Kwame Pianim, an Economist and former Chairman of the Public Utilities Regulatory Commission (PURC) has praised the commission for its bold action in imposing fines on the Board members of the Electricity Company of Ghana (ECG) for their role in power outages without prior notification to consumers.
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He noted that this serves as a timely reminder to all directors of public and state-owned institutions that they carry responsibilities for which they will be held accountable.
During his appearance on JoyNews’ Newsfile on Saturday, April 20, Mr. Pianim emphasized that every board possesses an audit and compliance committee, tasked with ensuring that management adheres to all agreements and regulations.
He pointed out that when the government implemented the Cash Waterfall Mechanism, it mandated ECG to prioritize payment for raw materials over self-compensation. He emphasized that directors should have verified management’s adherence to this policy.
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“And if they say they didn’t know, then it means the audit and compliance committee was not functioning properly and I’m happy that this is a timely reminder to directors that they have legal and judicial responsibility.
“I’m hoping that the whole country will support the PURC just as they should support the Auditor General when he comes with his findings.
“As we are also supporting the PURC, they should also know that one day, the consumer is going to take them to court for not regulating ECG properly,” he said.
His statement follows the imposition of a fine by the PURC on the Managing Director, Samuel Dubik Mahama, and members of the ECG board who served between January 1 and March 18, 2024.
The fine, amounting to GH₵5,868,000, stems from the board’s breach of Regulation 39 of L.I. 2413, which requires prior notification to consumers in case of any power interruptions.
The Economist emphasized that directors of the ECG must understand that they require responsible and competent professionals.
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