• Fresh Strike Looms As Workers Lock Horns With Investors
While the DisCos are seriously fighting back, accusing the government of re-nationalising power assets, stakeholders are worried sore over several issues, including if investors would buy the shares seized from the old owners of the DisCos and if the balance of the banks would improve as extant challenges still lay siege to the nation’s electricity sector.
The dilly-dally in the sector, going by a World Bank report, cost the country about $232 billion in the last eight years. That is about $29 billion yearly. Some of the union’s concerns include “inadequate funding and zero allocation to some area offices, lack of operational vehicles/work materials, massive demotion of staff under the guise of restructuring , and increased death rate of members as a result of inadequate medical attention under the cover of HMO.”
“There is no doubt that the current privatisation is not working as planned. The government, in my view, should not interfere directly in the takeover of the DisCos, if the takeover is strictly commercial matter. The DisCos and the banks should negotiate for settlement directly, and if settlement breaks down, then the agreed provisions should be enforced,” he said.
According to him, the directive to relinquish the shares in six months by BPE also remain in order, as the banks are not licensed to run DisCos.