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The Private Enterprise Foundation (PEF) on Tuesday organised a workshop for entrepreneurs in the private sector to discuss the 2010 Budget Statement and Economic Policy in order to make their recommendations for government's consideration. Nana Yeboah Kodie Asare II, a member of PEF Governing Council, expressed the hope that the recommendations would form a position paper to inform government on prudent fiscal measures to be implemented next year for socio-economic development. Speaking at the workshop in Accra, he said the implementation of the budget depended largely on the input of the private sector stressing that the sector was the main "vehicle that carry the projects of government". Mr Felix Tettey-Fio, a private consultant with the PEF team, in a presentation on the performance of the 2009 Budget, observed that the level of economic activity for the fiscal year had been slow adding that there was a shortfall of revenue mobilisation. He noted that in situations where the government was unable to generate the needed revenue to implement its programmes, statutory bodies such as the National Health Insurance Authority, District Assemblies Common Fund and the Ghana Education Fund (GetFund) suffered financial cutbacks from government. He described the projected 6.6 per cent in next year's budget for industrial growth as ambitious and expressed doubts of its attainment owing to the present erratic electricity supply. Mr Tettey-Fio observed that challenges to implementation of the budget would include reduction in financial aids and foreign remittances owing to the global financial recession. "Projected tax revenues may not come on stream. Industries already show signs of distress while interest rates and high inflation pose more distress for industry." He said though government would have to look for fiscal space to execute its programmes against a backdrop of a lower projected tax revenue, it may be forced to resort to the local market adding that the act would further crowd out the private sector from operations. Mr Tettey-Fio advised government to adopt pragmatic measures to reduce the public sector wage bill which is projected at 69.4 per cent of tax revenue for this year. Dr. Osei Boeh-Ocansey, Director General of PEF, lauded government's projections for developing the agriculture sector but called for rural development to go side by side with the agricultural sector in order to serve as incentives particularly for farmers and teachers to stay in those areas. He called on government to be committed towards creating markets and buffer stock marketing agencies in order to effectively deal with post-harvest losses. PEF is a member-based organization and national centre for advocacy and promotion of private enterprise. It undertakes policy-based research for making effective representation to government in order to influence policies and regulations towards the creation of an enabling environment for a private sector led economic growth.