Business News of 2014-04-27

New economic model in the offing

A draft of a new economic model, which seeks to break the vicious economic cycle which Ghana has endured over the years would be outdoored in May.

It is the product of our experience, vision, desires and aspiration as people who want to reconstruct the very foundation of our economy. We are charting a new economic planning path where the activist role of the State would be paramount, Mr Paul Victor Obeng, Chairman, National Planning Commission, told workers in Tema.

Addressing workers at a symposium organised by the Tema District Council of Labour of TUC, on the theme: Ghana’s Economy: concern for all, Mr Obeng said all manner of persons would be invited to scrutinise the model to make it more transformational, diversified and devoid of the inequality factor.

According to him, the state as an interventionist in socio-economic matters would ultimately insolate the vulnerable from the pressures of economic transformation while encouraging them to join the crusade of national transformation.

Mr Obeng asked Ghanaians to use the current multi party political dispensation as an avenue to identify and discuss pertinent national issues devoid of violence and hostility.

We have an opportunity to deliberate on matters of national importance. Lets debate to determine what idea is convincing and work at it. That would be a multi party political dividend.

According to him, some people do not realise the benefits of the political dispensation especially when they assess the financial cost of running institutions of state but encouraged Ghanaians to subject every thought to debate, which is the most effective way of finding solutions to difficult national issues.

He said the country is experiencing crises of transition from a lower income country to a middle income status, which meant that certain grants and financial privileges accorded the nation would not be forthcoming.

He called for support and patience as government engages the total population to manage the transition which had raised hopes and expectations among the people.