Asantehene Otumfuo Osei Tutu II has urged the Akufo-Addo government to address the economic realities by implementing policies that stimulate industrial growth, create jobs, and attract more investment.
In addition to prioritizing policies, the Asantehene suggested privatizing public enterprises like the Volta River Authority (VRA) and the Ghana Grid Company (GRIDCo) by involving the private sector.
He stressed that private sector involvement would bring in crucial financial investments and fresh ideas, competencies, and resources needed for the sustainability of these enterprises.
The Asantehene warned that without such reforms, both the government and the Ghanaian people would miss out on the benefits of these state-owned enterprises.
He made these remarks during the commissioning of a 430-kilometre natural gas pipeline by Genser Energy on Wednesday, April 17.
“It’s about time that the government realises 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. The government should confront policies and involve the private sector and you can attract more investors into the country which will create more employment.
“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 said.
The government views the inauguration of the pipeline as a significant advancement in strengthening the nation’s power sector, increasing its capacity, and improving its reliability.