We are in the mess of national Economic Emergency.
We are in the mess of national economic Emergency as labour commission would not stop the rising of inflation on our Economy.
The labour commission has the mandate to resolve the energy crises, reduce inflation and create cheaper sources of energy. This will help provide foundation for a stronger and more secured economy.
This issue became critically necessary after our Economy was down-graded to a negative growth rate.
Afterwards, Associate professors as well as Renounced Economists sat on the issue to deliberate on the nature of our Economy.
They came to a realization of the loopholes of our Economy and also ruled out some pepperic suggestions for the enhancement of immediate economic recovery.
They made a generalized statement that, if the foundamentals are not good enough, the economy keep on struggling.
Major recommendations made
We are in the mess of national Economic Emergency.
1. Taxation system.
They discovered that, We are loosing an amount equavelent to one third of money borrowed from IMF every year through flexible and relaxed revenue collection mechanism. Revenue collection system should be seriously strengthened to preserve liquidity ratio.
2. Foreign importers.
Foreign impotors should be made to pay significant amount of money to government chest if they go beyond certain minimum rate of importation.
Tax on foreign impotors should be significantly increased.
It should be mandatory for foreign impotors to stock some percent of our locally made goods.
We are in the mess of national Economic Emergency.
3.cutting down of salaries of top officials.
They believed that, most Ghanaian top officials are taking more money than expected to the neglection of the poor Ghanaian citizens. These resources could be pulled out to support the economy.
4. Our agriculture sector should be considered as lucrative area to boost the bouncy of the economy.
Brizail as the world leading producer of rice, has only five to ten percent of its population into agriculture.
They are able to produce rice abundantly, feed the nation and even export the surplus.
About sixty percent of Ghanaians are in agriculture but can not feed our country let alone to produce for export, so they said, joy news.
Bottom line
We are almost in the middle of national economic Emergency. Labour can stop or limit the crises by stopping energy prices from increase by freezing the price cap.
This issue is paramount to every citizen.
We are in the mess of national Economic Emergency.
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