The General Secretary of the opposition National Democratic Congress, Honorable Fifi Fiavi Kwetey has strongly touted the transformational power of the party’s flagbearer, former President John Dramani Mahama’s proposed 24-hour economy policy.
Mr Kwetey, while reacting to the introduction of Court shift system by the Chief Justice, posited that the 24-hour economy policy by Mr Mahama is not just an alternative policy idea but also an assertive shift, to redesign Ghana’s economic framework.
According to Mr Kwetey, the 24 hour economy policy if implemented, would go a long way to infuse the country’s market with the energy and efficiency it desperately needs to spur economic development and transformation.
“The recent judicial announcement to adopt a 24-hour court shift system exemplifies the policy’s potential impact and feasibility. This shift, driven by the need to alleviate case backlogs, embodies the kind of proactive leadership and management decision-making central to the 24-hour economy’s ethos.
“Such decisions, far from being spontaneous, require meticulous planning and execution, including bolstered security, expanded infrastructure, and increased judicial personnel, underscoring a comprehensive response to supply-side constraints”.
Fifi Fiavi Kwetey
Drawing parallels with Keynesian economic theory, which advocates for proactive measures during economic downturns, the opposition party’s Chief Scribe asserted that Mr Mahama’s 24-hour economy policy aims to stimulate both supply and demand through strategic government intervention.
Furthermore, the former Member of Parliament for Ketu South in the Volta Region recounted that in the likelihood the party wins the December 7 polls, it shall setup a specialized secretariat to ensure cross-sectoral policy implementation that would promote legislative reforms as well as providing a suite of incentives to drive inclusive participation.
He noted that such incentives include tax exemptions, capital and financial support, specialized utility tariffs, enhanced security measures, and the creation of an enabling working environment among others.
Mr Kwetey further indicated that such measures are collectively designed to integrate the country’s economic activity with the global market’s continuous rhythm, which would ultimately position the country for dynamic growth and sustainable development.
24-Hour Economy Beneficial To Both Private And Public Sector
Moreover, the National Democratic Congress General Secretary, Honorable Fifi Fiavi Kwetey stated that the voluntary nature of the party’s 24 hour economy policy makes it applicable across public and private sectors with the aims to unleash Ghana’s full productivity potential.
Mr Kwetey further expressed his optimism that the party’s 24- hour economy policy when fully implemented, would foster rapid industrialization, growth, export expansion, foreign exchange accumulation, and also help to resolve the country’s alarming youth employment situation.
Mr Kwetey concluded by emphasizing that, the Chief Justice’s Court Shift system initiative serves as a testament to the viability of the 24-hour economy policy as it has established a precedent for its broader application across key economic sectors in the country.
According to him, the country’s adherence to traditional economic approaches has not borne the desired fruits, particularly under the New Patriotic Party administration, which has culminated in an exacerbation of the country’s economic adversities.
Mr Kwetey bemoaned what he described as the ballooning of the country’s national debt, escalating unemployment rates, depreciating currency value, and surging inflation.
He stressed that such challenges are not merely cyclical anomalies but are “symptomatic of deep-seated policy inadequacies” and mismanagement that require a strategic economic realignment to address.
Mr Kwetey, thus noted that as the country finds itself on the brink of a significant transformation, ready to transition from economic stagnation to dynamic growth, the 24-hour economy policy proposed by the National Democratic Congress flagbearer, former President John Dramani Mahama is undoubtedly the path forward.
