Comprehensive  Ghana Oil and Gas news, information, updates, analysis

News in Brief

Chinese bank releases funds for Ghana gas project

  • SOURCE: | qwesa2big
  • refineryThe Chinese Development Bank has advanced part of the 3.00 billion dollars loan for government to continue with the construction of the Ghana Gas Company, President John Dramani Mahama has announced.

    He said although the restoration of the West African Gas Pipeline would provide adequate gas for the country to achieve its power supply, there was the need to complete the Ghana Gas Company project to make the country self-sufficient and a net exporter of the commodity.

    President Mahama announced this during his initial remarks before holding a closed-door meeting with members of the Private Sector Advisory Council, headed by Dr Kwesi Botchwey, a former Minister for Finance and Economic Planning on Saturday.

    The Council, which was established by the President a few months ago, is mandated to coordinate all activities pertaining to business between government and the private sector in the country.

    The members, who would also discuss the challenges confronting business and device long lasting solutions to those challenges, are made up of representatives from the Association of Ghana Industries, the Ghana Chamber of Mines, the Ghana Group of Publishers, the Ghana Exporters Association among others.

    President Mahama announced that in view of the economic challenges in the country, government had initiated certain measures to ameliorate the situation in the coming months.

    He said the government would soon hold a forum with organised labour to fine-tune the way forward in the rising wage bills as a result of the implementation of the single spine salary structure.

    The President said government would soon fix the energy challenges that would ensure regular power supply to make businesses comfortable in their operations, raise the levies on some inputs among other measures and appealed to the public to bear with government as those measures were geared towards enhancing the needed development in the country.

    He said credit, which had also become a major hindrance to business, would be discussed at length to make businesses comfortable to operate freely.

    President Mahama said the time had come for government to inject seriousness in the support of businesses to grow and promised to draw measures that would stem the influx of cheaper goods that crowd the Ghanaian businesses.

    Source: GNA

    Get the latest news and updates on Ghana’s oil and gas value chain by following us Reporting Oil and Gas on twitter @oilgasghana and like our facebook page and get at us on Google+. Subscribe to our group to get updates.

    Leave a reply

    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes ( with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Twitter Activity Stream

    Partners We are proud to be associated with:

    Skip to toolbar