Tema-Ghana, Dec. 13, GNA – Mr. Abraham Koomson, Secretary General of the Ghana Federation of Labour (GFL), has highlighted the critical state of the Ghanaian economy, emphasising that the next government must embark on urgent re-industrialization and job creation to restore the Ghanaian economy.
Mr. Koomson expressed concern over the near standstill of the Ghanaian economy, leading to massive job losses due to systemic failures by successive governments economic policies.
He predicted the extinction of trade unions unless immediate action was taken to reverse the current trend of reckless economic management.
Mr. Koomson stated during a working visit to the GFL by the National Democratic Congress (NDC) Group of Experts, known as the LAB, to engage the leadership of the Federation on the modalities of the party’s proposed 24-hour economy, which has been tagged as a “National Game Changer.”
The GFL Secretary General also underscored the pivotal role of the manufacturing industries in employing over 60 percent of the labour force.
Citing examples like the Ghana Industrial Holding Corporation (GIHOC), Mr. Koomson detailed the collapse of 17 subsidiary companies, signalling a broader trend of distressed or collapsed enterprises across various sectors.
The GFL emphasised that the revival of the industries required a committed effort, acknowledging the complexity of the economic challenges.
They called for the commitment of the NDC and other political parties seeking the governance of the country and suggested interventions to expedite the revival of industries, creating much-needed jobs.
In identifying causes of industrial collapse, Mr. Koomson pointed to mismanagement of State-Owned Enterprises (SOEs), excessive taxes, and high utility tariffs.
He urged a collaborative approach involving industry stakeholders to adopt tax and tariff policies beneficial to both the state and businesses.
To combat the challenges faced by the textile and beverage industries, GFL proposed uninterrupted zero VAT for locally manufactured textiles and the reversal of recently expanded excise duty inclusion.
GFL asserted that a boost to the manufacturing industry would lead to direct growth in the export economy, increased employment, an attractive environment for foreign direct investment, and a strengthened cedi-forex relationship.
The NDC group of experts led by Professor Danso Boafo discussed the “24-hour economy, focus on reindustrialization, and job creation,” sought to share the NDC’s policy transformation agenda with players in the industrial sector, and also offered stakeholders the opportunity to make an input into the party’s national development agenda.
The group also included Professor Jane Naana Opoku-Agyemang, NDC Election 2020 Vice Presidential Candidate; Nana Oye Bampoe Addo, former Minister of Gender, Children, and Social Protection; and some leading members of the NDC.
The two groups also discussed challenges facing workers, industry, and the general socio-economic crisis in which Ghana finds itself, while the NDC Expert Group used the opportunity to seek GFL’s views and inputs into the next NDC government’s proposed policies to transform the country.
The meeting deliberated on issues such as the current economic hardships occasioned by economic mismanagement, the effect of high taxes and utility bills on industries, and the consequential collapse of some companies and layoffs of workers.
