The Ghana Federation of Labour (GFL) has supported calls for a comprehensive reset of the country’s economy and governance system, stressing that a lack of industrialization has hindered Ghana’s development trajectory and that a radical transformation is necessary to put the country back on track.
In an interview after the government’s mid-year budget review, the GFL expressed disappointment about the need for clear direction for economic recovery and building a solid foundation.
“We were expecting that the nuisance taxes would have been removed and pragmatic injury time innovative measures put in place by the government, but we did not see any of these, only a recap of old things and comparison of record with the over-eight-year record of the previous government,” Mr Abraham Koomson, GFL Secretary General, stated in Tema.
Mr. Koomson noted that the GFL reiterated its support for the proposed 24-hour economy policy of the opposition National Democratic Congress (NDC) flag bearer, former President John Dramani Mahama, as the foundation for Ghana’s industrial revolution.
“This approach aims to maximize productivity, increase economic activity, and create jobs. By adopting a 24-hour economy, Ghana can leverage its strategic location and human resources to become a hub for industrial activity in West Africa,” the GFL Secretary-General stated.
He noted that Ghana’s economy faces numerous challenges, including over-reliance on primary commodities, limited industrialization, high unemployment rates, and inefficient governance structures.
Therefore, the GFL recommends a comprehensive reset of Ghana’s economy and governance system, focusing on industrialization through the 24-hour economy policy, diversification of the economy, strengthening of institutions, and improved governance and accountability.
He believes a 24-hour economic policy can help Ghana achieve rapid industrialization and economic growth.
Mr. Koomson noted that Ghana’s economy and governance system need a reset; “we need a comprehensive roadmap for transformation and the urgency of this agenda.
“By adopting a 24-hour economy policy and prioritizing industrialization, Ghana can unlock its full potential and achieve sustainable economic growth and development.”
The GFL Secretary-General reiterated that a 24-hour economy policy could transform the country’s industrialization and economic growth.
