Thursday, 30 May

Let's diversify VRA, ECG – Otumfuo tells gov't

Asantehene Otumfuo Osei Tutu II

It is high time the government realised that setting companies "without involving the private sector doesn’t work," Asantehene Otumfuo Osei Tutu II has said.

In his view, therefore, "the government should confront policies and involve the private sector" to "attract more investors into the country which will create more employment".

Speaking at the commissioning event of a 430-kilometre natural gas pipeline by Genser Energy aimed at bolstering the nation’s power sector, the Asante monarch said: “VRA and all other establishments, let’s diversify them into the private sector and get more money there". "Let’s give them the money and get the qualified and right people to do it," he urged. For instance, he said the Electricity Company of Ghana can diversify some of its operations  to private companies who are experts in a particular aspect where the power distributor falls short.

"Electricity Company is in a situation; where we don’t know, we must diversify and give it to the private sector," Otumfuo advised.

He wondered: “Why are we still holding on when we don’t have the money?" 

"We’re not able to collect all the taxes we want. We’re going to IMF and all those for money. We’re hanging onto industries we can not maintain and run," the Asantehene bemoaned.

“It’s about time we face reality and decide on what government should be doing and what the private sector should be doing. This is a testimony of the private sector, and they were able to attract investors", he cited as an example to buttress his point.