Business News of 2014-05-17

Gov’t committed to implementing Senchi Consensus – Minister

The Finance Ministry says it will be coordinating with other agencies to implement all the recommendations that came out of the National Economic Forum. The meeting ended on Thursday with a 22-point recommendation for government to quickly implement.

However, some have raised questions about whether government would have the political will to implement all these proposals.

Deputy Minister of Finance, Ato Forson told Joy News they would not spend all these time to put together this programme and do nothing with its recommendations.

"The Ministry of Finance is very committed to this. You could see clearly from the consensus that we are doing a number of engagement and i believe over all we will be able to implement it".

He said there will be an emergency meeting on Monday at the Finance Ministry to consider how to the implement the recommendations.

The Forum ended Thursday with participants agreeing to what has now been christened the Senchi Consensus.

The 22- point consensus includes:

"That long term national interest should supersede all other interests.

"That the State encourages and promotes indigenous entrepreneurship and continues to execute projects and programmes commenced by the previous Government.

"Foster a state whose day-to-day management is supported by a professionally competent civil service working in an environment devoid of political victimization and intimidation and where support for the Government is not interpreted as political affiliation.

"It is imperative to strengthen the public accounts and finance committees of Parliament to play their oversight responsibilities more effectively; and also to develop a mechanism for effective synergy and coordination between the Monitoring Units of Ministries, Departments and Agencies (MDAs), the National Development Planning Commission (NDPC) and the Office of the President.

"That a mechanism to effectively monitor, evaluate and reform the use of statutory funds transferred to public sector institutions such as the District Assembly Common Fund (DACF), National Health Insurance Authority (NHIA), Ghana Education Trust Fund (GETFUND) must be established.

"That government should establish a One-Stop-Shop for investments, electronic templates to simplify business processes, streamline the activities of the Ghana Export Promotion Council (GEPC), Ghana Investment Promotion Council (GIPC) and Free zones Board, and strengthen the capacity of the Ghana Statistical Service (GSS) and other statistical reporting agencies to deliver reliable and timely economic and social statistics for planning, research and development."

Source: myjoyonline.com
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