We need a mixed market economy in Ghana- Dr. Stephen Amoah

The Member of Parliament (MP) for Nhyiaeso Constituency in the Ashanti Region, Hon. Dr. Stephen Amoah popularly known as Stica, has asserted that there is the urgent need for economic policy redefinition in the country, reports.

He insists that it is currently more necessary; at a time where government is in search for the rightful channel to fix the weak economic fundamentals and prevailing conditions bedevilling the nation.

Dr. Amoah, particularly emphasized that the adoption and practice of a mixed market system has a bigger advantage of helping achieve an economic overturn and drastic growth best suitable for our present condition, reports.

He spoke extensively on Kumasi-based Pure FM’s ‘Pure Morning Drive’ program with Kwame Adinkrah.

Addressing the subject of market profiteering, Dr. Amoah echoed that operating a mixed market economy will allow for a free market where prices are determined by supply and demand but still paves way for government interference in economic activities when necessary.

“We need to operate a mixed market economy. In this time, there should be a redefinition of our corporate focus as a country. There are so many things fundamentally wrong not only the fault of this government but previous ones too.”

“Government will not totally control prices but introduce price cap (a price range system) on products, services or goods controlled by an individual company and that is to prevent economic distortion. Every normal rational human being is a profiteering by nature hence that is the system we need now.”

“About forty to fifty years now, there are so many things needing change, even our constitution needs change. Until all these necessities are done, we will make and deploy all decisions in futility. So the mixed market economy is extremely important.” Stica stated.

According to Dr. Stephen Amoah, it relies on government to set up an intersection between both the Finance and Trade Ministries to control trading activities.

“Look, Ghana, we need serious thinkers now. Both NPP and NDC should be honest with God and the man and admit we played partisan politics harming ourselves. Let’s tell the citizenry that it is done with and we are now working for the better future of Ghana.

“I am pained that the country is challenged by so many basic things we are unable to solve”, he intoned.

In his conclusion, he noted that issues of pricing policy is not above the capabilities of the country but demands the application of stringent measures.

Source: II 2022

Evans Osei-Bonsu

Evans is a radio producer @PureFM (95.7MHz) under the Angel Broadcasting Network (ABN Ghana), writer, student of Law and Politics at the Kwame Nkrumah University of Science and Technology (KNUST).

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