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The government has been urged to privatize the Volta River Authority (VRA), Ghana Grid Company Limited (GRIDCo), and the Electricity Company of Ghana (ECG) by Asantehene Otumfuo Osei Tutu II.
He believes that privatization them will restore these institutions to their proper functioning.
“It’s about time that the government realizes that it’s not going to work for the government to be involved in setting up companies without involving the private sector, it doesn’t work,” he said on Wednesday, April 17, during the commissioning of a 430-kilometer natural gas pipeline by Genser Energy in Kumasi. By addressing policies and involving the private sector, the government can draw in more investors and increase employment in the nation.
“VRA and others are all government establishments, let’s give it out and diversify them into the private sector and get more money there and get the right people to do it. GRIDCo and others let’s give them the money and get the qualified people, diverse government from it and let them work. Electricity Company is in a situation where we don’t know, but that also must be diversified and given to the private sector.
“Why are we still holding on when we don’t have the money? We’re not able to collect all the taxes we want, we’re going to IMF and all those for money. We’re hanging onto industries we cannot maintain and run.”
“It’s about time we face reality and decide on what government should be doing and what the private sector should be doing. This is a testimony of the private sector, and they were able to attract investors” he stated.
The natural gas pipeline’s commissioning acted as evidence of the private sector’s capacity to promote economic growth. “This is a testimony of the private sector, and they were able to attract investors,” said Otumfuo Osei Tutu II in praise of Genser Energy and its partners’ initiative and capacity to draw in investors.
The COVID-19 pandemic has made Ghana’s economic problems worse, therefore the Asantehene’s comments highlight the significance of giving policies that encourage cooperation between the public and commercial sectors top priority. Ghana can seize fresh chances for expansion, employment creation, and sustainable development by adopting this strategy.
Source: Ghanatodayonline.com
