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General News | May 1, 2004

Gov’t Adopts Counter Plan against price increases

PFM

The government has set aside 1.4 billion "dollars" in its foreign reserve account to import cement, flour and other essential commodities if local producers and manufacturers fail to reduce prices of the commodities.

In the meantime, it is meeting with the producers and manufacturers to find out why prices of such commodities have risen so much in recent time. The minister of Information, Nana Akomea, disclosed this on Thursday at the University of Ghana when he addressed a handing-over ceremony of the Legon branch of the Tertiary Education Students Confederacy (TESCON) of NPP. He said if tangible reasons are not given by the producers and manufacturers of the mentioned commodities for the increase in prices, then government may be compelled to “flood the market with imported commodities.”

Nana Akomea expressed the hope that the macro economic measures being taken by the government would “trickle down to the micro-economic level to be felt in the pocket of everyone.”

Turning to this year's general election, he declared; “as for winning the next election, it is a foregone conclusion,” adding, “what we think about now is the percentage to be won.” The Minister assured the youth, especially students, that the government would provide them with the necessary logistics to enable them to disseminate the right information to the electorate. He described the NPP as a tradition not a political party, adding that “it thrives on ideas and ideals like liberty and free enterprise which are timeless.

The outgoing President of TESCON, Mr Yaw Adubofuor, appealed to the leadership of the party to help resolve the differences between TESCON and the Youth Wing of the NPP.

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