IMANI-Ghana and World Bank organise debate on subsidies

Accra, Nov. 13, GNA - The first in the series of national debates on the relevance of subsidies to Ghana's socio-economic development was held in Accra on Friday.

The debate was on the motion: "Subsidies Are Required Now For Ghana's Development". It was being organised by the management of IMANI Centre for Policy and Education, AfricaLiberty.org, World Bank Ghana Country Office, and the media to highlight the need for thorough, balanced and quality discussion of issues that would engage the public and policy makers. Participants agreed that subsidies were important to help sustain young domestic industries, make them more competitive and reduce prices of products to ensure affordability by the poor in society. They contended that health and educational sectors were critical areas that needed support to ensure affordability, but there must be mechanisms to monitor and control abuses or manipulations by stakeholders whose actions and inactions often led to the failure of intended objectives of such subsidies and support.

They agreed that government should provide subsidies to the agricultural sector in the form of fertilizers as well as the health and educational sectors.

The participants said that government must have control over market prices to service the real needs of the poor in society. Those in favour of the motion were, Nana Asante Bediatuo, Managing Partner of Ampem Chambers, Mr Augustine Adongo, Business Development Specialist and Mr Kingsley Ofei-Nkansah, General Secretary, General Agricultural Workers Union, Ghana Trades Union Congress. Those against the motion were, Mr Ernest Kofi Abotsi, a Lecturer in Law, Kwame Nkrumah University of Science and Technology (KNUST) Kumasi, Mr Roland O. Akosah, Founder and Chief Executive Officer of ENO International and Mr. Kwaku Agyemang-Duah, Coordinator of Oil Marketing Companies.