[ad_1]
• Mr Paa Kow Ackon – The Communications Director, PPP
The Progressive People's Party (PPP) has observed that the economy has seen marginalization in the macroeconomic indicator.
It is, however, concerned that the structure of the economy still remains the same, denying it the chance to grow at double digit.
The party is, therefore, of the view that a re-focused vision and strategy were needed to transform the economy from lower middle income to high income one.
Town hall readings
In a statement signed and issued by the Communications Director of the PPP, Mr. Pa Kow Ackon, in Accra yesterday, the PPP recounted that on Wednesday, April 3, and Thursday, April 4, 2019, Ghanaians were subjected to two Town Hall readings organized by the ruling New Patriotic Party (NPP) and the opposition National Democratic Congress (NDC) respectively, to let Ghanaians know how the nation's economy has been managed.
But the PPP contended that many Ghanaians were of the view that they did not need to be told what the reality was on the ground by those political parties.
According to the party, the Ghanaian economy should be explored, that it could only occur when Ghanaians owned and controlled the factors of production and reinvested the profits over and over again in Ghana.
Furthermore, that Ghanaians are able to afford food on the table, afford to acquire homes, have money in their pockets, work in Ghana.
Changing the trend
To change the trend, we need to make the market more sustainable, and we need to make sure that we grow and use what we produce in Ghana.
"We further advocate support for businesses of low interest loans, tax incentives, technical support and priority access to the country." The PPP insisted.
According to the World Bank, the statement said, the sector is most heavily traded in the United States and the retail trade, which depends solely on other countries.
"It is also the sector with the lowest productivity. Meanwhile, the manufacturing sector, where they are more promising, has seen a decline in employment and productivity levels. This is a result of the local business case, which is compounded by an unstable and high cost of power, "the statement added.
On the re-emerging power crisis, the party said it was instructive to pay attention to the World Bank's 2018 report on "Energy Sector Transformation Initiative Project" which provided Ghana with 84 percent of its population to electricity supply, high costs and operational inefficiencies had created serious financial difficulties.
According to the PPP, it is rather unfortunate that, as a result of these factors, it has been estimated that US $ 794 million was revenue.
"The party maintained." "It is our opinion that the people of the world are in a good position.
Other recommendations
The party also strongly recommended that special incentives be provided to enable the development of alternative sources of energy and biofuels and solar power, to reduce the cost of power and to support the nation's industrialization drive.
Going forward, the PPP said the country needed tangible reforms geared towards effectiveness and efficiency.
A good place to begin, it said, would be to reform the public sector to reduce the public sector wage bill, to allow more fiscal space to respond to changing priorities and circumstances. That, the party said, would be better by tackling corruption seriously.
"What we need is a more diversified economic structure, driven by the private sector, to create millions of job opportunities for our people," the PPP proffered.
[ad_2]
Source link
