PDS deal suspension unfortunate but be circumspect in your comments-MiDA

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The Millennium Development Authority (MiDA), reacted to the suspension of the Power Distribution Services following breaches detected.

MiDA in it’s statement welcomed the decision by government to probe the matter.

The statement described the nursing brouhaha as an “unfortunate setback”.

It further posited that “each step of the ECG PSP transaction process, prior to the handover of ECG’s distribution business and assets to PDS, was subjected to careful scrutiny and various stakeholder approvals.”

“These involved several documents submitted as requirements for the transaction process. In line with best practice in International Business Transactions, all documents submitted as part of the transaction were accepted on the basis of good faith and the presumption in law as to their validity,” the statement added.

It however, administer the public “to be circumspect in drawing conclusions not supported by facts and evidence while investigations are ongoing.”

By: Rashid Obodai Provencal

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