A former Deputy Power Minister, John Abdulai Jinapor has lambasted the Akufo-Addo-led administration for initiating the gold for oil deal.
The former minister believes the initiative is a disaster waiting to explode.
In a statement, he said “the so-called Gold for Oil deal being championed by the Vice-President, Dr. Mahamudu Bawumia in an opaque and loud manner, is nothing but a charade that will end up piling unsustainable debt just like the so-called Sinohydro deal.”
He buttressed further that the NPP government “after insisting that the Sinohydro agreement was a barter deal, the current government has just witnessed an embarrassing spectacle following the insistence by the IMF that the deal is nothing but a loan agreement and must reflect in the national debt accounting.”
He contends that the policy is not well thought through and must be reviewed since it can result in the smuggling of Gold across Ghana’s borders.
The Yapei Kusawgu legislator noted that “the PMMC, which is the assayer of Gold in Ghana, has proven to lack the financial capacity and experience in gold trading. This knee-jerk policy is nothing but an attempt to fleece the Artisanal and Small Scale Miners.”
He therefore called on the government to consult further and build consensus before proceeding with the policy.