Economy of Ghana Network II re-launched in Accra

The Economy of Ghana Network(EGN), Phase II, a deliberation platform for people interested in the socio-economic transformation of Ghana, was on Thursday re-launched in Accra.

It is also for the persons to share ideas and research findings on what they believe are the best policy options available to the Ghanaian policy maker.

Professor Peter Quartey, Projector Coordinator of EGN Phase II, said the first phase of the project was between the period of 2005 and 2008.

He said in 2008, the second phase was commissioned partly due to the gains made with the first phase of the project and it was as a result of the need to restructure and improve the work of the network.

He said “the EGN Phase II is being hosted by the Institute of Statistical, Social and Economic Research and funded by the African Capacity Building Foundation.”

Prof Quartey said the network would also establish a pool of human resource with adequate capacity in development policy analysis, research and management who can respond rapidly to the needs of policymakers.

“To provide knowledge resources for guiding the design, implementation and monitoring and evaluation of the effectiveness of development policies and programmes in the country,” he said.

The Project Coordinator said it was also to foster a more deliberate engagement with the policymaking process and thereby promote greater stakeholder participation and knowledge utilization in development policy formulation and management.

Prof Eric Osei-Assibey, Senior Lecturer, Department of Economics, University of Ghana, in a presentation on the topic: “Energy Subsidy and the Rising Wage Bill, where lies the controversy”, said investors always avoid sector of the economy where government subsidized highly.

He said any future subsidy should be pre-determined and budgeted for with parliamentary approval and appealed to government to resume payment of its electricity bills on time and clear all arrears.

Prof Osei-Assibey said government should scrutinize the list of government bodies whose electricity consumption it pays and assess which one to remove from the list.

“Government should make immediate efforts to improve its revenue collection performance to reduce payment arrears from private consumers,” he added.

He called on government to provide a more efficient and affordable public transport system which should be powered by subsidized fuel.

“There cannot be a blanket subsidy,” Prof Osei-Assibey noted.

Source: GNA