Deputy Minister of Trade and Industry says the government has put in place strategies to double exports by the end of 2019.
Carlos Ahenkorah said “The intention of my Ministry and by extension, the government is to double exports by the end of 2019.”
Mr Ahenkorah has been outlining the government’s strategy to increase exports as a measure of stabilizing the Ghana cedi in the longer term.
He was speaking on PM EXPRESS BUSINESS EDITON on JoyNews channel on Multi TV on Thursday.
He said, “We at the Ministry of Trade have mentioned that the major solution to this problem is to increase or improve exports and what we are doing in this department is to get the Ghana Export Promotion Authority to lead the discussion on the national expo strategy, which they have done. Now it is left with the implementation where we are going to roll out very soon for people to see what we plan to do.”
He added that “By so saying, what we are doing as a strategy is to identify the top 20 exports of the country, see what the challenges are and see what we can do to improve the lots of these companies and push them as far as we can for them to improve on their production that they are doing… so the more exports that we are able to do the more we put our cedi in better shape.”
Mr Ahenkorah said, “What has happened in the past with this fall of the cedi I would say is not very normal and that we haven’t seen anything like that in the economy as far I am concerned.”
“Even if it happened it, it happened a very long period of time so it should tell us that something should have kicked-start this free fall and I can conveniently say that there is a very good reason that this happened…it was something that beyond our control. It was something that was orchestrated by previous events which if he [Vice President] comes out to explain we would all understand why it happened like that…”
He encouraged Ghanaians to participate in the upcoming town hall meeting with the Vice President and that platform would offer an explanation as to what happened to the cedi.
Also speaking on the same programme, Prof. Eric Osei Assibey said huge income transfers put pressure on the economy.
He said authorities must be active in applying sanctions to corporations and individuals who flout the rules on the pricing of goods and services in dollars.
Prof. Assibey said, “I think it’s about sanctioning, we having an effective sanctioning regime is to be able to sanction corporations and individuals that flout these rules; because these are very simple rules that, do not price your rules and services in dollars so if you flout its action should be taking.”