Former Minister for Trades and Industry Alan Kwadwo Kyerematen has bemoaned the decline Ghana, he claims, has suffered in the industrial sector in the last eight years.
According to him, mismanagement can only be blamed for the situation.
Speaking at the 2016 manifesto launch of the New Patriotic Party (NPP) on Sunday, Mr Kyerematen said: “It is a matter of deep concern that the industrial sector has suffered one of the most significant setbacks in Ghana’s history over the last eight years”.
The party, which he has attempted thrice to lead, launched its policy statement for the December 7 elections at the Ghana International Trade Fair Center in Accra.
It was launched on the theme: ‘Agenda for Change, Jobs, Prosperity and Securing the Peace’.
Various speakers highlighted some of the content of the manifesto.
Addressing the stakeholders on trade and industry, Mr Kyerematen pointed out how in 2015 the manufacturing and mining industries recorded negative outputs of 2 per cent and 3.8 per cent respectively.
“The poor performance of industry and the business sector are the result of the mismanagement of the economy as well as the unreliable and expensive power supply regime known as dumsor that has plagued Ghana over the last five years.”
He said the challenges with industry have to do with factors including overtaxation and poorly developed infrastructure.
“The NPP will address these challenges in ways that will make industries thrive and become a major source of jobs especially for the youth.”
He announced an “ambitious and comprehensive” programme that will trigger job creation in the country if the NPP wins power.
“In this regard, the next NPP government will embark on one of the most ambitious and comprehensive industrial programmes ever to be implemented in the country’s history”.
The one-time aspirant to the Director General position of the World Trade Organisation (WTO) highlighted how small- and medium-scale industries will be boosted with an Industrial Development Fund to make them large industries.
He also said the National Investment Bank (NIB) will be recapitalized and revitalized in this regard.
He added: “The NPP will reduce the tax burden on businesses by either completely abolishing the same taxes or reducing them.”
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