Economist and a senior research fellow at the Institute of Economic Research and Public Policy (IERPP), Dr Frank Bannor, has questioned the government on its approach to implementing the NDC’s much-touted 24-hour economic policy.
Dr Bannor finds it highly difficult to marry the promised 24-hour economy with the recent sod-cutting ceremonies for the construction of 24-hour markets across the country.
‘How is the construction of 24-hour markets the solution to the 24-hour economic promise made by the NDC prior to the 2024 elections? “How are the markets going to lead to the much-hyped Formula 1:3:3, which is aimed at providing jobs for the teeming youth in 8-hour intervals?” he asked.
The development economist contended that the promised 24-hour economic model dubbed Formula 1:3:3 is poles apart from what is actually happening on the ground. He stated that the 24-hour economy has no relationship whatsoever to do with what Ghanaians were promised.
”The 24-hour economy, as was promised, is completely worlds apart from the markets being built.” These markets have no 24 hours about them in the first place, let alone provide jobs for the people. This is not what was promised by the ruling party in the run-up to the 2024 elections.”
The economics lecturer at GIMPA urged the Mahama government to be honest with the Ghanaian people by telling them the truth about how impossible the 24-hour economy will be to implement.
“From all indications, the 24-hour economy is not seeing the light of day since the government’s actions point in the opposite direction. It is about time the government told Ghanaians the truth about how impossible it is to fulfill their 24-hour economy policy. They should, therefore, stop labeling the markets with the 24-hour mantra since they are providing no jobs the youth” he said.
Dr Frank Bannor made these remarks as part of an interview he granted to some media houses in Accra.
Source: metrotvonline.com
