Finance Scholar Backs 24-Hour Economy Goal but Warns Against Costly Bureaucracy | News Ghana
Speaking on TV3’s KeyPoints (July 5), Bokpin endorsed the policy’s intent to transition Ghana “from deformity to value addition” but stressed execution efficiency over new bureaucracies.
His remarks countered National Petroleum Authority CEO Dr. Godwin Edudzi Tameklo’s suggestion that a dedicated authority might oversee the initiative. “Existing institutions like the Finance Ministry can monitor fiscal aspects,” Bokpin argued, advocating instead for cost containment and regular progress reports to ensure accountability. He specifically urged reevaluation of the policy’s projected GHC4 billion price tag.
Tameklo reiterated that civil society and businesses were consulted before the July 2 launch, rejecting claims of partisan exclusivity raised by political scientist Dr. Joshua Zaato. Private lawyer Martin Kpebu echoed calls for transparency, renewing his proposal for six-month implementation updates from the 24-Hour Economy Secretariat.
The debate unfolds amid improving economic conditions, with June data showing local inflation (14.0%) cooling faster than import inflation (12.5%) potentially easing operational costs for round-the-clock enterprises.
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