Mr. Jinapor thus said he has written to the MCC and\u00a0Millennium Development Authority (MiDA), \u201cto seek confirmation of a change in this agreement.\u201d<\/p>\n
Minority stake for concessionaire would not work<\/strong><\/p>\n The MP noted that, under the Mahama administration, during the negotiations with MCC and MiDA, they considered offering a minority stake, but indications were that\u201d the market was not going to be responsive if we insisted that the concessionaire should own a minority stake because the concessionaire was supposed to inject a minimum of $250 million and also run ECG effectively and efficiently.\u201d<\/p>\n \u201cWhat they indicated based on the findings and the research we conducted was that, if you say that the concessionaire should own a minority stake, it [the deal] would not work,\u201d he added.<\/p>\n In view of this, Mr. Jinapor said, \u201cfirst of all, we need clarification from MiDA and we need confirmation from the MCC whether indeed there has been an agreement to change the initial agreement, such that the concessionaire will own only 49 percent, which will be a minority stake, and if that is so, what has informed that change in position?\u201d<\/p>\n \u201cI think that within the shortest possible time and with a sense of urgency, the MCC and MiDA must come clean on this subject matter because it is a national issue. If they have reviewed the agreement, if they have changed it, they should let us know.\u201d<\/p>\n
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