Economist at the university of Ghana Dr. Adu Owusu Sarkodie has called on the government to make power available to the private sector in order to enhance their productivity.
Speaking in an exclusive interview with Univers Business, the economist said that the energy problems the country faces is a leading cause of the downsizing being experienced by many industries. This according to him, reduces their total production output.
Dr. Sarkodie noted that the consistent supply of energy is one area that the government needs to pay critical attention to especially if it wants to see the economy improve.
“Dumsor really killed a lot of businesses because for instance if you go to work and there is no power to start your machines it will lead to low productivity. This in the long run affects profits, compelling employers to lay off workers so the energy sector must be critically looked at and government must do it’s best to make available power so that the private sector can use it for its business. ” he said.
Also, the economist called upon the government to provide a congenial environment for the private sector by coming up with friendly and comprehensive policies.
Dr.Sakodie was quick to add that government must help in strengthening local companies rather than relying on the foreign companies. He explained that revenues of these foreign companies are ploughed back into their mother companies abroad. The economist further suggested that engaging players in the private sector through the use of Public Private Partnership will be beneficial to the economy.
He however expressed worry about the bureaucracy involved in the registration of companies and called for a critical look at the situation since it might hamper business in the country.
“another necessity is the creation of an enabling environment and by enabling environment, we mean the opportunities for the private sector to thrive and I mean opportunities like having better policies and the Public Private partnerships(PPPs) should be enhanced to empower some of the private individuals and we should also invest more resources into our local companies rather than the foreign ones. ” he added.
By: Philip Bright Abutiate/Radio Univers 105.7 FM
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