The Minority in Parliament has warned management of the GNPC against presenting a $431 million loan facility before the house for approval.
According to the NDC MPs GNPC is being coerced by government to take the $431 million facility from Litasco using oil as collateral.
Speaking to the media ranking member for finance committee Isaac Adongo argued the arrangement breaches the terms of the IMF program which bars the government from taking commercial loans with collateral.
Mr. Adongo warned Parliament will not be party to such an illegality.
“The truth is at the time the work program of GNPC the previous year around November to December we did not have an IMF program. Subsequently we have had an IMF program that imposes some obligations on us.
“One of the obligations is that the government is barred from taking collateral loans,” he explained.
Source: Ghana/Starrfm.com.gh/103.5FM
