Trade Ministry asks DICs to help pay ¢197m debt and win contracts

Details

Category: Uncategorised

Created on Friday, 19 June 2015 00:00

Trade Ministry asks DICs to help pay ¢197m debt and win contracts

19 June 2015

Intercepted Trade Ministry documents have revealed that government has asked Destination Inspection Companies (DICs) to contribute towards repaying a Bankswitch judgement debt in exchange for contracts.

                                                                                                                                                                       More Details

A letter signed by the Trade Minister, Ekwow Spio-Garbrah, asked the DICs with the capacity to contribute $35 million each towards repaying the judgement debt to assist government.

Bankswitch Ghana dragged the government to the Permanent Court of Arbitration in The Hague after their contract was terminated by government.

The IT solution and services provider was awarded damages in excess of 197 million cedis by the court.

In the letter dated June 3, 2015, Dr. Spio-Garbrah asked the DICs to contribute to pay up the judgment debt in exchange for contracts.

The letter stated: “To pay this debt, government of Ghana is informing all destination inspection companies that any of them who can advance government of Ghana an amount of 35 million dollars would be awarded a contract of 0.35 percent of free on board values on all Ghana’s imports for at least a period of five years to enable that company recover its investments”.

According to the letter, for the 0.35 percent FOB payment, any of the companies which makes the 35 million dollar contribution will do relevant trade facilitation within the context of the National Single Window and work with West Blue on aspects of that exercise.

However, West Blue will be paid separately.

All DICs were given until midday of June 8, 2015 to respond with an expression of interest.

They were also required to indicate how soon they will make the 35 million dollars available.

The letter in its first paragraph indicates that the contract of destination inspection companies comes to an end on August 31, 2015.

It says government has decided to implement a national Single Window from September 1, 2015. It discloses that West Blue Consulting has been identified to implement the single window programme.

Source: Myjoyonline