We’re losing $40K daily – Exton Cubic

The Exton Cubic Group Limited has disclosed that they are losing over $40,000 daily as a result of the seizure of their equipment by government.

According to Officials of the firm in a press conference, the losses started 5 days ago, when vehicles belonging to its sub-contractor, Engineers and Planners were impounded in the Nyinahin Township on the orders of the Ashanti Regional Minister, Simon Osei Mensah.

Exton Cubic maintains that the Minister’s action is unfair and illegal. Exton Cubic was alleged to have been operating in the area illegally, despite the company’s claims to the contrary, which were backed up by the Minister for Lands and Natural Resources.

Some critics have stated that the company’s operation did not go through Parliament and therefore should be nullified.

Communications Manager at Exton Cubic Sammy Gyamfi said the deal does not require Parliaments attention. He said they are in talks with their lawyers to take legal action against the agencies frustrating their efforts since they are suffering heavy financial losses over that halt in their prospecting activity.

“The requirements under the laws of Ghana doesn’t speak of Parliamentary approval, if you speak of Parliamentary approval it means you need prior approval before you can do such a thing. we have all our permits, Engineers and Planning have not committed any offence, Exton Cubic has not committed any offence but we have been told by the minister that he is not ready to meet with us and that is why it has become a legal issue and we trust that our lawyers will deal with that”.

 

Source:

Ghana/StarrFMonline.com

Categories: News

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