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We are ready for “24 Hour Economy” policy provided there is the needed incentives – business associations
Dec 21, 2024
Some business associations have indicated that they are ready for John Mahama’s proposed 24 Hour economic policy if businesses will be incentivized and the necessary structures are instituted.
The views were jointly expressed by the Chief Executive of the Chamber of Bulk Oil Distributors Dr. Kweku Ofori and the Chief Executive of the Ghana National Chamber of Commerce and Industry, Mark Badu-Aboagye in an interview.
Dr. Ofori noted, that businesses will embrace the policy if government is able to institute the necessary structures to make it easier for private sector operators.
He pointed out that the policy could help reduce demurrage for importers clearing goods at the ports.
“If Bulk Oil Distribution firms can clear their stocks at the ports within 24 hours, that will actually reduce the cost for some of these companies, based on the charges that they would have paid for delayed clearance”, he said.
Dr. Ofori said the incoming Mahama government must commit to putting in place the required structures.“Another thing that we should not forget is the security needed for this programme to be successful”, he added.
On his part, Mr. Badu-Aboagye noted that with the right structures in place industries and manufacturing firms will definitely sign up for the programme . He rejected arguments that the 24-hour economy should be market driven since most of the manufacturing firms are not ready for this policy.
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