Business News Tue, 30 Jun 2015

ICU plans to hit the streets

The Industrial and Commercial Workers Union (ICU) says it will, on July 8, 2015, embark on a demonstration to protest against what it describes as worsening economic conditions which have led to the collapse of many industries in the country.

The demonstration is expected to highlight issues on the implementation of the petroleum price deregulation policy, the dollarisation of the economy, rising inflation, unbridled trade liberalisation policies, power outages, corruption, among others.

The General Secretary of the ICU, Mr Solomon Kotei, who confirmed this to the GRAPHIC BUSINESS in Accra, indicated that the demonstration would be staged in Tema to send a word of caution to the authorities that Ghanaians were dissatisfied with the manner in which the economy was being managed.

He noted that the government’s decision to implement the petroleum price deregulation indicated that it had run out of ideas and, therefore, it should be booted out of office.

“For this reason, the union will continue to exert pressure on the government until it initiates action that will improve the economy,” he said.


According to him, the growth of every economy was based on industries and so the union would not allow the government to collapse the few industries left.

“It is, therefore, important for the government to provide an enabling environment and infrastructure for industrial growth, as against the adoption of foreign policies that are inimical to the country’s development,” he said.

He called on the government to cut down unnecessary expenditure as a matter of urgency and also purge itself of corrupt officials.

Mr Kotei noted that the implementation of the petroleum price deregulation would create an avenue for OMCs to dupe ordinary Ghanaians.

“In terms of the timing, it was very bold but a dangerous policy direction, given the kind of economic dynamics that we are operating in now,” he warned.Mr Kotei said the ripple effect of the price hike at this time would be high cost of production for industries, which would eventually lead to their closure.

Source: Graphic.com.gh