The People's National Convention (PNC) yesterday protested against what the party said is the NPP government policy of the sale and transfer of viable state assets to foreigners.

"The PNC is in total disagreement with the pure capitalistic policies being pursued for the benefit of the few rich by the New Patriotic Party (NPP) government including the sale and transfer of viable state assets to foreigners and the unreasonable increases in utility tariffs without the commensurate increase in salaries and wages," it said.

Mr Issifu Azuma, PNC Member of Parliament for West Mamprusi, made the protest at a press conference in Accra.

He mentioned in particular the intention by government to privatise and sell the Ghana Water Company to foreigners and said; "water is a life depending commodity and the poor would languish in poverty when sold".

He said the PNC also disagreed with the government's wholesale implementation of the International Monetary Fund (IMF) and World Bank sponsored policies including joining the Heavily Indebted Poor Countries (HIPC) initiative without involving stakeholders in making the decision.

Mr Azuma said the PNC believed in self-reliance and called for a pragmatic way of solving the numerous problems that confront the country by providing women and the youth with development projects.

Dr Edward Mahama, Leader of the party, described the NPP government as the worst that Ghana has ever had and called on other parties to campaign vigorously to unseat it in the 2004 polls.

He said PNC's support for the NPP during the run-off was to push for the change that everyone needed at the time, adding, that the change never helped Ghanaians since conditions are worse than the former National Democratic Congress (NDC) government.

Mr Gabriel Pwamang, General Secretary of the PNC, announced that the party stands ready to work together with all parties, groups and individuals who would help to salvage the Ghanaian economy.