In a statement announcing the cancellation of the PDS agreement on Friday, government will fast-tract the process without compromising the integrity and transparency of the exercise.

According to the statement, Government was considering restrictive tendering because of the limited time until the expiration of the Compact II program.

“Whilst recognising the prerogative of the MCC in the determination of a particular procurement method in the selection of a PSP, in view of the limited time (approximately two years) until the expiration of the Compact II Program, Ghana hereby recommends the adoption by the MCC/MiDA of a restricted tender process to replace PDS.

"This restricted tender process shall be undertaken timeously by fast-tracking some of the processes without compromising the integrity and transparency of the procurement processes,” government said in a statement.

The government announced the suspension of the concession agreement earlier in August after some fundamental and material breaches were detected on the part of PDS.

"The Government of Ghana, through the Ministry of Finance and the Electricity of Ghana, has suspended the concession agreement with the Power Distribution Services (PDS) Ghana Limited with immediate effect,” the statement signed by Kojo Oppong Nkrumah said.

“The decision follows the detection of fundamental and material breaches of PDS’ obligation in the provision of Payment Securities (Demand Guarantees) for the transaction which have been discovered upon further due diligence.

“The Demand Guarantees were key prerequisites for the lease of assets on 1st March, 2019 to secure the assets that were transferred to the concessionaire.”