The presidential candidate of the Convention People�s Party in the 2008 elections, Dr Paa Kwesi Nduom, has called for a new national economic policy that will place the management and control of the domestic economy firmly in the hands of Ghanaians.
�I believe that this is the time to find a way to enable Ghanaians to gain control over the domestic economy and adopt nationalistic policies in the management of the nation�s development agenda,� he emphasised.
Dr Nduom was speaking at an entrepreneurship seminar organised by the Kwame Nkrumah University Of Science and Technology (KNUST) School of Business Graduate Students Association(KSBGSA) in Kumasi on the topic, �Entrepreneurship: Key factor for national development.�
Speaking at the weekend, he said, it was time the country re-discovered industrialization and put the private sector at the centre as an important player, with the active and sustained support of the government.
He said the time had come for a deliberate effort to provide a stimulus package for Ghanaian businesses to thrive in the face of the global crisis.
�I am not asking us to copy the American, British, Japanese, French or Chinese stimuli. I am calling for a home-grown solution. The kind of stimulus package I am calling for is one that will give the commanding heights of the economy to Ghanaians. �Domesticate� the economy and create productive, sustainable jobs,� Dr Nduom explained.
He said the government could make the �buy locally produced goods� crusade a national one and enable it to gain a solid foundation by aggressively buying and hiring products and services of local entrepreneurs. He observed that one inexpensive way to enable local producers to find their feet in the market, �walk and then run� was for the government to ensure that the taxes collected from the people went to fund local enterprises.
He said the nation needed to be bold, innovative and comprehensive in its approach to adding value to local raw materials through an industrial base upon which the foundation and sustainable increase in the standard of living of the people would occur.
Dr Nduom said the global economic crisis, coupled with local economic difficulties, such as high inflation, a weak currency, low lending rate and others, had made it difficult for enterprises, especially the small ones, to survive.
He said prospective entrepreneurs needed to prepare to face some of those challenges and manage themselves well to sustain their businesses.
He called on university graduates to imbibe good morals and self discipline in their business dealings. Professor Merlyn L.L. Mensah, the Dean of Students at KNUST , said leadership was critical in the nation�s quest for speedy socio-economic development, adding that entrepreneurship served as a catalyst for economic growth and so there was the need to nurture young people to take up the challenge.
Source: Daily Graphic/Ghana
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