU) is advocating for the use of workers\u2019 pension funds to finance the nation\u2019s power production sector.<\/p>\n
This, in PUWU’s view, could present an alternative to government’s plan to list the Volta River Authority (VRA) and the Ghana Grid Company (GRIDCo) on the stock exchange as part of its\u00a0master plan for the electricity sector.<\/p>\n
[contextly_sidebar id=”L4Ey1nC6q8EbwB7HqY1aR9FhcFKRRjZv”]Government said this would strengthen the power sector along with the competitive procurement process, thus reducing the cost of power projects and ensuring value for money.<\/p>\n
Speaking on Eyewitness News,<\/strong>\u00a0the General Secretary of the Union, Richard Ampabeng said other countries have succeeded using pension funds.<\/p>\n He noted that “everywhere in the world, especially Canada that I know of, they make use of their workers\u2019 pension money because this is long-term money and they use it in listing their electricity. The\u00a0UK itself is using their workers\u2019 pensions in driving the companies that are coming to Africa to privatise our electricity.\u201d<\/p>\n \u201cSo why can\u2019t we as a nation say that we are listing these companies but strategically, we are using our pensions to run it so that everybody will now own this company?\u201d<\/p>\n Mr. Ampabeng, however, stated that governments openness to engagement and consultation on the matter was in the right direction.<\/p>\n –<\/p>\n By: Delali Adogla-Bessa\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" The Public Services Workers Union (PUWU) is advocating for the use of workers\u2019 pension funds to finance the nation\u2019s power production sector. This, in PUWU’s view, could present an alternative to government’s plan to list the Volta River Authority (VRA) and the Ghana Grid Company (GRIDCo) on the stock exchange as part of its\u00a0master plan […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[3,3371,334,4339,1838],"yoast_head":"\n