Chamber of Commerce urges government to regulate interest rates
The Ghana National Chamber of Commerce and Industry (GNCCI) has appealed to the government to help regulate interest rates to keep the private sector in business.
“Government will groom businesses to assist in building the nation if it regulates interest rate instead of controlling it”, the GNCCI said.
Mr Seth Adjei Baah, President of GNCCI, said this in an interaction with the media at the weekend to outline the new executives’ mandate and vision for the Chamber.
On the recent increment of utility bills, he said “as a Chamber, our interest in the long term is how we can plan well and decrease dependence on crude oil and encourage investment in the use of our gas to produce electricity, which is cheaper”.
He said if the increment would assist in sustaining long term supply of electricity and water then the Chamber has nothing against it.
“As you all know we are in a competitive environment and if increment does not come with efficient service delivery, then the private sector is being kicked out of business”.
“We want the private sector to live and partner government in the socio-economic development of the country,” he added.
Mr Baah said the Chamber would encourage its members in the energy sector to partner other investors in affordable energy production.
He said the Chamber under his leadership was looking forward to creating a visible, well resourced Chamber with national representation which was responsible for only the best for the business community.
Mr Baah said the Chamber was undergoing restructuring to compete favourably with other Chambers worldwide and was working on a new long term strategic plan to that effect.
He said the GNCCI, in collaboration with the Ghana Agricultural Producers and Traders Organisation, the Ghana Farmers and Cargo Transporters Association and with the support from the BUSAC Fund would undertake an advocacy action on the inclusion of the private sector in the establishment of a Commodity Exchange.
Mr Baah said the project would contribute towards strengthening the culture of doing business by creating a transparent, innovative and efficient marketing system for buyers and sellers especially the small scale farmers.
The Chamber would be celebrating 250 years of the establishment of the first chamber in the then Gold Coast and 50 years of the legislation setting up the current chamber this November.
Some of the activities for the week-long celebration include a business forum, seminar and exhibition, health walk, a film festival, clean up exercises, radio and Television discussions, Golf Tournament, fund raising and an Awards Night.
Source: GNA