Daniel Amateye Anim, Chief Executive of the Institute of Certified Economists (ICE), has urged the next government under Nana Addo Dankwa Akufo-Addo not to immediately reduce utility tariffs.
According to him, any attempt by the new administration to reduce the utility tariffs immediately would have dire consequences for the country.
Mr. Anim, in an interview with BUSINESS GUIDE said, “The new administration needs to tread cautiously because reducing the tariffs will have dire consequences because there is no money for subsidies.
“However, communication becomes the vital tool to letting the people understand the state of the current economy and the need for everyone to be patient. Getting the support of the people is important in governing the nation,” he said.
Many Ghanaians complained bitterly about high utility tariffs and voted against the Mahama administration based on that.
They now expect the President-elect Nana Addo to reduce the utility tariffs once he assumes office.
However, Mr. Anim disagreed with most people calling for a reduction in utility tariffs, saying the new administration should at least be allowed a year to mobilise resources in order to reduce the tariffs.
“We should not force the new government to immediately reduce tariffs. They need some time to plan in order to fix the economy so we should give them some time,” he said.
Resort To FDI
Mr. Anim advised the new government to put measures in place to attract Foreign Direct Investment (FDI) into the country, stating “the new government should resort to FDI instead of borrowing.
“Borrowing immediately will not be the ideal thing for the new government to do because they criticized the outgoing NDC government for borrowing excessively,” he said.
Mr. Anim said sufficient foreign inflows would shore up the local currency against the major foreign currencies.
Source: Daily Guide
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We the electorate are not ready to listen to any nun sense from any so called economist. Is this man better than barwumia? Barwumia made all these promises with nana addo, so why are you trying to advise them not to do what they know they can do and thereby promised.
NPP is not coming to power for the first time,they've been in power before and know what to do,they know the economy is sick and they've taking note of every bit of it in opposition and they are not like ndc who want power to ste*l so rush to fail. NPP have studied every bit of the economy and know what is wrong and found d solutions, the only thing waiting for is the inauguration for them to put on their working gear like before. Kuffuor inherited a broke country from the ndc took the country from HIPC to middle lower income group ,reduced poverty and left money in the national consolidated fund for the new government,contractors were paid to continue their work and there were enough money to be paid to contractors which ndc took GHC1million for tea during the transitional period. NPP were able to cut down borrowing to the extent banks had money but nobody came for it so had to chase customers in their homes unlike ndc government that competed with the people. NPP has the best men and women to get the work done within 2 years,I believe their can do spirit and I know they can do it with God's guardians. NPP brought so many social interventions to help the poor and every Ghanaian so I don't doubt them,they are serious people,matured and competent to move the country forward and I know so many Ghanaians home and abroad who have the technical know how are willing to help put the country in a great footing so let not the ndc nation wreckers who think of evil all the time be happy for NPP will arise past expectation to the collapse of evil ndc. I thank God Papa J will take his party back and rebrand and re-name it to be attractive to people so Ghana will have 2 vibrant and matured parties who are patriotic and compassionate to move the country forward. GOD BLESS GHANA MY MOTHERLAND.
I HAVE SAID MANY TIMES THAT I AM HAPPY NDC HAS BEEN BOOTED OUT.I HAVE ALSO SAID THAT WHAT CAN BRING THE NPP DOWN IS THEIR JUICY PROMISES. THIRDLY I REITIERATE THAT THE GHANAIAN VOTER IS INCREASINGLY THINKING INDEPENDLTY. FOR NANA TO STILL GO ROUND TO REMIND PEOPLE OF HIS PROMISES IS A MISTAKE. IT WILL TURN ROUND AND BIT HIM BIG TIME. MIND YOU THE NDC LOST THE ELECTION BUT NANA DID NOT WIN. BEFORE ANYONE COMES WITH INSULTS PLEASE ANALYSE THE FIGURES VERY VERY WELL. I'VE ALSO LISTENED A LOT TO THE NPP ALIGNED SENIOR JOURNALISTS AND NONE OF THEM I REPEAT NONE OF THEM HAVE TRIED TO ANALYSE THE FIGURES BECAUSE THEY KNOW THAT IT DOES NOT LOOK GOOD FOR THE NPP. IT IS ONLY KWEKU BAAKO WHO TRIED TO CLAIM ALBEIT RESERVEDLY THAT THEY WERE GHOST NAMES. REALLY? KUFFOURS MISTAKE SHOULD NOT BE REPEATED BECAUSE I BELIEVE THE GHANAIAN VOTER IS DISCERNING. GOD BLESS GHANA.
THE VICE PRESIDENT ELECT DR. BAWUMIAH KNOWS WHAT TO DO. ALL YOU NDC NATION WRECKERS NOW TURNED COAT TO ADVISE NPP SHOULD SHOT UP
NANA BE READ TO REDUCE THE UTILITY TARIFFS,THIS IS HOW YOU PROMISED US,YOU CAN NOT TRICK US FOR POWER,YOU PROMISE US ONE DAM ONE VILLAGE AND ONE DISTRICT ONE FACTORY,I MILLION DOLLAR FOR EVERY DISTRICT,NANA WE ARE SERIOUS DONT JOKE WITH US,WE ARE WAITING FOR YOU, WE DONT HAVE LOVE FOR ANY INDIVIDUAL,WE HAVE LOVE FOR THE PRESIDENT WHO CAN HELP US.
What is good for the goose is good for the gander. If reduction of tariffs is good under NDC government why not now. Anim, shame!!!!!!!!!!!!
Even if there's money, should it be spent on subsidies?
@***barred word***, what is problem? just wait and see, you negative thinker
They did not only proposed reducing utility tariffs but the also said they will all taxis and bring VAT down from 17% to 3%. All these will have negative effect on the economy, yet they went ahead to promise Ghanaians of free school, free teacher and nurses trainee allowance, free factories across more than 170 districts, free dams, free 1 million per constituency, free irrigation dams in more than 5000 villages in the 3 northern regions, free NHIS, free fund for Zongos, free kayaye hostels and the list goes on. Adding salt to injury Nana doesn't seem to be seeing the implications but still going round to tell chiefs and Ghanaians that he will fulfil all the promises. Not even an advanced Nation can achieve these numerous promises with less taxation.