By Efe Ebelo
Snr. Correspondent, Abuja
Anxiety over the conclusion of the sale of the five generation and 10 distribution companies created out of the unbundling of Power Holding Company of Nigeria (PHCN), heightened yesterday, as the August 21 deadline for the payment of the balance 75 per cent ended, with the Bureau of Public Enterprises (BPE) declined comment on the fate of the process.
Sources however hinted that bid winners of only 10 of the 16 firms had made any efforts to pay the bid sums, after the BPE ruled out any plan to extend the deadline as requested by the bidders, who raised several issues, including the need to pay the severance packages of PHCN workers.
BPE spokesman, Chigbo Anichebe did not pick calls to his mobile phones as at last night.
It is estimated that about N348 billion is needed to pay the workers severance package while N45 billion has been appropriated for the payment in the budget, prompting questions as to how the balance would be sourced.
It was gathered that the reason why they did not make moves to pay the balance 75 percent before now is because they are not sure the Federal Government would be able to resolve the issues with the PHCN staff.
“Their fears are not unfounded as they are buying these plants to make money and this recurring issue of PHCN staff would not be in their best interest. So, they want government to first settle the issues before they bring in their money.
“It is clear that if the issues are not resolve before the payment deadline, they may not pay the balance and government may have no alternative than to shift the date” said an analyst
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