I agree with Otumfuo; there are many more state-owned enterprises that must be privatised – Kwadwo Poku

Energy Expert Kwadwo Poku has said he agrees with the call by the Asantehene to privatise the Electricity Company of Ghana (ECG), Volta River Authority (VRA), and the Ghana Grid Company Limited (GRIDCo).

In his view, there are many more state-owned enterprises that I think must be privatised.

“I agree with the Asantehene. There are many more state-owned enterprises that I think must be privatised.

“I am for the divestiture of some state-owned enterprises. However, before you can list them, the company should be making profit. You cannot list an unprofitable organization on the stock exchange,” he said on Key Points, April 20, 2024.

Speaking during the commissioning of a 430-kilometre natural gas pipeline by Genser Energy, in Kumasi on Wednesday, April 17, he said “It’s about time that the government realizes that it’s not going to work for the government to be involved in setting up companies without involving the private sector, it doesn’t work.

“The government should confront policies and involve the private sector and you can attract more investors into the country which will create more employment.

“VRA and others are all government establishments, let’s give it out and diversify them into the private sector and get more money there and get the right people to do it. GRIDCo and others let’s give them the money and get the qualified people, diverse government from it and let them work.

“Electricity Company is in a situation where we don’t know, but that also must be diversified and given to the private sector.

https://3news.com/featured/diversify-vra-gridco-and-ecg-otumfuo-tells-govt/

“Why are we still holding on when we don’t have the money? We’re not able to collect all the taxes we want, we’re going to IMF and all those for money. We’re hanging onto industries we cannot maintain and run.”

He added “It’s about time we face reality and decide on what government should be doing and what the private sector should be doing. This is a testimony of the private sector, and they were able to attract investors.”

 

 

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