'There is no free lunch' - Nana Akomea backs ECG & GWCL tariffs increase

Managing Director of the State Transport Corporation (STC), Nana Akomea, has backed the Electricity Company of Ghana (ECG) and Ghana Water Company Limited (GWCL) for demanding 148% and 334% increases in tariffs respectively.

ECG has proposed a 148 percent increase in electricity tariffs stating this is due to the cost of investment projects they are undertaking and to help them become more efficient and render quality service.

On the part of Ghana Water Company Limited, the cost of water production has gone high, hence the need for over 300% increment.

Contributing to Peace FM's "Kokrokoo" programme, Nana Akomea questioned the logic in opposing the tariff increments.

He explained that the utility companies need the increments to help boost their operations because if they risk collapsing their cost of operations remains huge coupled with rickety machinery issues.

Citing GWCL pump lines which have been in place for over 50 years, Nana Akomea argued that the companies' demands should definitely be met to give them the opportunity to upgrade their machines and provide consumers quality service.

He added that the utility companies are also struggling because of the country's currency depreciation and other economic factors which are taking a negative toll on their operations.

"What do you want them to do when your currency is unstable and their running cost is huge?" he asked.

He appealed to the consumers to accept the demands of the companies stating "they need to help them or else they will break down" and stressed, "there is no free lunch".