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    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

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    BoG must be innovative in dealing with rise in PPI – AGI

    Government partners private companies to mine abandoned iron ore in Oti Region

    Cedi depreciation pushes Ghana’s debt to over GH¢390 bn in April; 78% of GDP

    Manufacture of petroleum products push PPI to 31.2% in April

    Togbe Afede XIV urges BoG to introduce measures to deal with rising inflation

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    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

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    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

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Govt must help private sector companies struggling- ICU

bycitibusinessnews
March 26, 2017
in Government, Local Economy, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

Labour Unions in Ghana have renewed calls for government to support the private sector.

This they believe will guarantee them job opportunities.

This follows the laying off of about 400 workers of a steel company in Tema, Rider Steel Ghana Limited over the company’s inability to pay for high electricity tariff.

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According to the company, which is located within the Tema Export Processing Zone, it is being charged 52 pesewas per kilowatt hour of electricity by a privately owned power distribution company, Enclave Power Company (ECP), while other steel companies are charged 21 pesewas per kilowatt hour upon negotiation with the ECG.

The local unions believe the situation and other similar occurrences can be prevented if government participation is enhanced.

In an interview with Citi Business News, the General Secretary of the Industrial and Commercial Workers Union (ICU), Solomon Kotei says government must step in and initiate ways  to assist the private sector.

He explained that there are procedures that can be assessed to help in such situations, that render companies insolvent.

“Before any employer undertakes redundancy, they notify the chief labour officer who then also forwards the development to the Ministry of Employment and then it gets to the chief of government. If some support or leverages can be given to these employers, looking at their interventions in the special sector then one will be able to monitor whether government is walking its own talk,” he said.

Mr. Kotei stated that government must always intervene by setting the appropriate conditions for the private sector to grow.

“If it is the private sector that is the engine of growth in the economy then what are we doing to those private sectors? For now we have not seen any help.” he stated.

–

By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana.

 

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