Former deputy minister John Jinapor, in charge of energy, claims that the government has not held talks with independent power producers (IPPs) despite their pledge that they will fight any move to restructure the US$ 1.4 billion debt owing to them.

In spite of the challenges Ghanaians are going through during this economic crisis, he charged that the minister of finance, Ken Ofori-Atta, was out of touch with reality.

Speaking on CitiFM’s Eyewitness news and monitored by GhanaWeb Business, Mr Jinapor said, “They [IPPs] have said earlier that they will not accept it and the Minister hasn't even had the courtesy to meet them so he is living in a different world. He is missing all the targets.”

On Tuesday, June 27, 2023, the Independent Power Producers made it clear that they would not accept any debt restructuring proposal from the government. The Chief Executive Officer of Independent Power Producers, Elikplim Apetorgbor, expressed concern that if the government fails to settle its debt amounting to US$1.4 billion, it could lead the country into a power crisis.

Mr. Apetorgbor stated that his organization had previously informed the government of the need to pay at least 30 percent of the outstanding debt. The Independent Power Producers, which include Karpowership, Sunon Asogli Power Ghana Ltd, CenPower Generation, AKSA, Twin City Energy, and Cenit Energy, are responsible for about 65 percent of the country's thermal power generation.

He further highlighted that the Independent Power Producers have already faced challenges in making their first-quarter payments and expressed concerns about defaulting on their second-quarter payments if the government does not settle its dues.

However, the Chief Executive Officer of Independent Power Producers clarified that they are open to considering a payment plan for the government to settle their arrears. Nevertheless, he emphasized that debt restructuring is not an acceptable option for resolving the outstanding payments.