Dr. Tony Oteng Gyasi (left), Majority Leader Osei Kyei-Mensah-Bonsu and Humphrey Ayim Dake at the confab
INDUSTRY PLAYERS at a stakeholder forum have urged Parliament to deepen their relationship with them in order to develop effective policies for industrial growth.
The forum, organised by the Association of Ghana industries (AGI), was aimed at deepening the relationship between industries and Parliament, to discuss policies that would support industries especially, in the midst of the current global economic crisis.
The forum was held Wednesday in Accra on the theme “Promoting Ghana’s Development Agenda: The Role Of Parliament.”
Humphrey Ayim-Dake, President of the AGI, said many businesses in Ghana were not privy to the work of Parliament and therefore, were unable to appreciate the processes and proceedings of the august house in passing laws.
He said it was important for industries to continuously engage Parliament to be able to enact laws that will help accelerate Ghana’s industrial transformation agenda.
“We must take interest in the work of Parliament because their work will impact on our businesses. Our meeting would not only help our public private dialogue series towards the passage of laws but also place our country on a sound development trajectory comparable to the global standards,” he said.
Touching on Ghana’s request for an IMF support, he appealed to Government to ensure that the negotiations with the Bretton Woods institution covered support for local industries to ultimately help transform the economy given the impact of the recent fuel hikes, exchange rates, and external shocks of the Russia-Ukraine conflict, among others, on industries.
He said the aforementioned could be addressed if government is able to develop competitive productive sectors to generate revenue and jobs.
Mr. Ayim-Dake also charged Parliament to work together to build a robust economy to support stronger economic growth anchored on a more inclusive policy formulation.
Former President of AGI, Dr. Tony Oteng Gyasi, on his part, appealed to Parliament to form bi-partisan committees to include industry players in their discussions to support policies affecting industries especially as Parliament is still at the draft stage concerning the passage of the tax exemption bill.
He indicated that revenue shortfalls could be addressed if government is able to plug loopholes that deprive the country of her required revenue particularly, foreign dominated businesses which use their discretion and find exemptions in every aspect of the law.
Majority Leader in Parliament, Osei Kyei-Mensah-Bonsu and the Member of Parliament for Elembelle, Emmanuel Armah Kofi Buah, both underscored the importance of the private sector as a major partner in Ghana’s development.
Continuing that the tax exemption bill was at the draft stage to streamline payment of taxes and exemptions, the Majority Leader further assured them of government’s commitment to support industries with the needed tax incentives.
BY Ebenezer K. Amponsah