body-container-line-1

Revive industries to drive a 24-hour economy and job creation – GFL

By Francis Ameyibor II Contributor
Social News Revive industries to drive a 24-hour economy and job creation – GFL
SAT, 25 JAN 2025

Mr. Abraham Koomson, a seasoned unionist and the Secretary General of the Ghana Federation of Labour (GFL), emphasized the need for the new government to implement policies aimed at reviving collapsed factories.

He acknowledged that, given the current state of the deteriorating economy, this revival cannot happen overnight. However, he believes that if the government considers the appropriate measures and interventions proposed by the GFL, the process could be accelerated, creating jobs and fostering economic growth.

During a public discussion, Mr. Koomson stated that reviving collapsed factories is a top priority for workers under the National Democratic Congress (NDC) administration. He pointed out that governments across the globe prioritize the manufacturing sector because it is crucial for their development agendas. According to him, the growth and productivity of the manufacturing industry depend on investors feeling assured of protection, growth, and uninterrupted operations.

Mr. Koomson stressed that investments in land, plants, machinery, and related equipment require a guaranteed continuous operational period of 15 to 20 years in order to recoup initial investments, assuming all other factors remain constant.

He highlighted the significant role workers played in the recent change of government, noting that the policies of the previous administration failed to address their concerns. “We played a role as workers in the change of government. Things were not right under the previous administration because their policies were ineffective,” he said.

Mr. Koomson criticized the previous government's high indirect taxes, such as excise duties and levies, which inflated the costs of goods and services. He argued that these taxes burden families, particularly impacting school-age children, and do not contribute to GDP growth.

He explained that the previous government's expanded excise duty regime contributed to decreased productivity, leading to layoffs and factory closures due to low sales amidst rising production costs.

Expressing concern about the job market, Mr. Koomson noted the hardships faced by both workers and employers. “Jobs are collapsing, and unemployment is rising. Almost every week, workers are sent home, and manufacturers are complaining about their struggles,” he stated. He added that even the remaining operational factories are burdened by excessive taxation, hindering their ability to function effectively.

“The few factories that are still in operation face serious challenges arising from the multiple taxes imposed on them,” he explained.

Despite these challenges, Mr. Koomson remains optimistic that the NDC government will implement practical policies to transform the industrial sector. He stated that the GFL is closely monitoring the government's steps to revive the nation’s collapsed factories, as this is vital for improving employment opportunities.

“As the workers’ organization, we are primarily interested in the policies implemented to revive these factories. While change cannot happen instantly, we want to understand the government's action plan,” he said.

He mentioned that the GFL has already sent petitions to key ministries, including Trade, Agribusiness, Industry, and Food and Agriculture, as well as to the Finance Minister. The GFL expects to be invited to contribute ideas to the discussions.

Mr. Koomson emphasized the importance of practical policy implementation to create a 24-hour economy rather than relying on political slogans. “Our focus is on making the 24-hour economy a reality, which goes beyond the typical rhetoric seen in the past,” he stated.

He believes that boosting the manufacturing sector will lead to direct growth in the export economy, reduce the demand for foreign currency, and strengthen the cedi-forex relationship. Additionally, he expressed that this boost will create jobs and provide an attractive environment for foreign direct investment. He assured that the NDC can count on the GFL and the manufacturing industry for support.

Disclaimer:  ModernGhana is not responsible for the accuracy or reliability of this report and its content. More Follow our WhatsApp channel for meaningful stories picked for your day.

Please note that ModernGhana is not responsible for the accuracy or reliability of this report and its content.

As a content curation and syndication platform, we ethically select and publish news articles from various credible online sources that we believe will be of interest to our readers.

We publish four types of content on a daily basis: Curated content, Syndicated content, User-generated content and Original content.

Our curated content consists of carefully chosen articles from reputable websites, which are properly credited and linked back to the original source to drive traffic.

Syndicated content is provided to us by other websites looking to increase their readership and expand their brand awareness. User-generated content includes opinion pieces and contributions from our dedicated readers, which we publish for the benefit of our diverse audience.

Additionally, we produce original content through our team of experienced journalists and correspondents from across the country. It is important to note that the opinions expressed on this platform do not necessarily reflect our own views. We value freedom of speech and therefore, may publish opinions that may not align with our own or those of our readers.

We understand that some opinions may be objectionable to some individuals, but we believe in upholding the principle of absolute freedom of speech. If you do not agree with this principle, we kindly advise you not to visit our website.

READ MORE

Should the Free SHS policy be reviewed?

Started: 10-01-2025 | Ends: 31-03-2025

body-container-line