{"id":60341,"date":"2023-11-22T17:43:11","date_gmt":"2023-11-22T17:43:11","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=60341"},"modified":"2023-11-22T16:52:41","modified_gmt":"2023-11-22T16:52:41","slug":"recapitalise-distressed-state-entities-to-propel-growth-tuc","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/recapitalise-distressed-state-entities-to-propel-growth-tuc","title":{"rendered":"Recapitalise distressed state entities to propel growth \u2013 TUC"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The Industrial and Commercial Union (ICU), Ghana is advocating a recapi\u00adtalisation of all viable state entities which are struggling due to current economic challenges, to accelerate the country\u2019s economic recovery.<\/b><\/p>\n

Mr Morgan Ayawine, the Gen\u00aderal Secretary, ICU, said although the recapitalisation of the National Investment (NIB) Bank with GH\u00a24 billion as captured in the 2024 budget statement of government was laud\u00adable, there was the need to revamp other struggling state entities such as the Produce Buying Company (PCB), Aluwork Ghana and Neoplan Ghana Limited to propel the country\u2019s growth.<\/p>\n

Mr Ayawine stated this during a me\u00addia encounter with ICU, Ghana on its reaction on the 2024 budget in Accra on Monday<\/p>\n

Some of the areas the meeting discussed were on unemployment, tax reliefs and recapilisation of the financial sector.<\/p>\n

He commended the government for plans in recapitalising the NIB, among others, to resuscitate the financial sec\u00adtor saying that \u201cwe believe this gives NIB a new lease of life to continue its mandate of financial industries in the country for economic and progress.\u201d<\/p>\n

Mr Ayawine urged the government to scrap overtime tax which had been in existence for long time.<\/p>\n

He expressed disappointment over the delay in the scrapping of overtime tax, adding that abolishing that tax would help reduce economic hardship on workers, adding that overtime helped to boost the pockets of work\u00aders and enhanced productivity.<\/p>\n

The General Secretary said tax relief on sanitary pads, electricity vehicles, among others, although commendable, was not advantageous for workers.<\/p>\n

He therefore, called on the govern\u00adment to formulate policies to tackle unemployment which had become a canker in the country.<\/p>\n

\u2018Unemployment is becoming a dire situation in the country, government should put in place policies to deal with unemployment to address pov\u00aderty and other social vices among the youth,\u201d he added.<\/p>\n

It is recalled that Mr Ken Ofori-At\u00adta, the Minister of Finance, presented the budget statement dubbed \u201cNkun\u00adim budget\u2019 on the floor of Parliament on Wednesday, November 15, 2023.<\/p>\n

The presentation was in line with Article 179(1) of the Constitution which mandates the President to \u201ccause to be prepared and laid before Parlaiment, at least a month before the end of the financial year estimates of revenue and expenditure for gov\u00adernment of Ghana for the following financial year.\u201d<\/p>\n

At the presentation, the minister said the government had projected to spend GH\u00a2226.7 billion (21.6 per cent) of the Gross Domestic Product next year, in its bid to build back bet\u00adter, maintain macroeconomic growth and stability as well as create jobs for teeming youth.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. The Industrial and Commercial Union (ICU), Ghana is advocating a recapi\u00adtalisation of all viable state entities which are struggling due to current economic challenges, to accelerate the country\u2019s economic recovery. Mr Morgan Ayawine, the Gen\u00aderal Secretary, ICU, said although the recapitalisation of the National Investment (NIB) Bank with GH\u00a24 billion as captured […]<\/p>\n","protected":false},"author":84,"featured_media":60340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-60341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nRecapitalise distressed state entities to propel growth \u2013 TUC - Ghana<\/title>\n<meta name=\"description\" content=\"The Industrial and Commercial Union (ICU), Ghana is advocating a recapi\u00adtalisation of all viable state entities which ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/recapitalise-distressed-state-entities-to-propel-growth-tuc\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Recapitalise distressed state entities to propel growth \u2013 TUC\" \/>\n<meta property=\"og:description\" content=\"The Industrial and Commercial Union (ICU), Ghana is advocating a recapi\u00adtalisation of all viable state entities which ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/recapitalise-distressed-state-entities-to-propel-growth-tuc\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-22T17:43:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/11\/sm_1700658933.684613.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/recapitalise-distressed-state-entities-to-propel-growth-tuc#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/recapitalise-distressed-state-entities-to-propel-growth-tuc\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Recapitalise distressed state entities to propel growth \u2013 TUC\",\"datePublished\":\"2023-11-22T17:43:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/recapitalise-distressed-state-entities-to-propel-growth-tuc\"},\"wordCount\":446,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/recapitalise-distressed-state-entities-to-propel-growth-tuc#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/11\/sm_1700658933.684613.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/recapitalise-distressed-state-entities-to-propel-growth-tuc#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/recapitalise-distressed-state-entities-to-propel-growth-tuc\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/recapitalise-distressed-state-entities-to-propel-growth-tuc\",\"name\":\"Recapitalise distressed state entities to propel growth \u2013 TUC - 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