A presidential aspirant of the New Patriotic Party (NPP), Alan Kyerematen, has described economic policies pursued over the years by several governments as a ‘cul de sac’.
The phrase refers to a dead-end situation without alternative routes.
Speaking on URA Radio in Bolgatanga on the Upper East leg of his nationwide tour, Mr Kyerematen pointed out that “the narrow focus of Ghana’s continued reliance on cocoa, gold, and a few primary raw material exports, is a ‘cul de sac’ orientation to economic management that has limited growth in the economy.”
The NPP flagbearer aspirant said cocoa, for example, has brought in under $ 2 billion per annum into the Ghanaian economy annually over the past decades. However, the President’s Special Initiatives (PSIs), initiated by him, comprising four simple local products salt, oil palm, cassava and garments, could have unleashed a potential combined annual income stream of $60b a year.
“But policy distortion and irregular political choices reduced the nation’s capacity to grow and benefit from the PSIs.
“Currently, the 10-point strategic growth pillars developed and implemented during my tenure as Minister for Trade and Industry, have brought in 1D1F, the automotive industry, and others,” he said.
Speaking to the Great Transformational Plan (GTP), Mr Kyerematen said the country deserves leadership with a big vision. “A vision that moves us beyond ‘cul de sac’ into strategic growth areas following through on the GTP,” he explained.
Mr Kyerematen touted his role in the design, establishment and implementation of the African Continental Free Trade Area (AfCFTA), which brings together a market of nearly a billion and a half consumers for producers within the diversified economy, necessary to expand opportunities for the youth.
On the same programme, Mr Kyerematen reiterated his desire to modernise NPP into a formidable force to better drive public policy and enable better mobilisation of communities towards opportunities.
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“I will create a businesslike party, capable of generating independent financial, technical and human resources with ability to influence government appointments, especially at the local level.”
The Upper East Region is the 10th region to have been visited by the Alan Kyerematen for President campaign after Ashanti, Bono East, Bono, Ahafo, Western North, Volta, Eastern, Oti and Northern Regions.