Business News of Mon, 3 Oct 201623
Mahama to resurrect defunct Black Star Line
President John Dramani Mahama has revealed that steps are being taken by the government to re-introduce the operations of Black Star Line; the national shipping line that in the 1970’s was a key player in the transport of Ghana’s commodities to abroad.
The re-introduction of the national shipping line, the President said, was to maximize the potentials of the port expansion projects being embarked on in the country.
According to the President, plans are far advanced, hence the redevelopment and expansion of the ports ahead of it's re-introduction to create jobs for the teeming unemployed youth.
He explained that goods and services are cleared rapidly at the ports and there is the need for a national shipping carrier to facilitate these trades.
President John Mahama made this revelation at the first anniversary celebrations of the implementation of the Single Window trade facility at the Customs Division of the Ghana Revenue Authority (GRA) attended by George Blankson, Commissioner-General of GRA, the Finance Minister, his Deputy, Deputy Minister of Trade and the Minister of Transport in Accra.
He maintained these were some of the measures being put in place by his administration to strategize and maximize the gains of the economy.
He said the earnings of the prudent fiscal management of the economy is making the economy resilient in the West African sub-region hence the Moody ratings.
“We are in an election year but our fiscal management of the economy gave the International Monetary Fund the impetus to grant us another reprieve”.
President Mahama said the ratings has stated that the recent upgrade from negative to stable by International rating firm is an indication that his government is doing something right.
He said the partnership between West Blue Consulting Limited and the Customs Division of the GRA is an outstanding partnership with the private sector that has worked over the past one year in spite of the earlier misconceptions about the project in the media.
He noted that the project is designed to strengthen the trading and economic performance of the country.
He said the project is also helping the world to do business with the Customs division easily as recommended by the World Customs Organization and World Trade Organization.
In all, the President together with the following individuals: Thomas Amanquandor, former Commissioner of Customs Excise and Preventive Service (CEPS), Fredrick Gavo, Deputy Commissioner and Yaw Boakye Agyemang in- charge of the Customs Technical Bureau received meritorious awards for their political foresight and instrumentality in setting up the Ghana National Single Window for Customs, which has revolutionize customs procedures and increased government revenues.