Business Development Minister, Ibrahim Mohammed Awal has revealed that government will soon bring out a stimulus package for businesses.
He maintains that government is identifying the distressed companies and will soon allocate the stimulus package by the end of the year.
The Association of Ghana Industries (AGI) had impressed on the government to make its stimulus package for businesses available by the end of June this year.
The President of the AGI, James Asare Adjei earlier told Citi Business News the provision of the support by the end of June should be sufficient for the growth of qualifying businesses.
But speaking to Citi Business News at the sidelines of the launch of the Citi Business Festival Mr. Awal said government will not renege on its promise to give financial support to some distressed businesses in the private sector.
“Government is working on a package; very soon it will come out. The Ministry of Trade is now trying to identify the distressed companies, there are a lot. We are looking for criteria to sort them out before we can extend the package to them. It will be done this year.” he stated.
“Among the numerous interventions by the NPP government to make local businesses more competitive, is the provision of financial support to some distressed businesses in the private sector.”
By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana