Otumfuo Osei Tutu II, the Asantehene, has pushed the Akufo-Addo administration to embrace the harsh realities of the economy and give top priority to measures that encourage industry expansion and boost investment and employment opportunities.
He also recommended incorporating the private sector in order to diversify public firms such as the Volta River Authority (VRA) and the Ghana Grid Company (GRIDCo) and guarantee necessary financial investments.
These statements were spoken at the 430-kilometer natural gas pipeline’s commissioning by Genser Energy, which aims to support the country’s electricity industry.
It’s past time for the government to acknowledge that trying to establish businesses on its own without consulting the private sector is an ineffective strategy. By addressing policies and involving the private sector, the government can draw in more investors and increase employment in the nation.
“Since VRA and other organizations are all run by the government, let’s distribute the funds, diversify them into the private sector, increase funding there, and assign the appropriate personnel to handle it. GRIDCo and others: let’s provide them with funding, enable them to hire skilled individuals, and create a diverse government. The state of the electricity company is unknown, but it too has to be diversified and turned over to the private sector.
When we don’t have the money, why are we still hanging on? We’re going to the IMF and all those for money because we can’t collect all the taxes we want. We are clinging to industries that we are unable to sustain. It’s time to face facts and make decisions about the roles that the public and private sectors should play in society. This demonstrates how the private sector was successful in drawing in investment.
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