Business News of Tuesday, 1 August 2023

Source: peacefmonline.com

Mid-year budget: I feel ashamed when I hear about 'failed' PFJ initiative - Kwesi Pratt

Editor of the Insight Newspaper, Kwesi Pratt Jnr Editor of the Insight Newspaper, Kwesi Pratt Jnr

Seasoned Journalist, Kwesi Pratt Jnr has expressed disappointment in the Akufo-Addo administration following the mid-year fiscal policy review presented by the Minister of Finance, Ken Ofori-Atta on Monday, July 31, 2023.

Delivering the mid-year budget review in parliament, Ken Ofori-Atta highlighted the current fiscal status of Ghana's economy, achievements of the Akufo-Addo government and measures initiated by the government to improve the economy.

From sector to sector, the Finance Minister underscored some structural reforms in expenditure commitment control and arrears clearance, debt management, financial stability and the mitigating steps in addressing the economic challenges to ensure Ghana's full recovery.

One key policy the Minister touched on that has caught the attention of Kwesi Pratt is the "Planting for Food and Jobs".

"Mr. Speaker, Planting for Food and Jobs has brought substantial improvements in Ghana’s agriculture sector. This has resulted in increased food security, employment along agricultural value chains, and accessibility of raw materials for developing industries. The programme has directly contributed to increased crop yields for major food staples such as maize, rice, and soya by 135 percent, 67 percent and 18 percent respectively within the period.

"After a comprehensive review, government is finalising PfJ Phase II to ensure a more efficient and targeted support for the agricultural sector. The key elements of Phase II are Inputs Credit System, Storage and Distribution Infrastructure, Commodity Trading and Digitised Platform," the Minister hailed the government for a good work done in revamping the agricultural sector.

But to Kwesi Pratt, the budget review doesn't solve the real situation facing Ghanaians.

Speaking on Peace FM's morning show "Kokrokoo", Kwesi Pratt Jnr bemoaned the inability of the government to ease the financial burdens on Ghanaians as well as its economic woes visited upon the nation.

Tackling the government's "Planting for Food and Jobs" policy, Mr. Pratt noted this policy has not been useful to the nation.

"I feel ashamed when I hear about the failed Planting for Food and Jobs," he told host Nana Yaw Kesseh.

He wondered why Ghana till date still import basic foodstuff like tomatoes, revealing the country imports tomatoes from Burkina Faso to the tune of 600 million dollars annually.

He stated there are arable lands in the country for cultivation of tomatoes and other food products, therefore questioning the need for the food imports from foreign countries.

"Ghana is the third largest importer of tomato paste from Germany. Is this not shameful?...A country with the largest man-made lake in the world and in the south, we have the Atlantic Ocean but we import fish. What crime have we committed? What type of leaders do we have in this country?", he blasted the government.

He also slammed the government over their intent to implement a second phase of the policy, asking "where did the first phase take us?"

"The second phase of the Planting for Food and Jobs, what is it coming to do that is substantially different from the first phase in 7 years which was total failure, complete failure?"

Mr. Pratt opined that the Akufo-Addo administration has failed woefully to better the living conditions of the citizenry, stressing "our situation isn't good at all. It is very disturbing".