Businesses Want Stimulus Package Released By Midyear

Private sector businesses have impressed on the government to make its stimulus package for businesses, available by the end of June this year.

Among the numerous interventions by the New Patriotic Party (NPP) government to make local businesses more competitive, is the provision of financial support to some distressed businesses in the private sector.

But the businesses are yet to tap into the support.

According to Trade Minister, Alan Kyerematen, his outfit was currently reviewing some businesses tipped to benefit from the package.

President of the Association of Ghana Industries (AGI), James Asare Adjei, told Citi Business News the provision of the support by the end of June should be sufficient for the growth of qualifying businesses.

“We believe that businesses cannot wait any longer…well we believe that if by the end of the second quarter, it’ll be most appreciated,” James Asare Adjei said.

Even though Mr. Adjei believes expediting the process could pose some constraints, he contended that a further delay will aggravate the challenges that businesses are grappling with.

Already, 50 million dollars have been allocated as seed money to support the beneficiary businesses.

An additional 150 million dollars is expected to be allocated to support the shortlisted businesses.

Commenting on the AGI’s support in implementing the policy, the Association’s President, James Asare Adjei, maintained that they will offer their continuous support towards the success of the programme.

“There is the need to also put in place impact assess mechanism that after the stimulus package has been given to industries we are able to determine how they are going to assess the extent to which the stimulus has impacted on the operations of the beneficiary businesses.”

“Whether they have been able to employ more or improved their turnovers? Simply, what are the benchmarks to say that this stimulus has been successful. It’s been done before but this time we would like to get it right, so we’re working with the Ministry of Trade and Industry,” James Asare Adjei asserted.

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