“Keep the faith, no condition is permanent.” That is the Progressive Peoples Party’s message to private entrepreneurs who lost their institutions as a result of the New Patriotic Party (NPP) government’s “financial sector clean-up” exercise.
Several universal banks, savings and loans companies and financial houses have been collapsed in what the government claims is an exercise to revive the sector.
According to the Nana Akufo-Addo led government collapsing the institutions was a necessity.
The PPP in a May Day message signed by its 1st Vice Chairman William Dorworkpor said the move was ill-motivated and flew in the face of the tried and tested model of economic transformation.
The PPP said governments who are genuinely interested in economic transformation use their purchasing power to “trigger viable economic activities where there is little or none and scale up productivity in existing growth sectors to meet the employment needs of the country.”
The PPP expressed optimism that there will be a turnaround in the situation soon and urged the entrepreneurs behind the closed banks not to give up.
“And to the owners of those indigenous enterprises in the sector who provided jobs to our fellow Ghanaians, we say “keep the faith, no condition is permanent”, restoration is on the way. The Ghanaian banking sector must find its way back home to their Ghanaian owners,” the PPP stated.
The PPP also had a message for those who lost their jobs as a result of the exercise.
“On this workers’ day, our hearts go out in solidarity to the tens of thousands who have lost their jobs, livelihoods and ability to care for their dependents as a result of the ill-motivated collapse of the banking and financial services sector of our economy,” the statement indicated.
Source: Sena Nombo/Radiogoldlive.com
