Government to clear GHC250 million debt owed VRA, TOR

Government has initiated steps to clear the debts owed Volta River Authority (VRA) and Tema OIL Refinery (TOR).

Per the agreement with the banks and other stakeholders, government effective next month (September) will pay GHC250 million upfront.

Speaking at a media briefing on the Energy Sector Legacy Debts, the Minister of Finance and Acting Minister of Power, Seth Terkper said the agreement was reached through the concerted efforts of all stakeholders.

He said government is committed to clearing the debts in order to enable the VRA and TOR operate effectively whiles clearing the non-performing loans of banks.

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