In my Opinion, how to Improve our Economy

The Socialists have ruled Ghana for 45 years, including28 straight years from 1972 to 2000. The Capitalists have ruled Ghana for only 20 years to date. And so, if Ghana’s economy is what it is today, who is to blame?

Rawlings who was anti-West, went to the IMF eight times, six times under PNDC and twice under NDC; and he also crawled to the West and begged Ghana to be signed into a binding trade agreement, where we are compelled to import products that are fare cheaper than the same, we produce here, kicking our local producers out of business.

In my opinion, to strengthen our economy and our currency, we must do the following:

1. Negotiate with foreign businesses to cut down on monies they repatriate and make them to reinvest the rest here.
2. Introduce low levies on foreign currency transactions in the forex and in the banks.
3. 3. Ban importation of things we can produce hereand place very high import tariffs on importation of such items.
4. 4. Renegotiate with companies drilling our oil and minerals and dealing in, other resources, so that we have majority shares and profit.
5. 5. Renegotiate all investment and other agreements for Ghana and Ghanaian own businesses to have absolute majority shares and profit.
6. 6. Promote Ghanaians to own businesses and industries by lowing mandatory requirements and invite Ghanaian owned companies, overseas, to come home.
7. 7. Make Ghanaian dishes, state dishes and allow only our local foods to be served at state functions.
8. 8. Open up South-South cooperation,with more tradingwith African and Southern Hemisphere
9. In poultry, Ghana should start breeder farms to produce commercial stocks from our local pedigree so that we do not import day old chicks. There is an expert called Dr. Okling is an expert in this field, but try as he would, no government is looking at him.

When President Kufuor made the attempt to withdraw from those binding trade agreements, Ghana signed into under Rawlings, the NDC MPs told him it can’t happen. Then IMF came knocking loudly with harsh warnings.

It is about time we went for broke and bear whatever consequences that would come.

One of the means whereby economies stay resilient is when majority of businesses and industries are in the hands of the indigenes. That was how it was in the 70’s when Ghanaians owned, breweries, mattress factories, pharmaceutical companies, tobacco firms, poultry farms and in addition we had functional state owned GIHOC with 16 divisions. Ghana exported to the sub region and abroad markets. There was Tema Shipyard which was tops in West Africa, where ships come for servicing.

Unfortunately, in 1981, a revolution came and all Ghanaian businesses were collapsed, both state and privately owned, and sold cheaply to wives and cronies and left to collapse. In 1995, came a decree that Ghanaians should not patronise certain made in Ghana products.

Rose Pillars would have grown into the likes of Shoprite but it was collapsed in the 80s. A-Life blossomed in the 90s but went down quickly due to greediness of bankers and politicians.

Today most big-time businesses are owned by foreigners who repatriate dollars to their home countries after converting our cedis.

Due to the unnecessary binding trade agreement, PNDC signed Ghana into in the 90s, we import chicken which effectively collapsed our once vibrant poultry industry. We import rice, when we have rice farms here. It is cheaper buying from outside than producing here in Ghana because we are not to support our farmers.

Unless, government goes into negotiations, it will be difficult to easily get out of this mess. NDC could use TV3, on prime time to condemn local rice.

The 1992 Constitution spelt out the separation of powers in the three arms of government, yet this same constitution gave presidents a hold on Parliament.

At least 51% of all ministerial appointees are to come from Parliament. The president also appoints an MP as minister of Parliamentary Affairs who becomes a member of cabinet.

To this end, MPs from ruling parties will die to protect the president and blindly follow all the president says.

Today, the NPP MPs have demonstrated that MPs are representatives of the people and not of government.

The NDC MPs had lots of opportunities like this, to stand up against their leader and president and speak for the people. An example was the Woyome Scandal in which they defended that crook and swept his case under the carpet, which they converted from criminal to civil.

Under an NDC government Woyome was not only allowed to go freely but also to go with what he stole. Hebastardised the legendary principles of the highly disciplined people of Anlos.

Guess what, I am proud to be Ghanaian because now Parliament has grown teeth to bite.

In 2008, the world economic crunch was about knocking out our Cedi. But JAK and his EMT came out with solutions that protected our economy. When world price of petroleum shot up Kufuor pegged ex-pump price of fuel products. He maintained the price when the world price dropped so that he could reap funds to repay what government spent when world prices went high. And we had no problems with food. He imported rice from India.

We can go adopt Kufuor’s methods, can’t we?

Hon. Daniel Dugan

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