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Saturday, September 5, 2009

Ghana@50 probe: Jaguar car dealers to 'cough' $1.08m

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Ghana@50 probe: Jaguar car dealers to 'cough' $1.08m debt to government
Ghana@50 probe: Jaguar car dealers to 'cough' $1.08m debt to government
Commissioners of the Ghana@50 hearing, have authorized the immediate payment of some $1.08 million debt owed government by Fairlop Ghana Ltd, dealers in Jaguar cars.

The luxury car dealers bought back 35 slightly used Jaguars from Government from a total number of 40 they supplied for a successful organisation of the Ghana@50 celebrations in 2007, but have failed to make payments.

Managers of the company have attributed the failure to pay the debt to fall-outs from the transition which they say have made the vehicles unattractive to prospective buyers.

“In the course of the transition people have become apprehensive about the purchase of these vehicles,” one of the officials told commissioners at the Ghana@50 hearing on Thursday.

They have also attributed the failure to sell the plush vehicles to their seeming lack of judgement.

“These are luxury vehicles and it so happens that people who can afford a luxury vehicle want it brand new.”

Chief Executive Officer of the Company, Eric Agyapong, is praying for more time to sell off the vehicles so he would pay off his debts.

Alternatively, he is negotiating with government to take back the vehicles, saying they have not been used ever since they were purchased.

But the commissioners will take none of that.

They insisted it was not part of the purchase agreement for the company to sell the cars before making payment to government.

They also dismissed assertions that the transition played a part in fending prospective buyers away from the vehicles, arguing the company failed to sell any of the vehicles even before the transition controversy started.

They are demanding payment of the $1.08million without delay.

Story by Nathan Gadugah based on report filed by Joy FM's Samson Lardy Ayenini

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