The Public Services Workers Union (PSWU) of the Ghana Trades Union Congress (TUC) has opposed attempts by the Government to divest its interest in the Agricultural Development Bank (ADB).

It was the view of the union that due to the "crucial role" ADB plays in national development and especially against the backdrop that agriculture remains the mainstay of the Ghanaian economy, it would not be right for the government to sell its shares in the bank.

It said: “We would like to caution government that the Agricultural Development Bank is playing a crucial role in the nation's agriculture sector which is the back bone of the national economy".

Mr Abraham Tetteh Okine, General Secretary of the PSWU said this in an address to delegates attending the Eastern Regional conference of the union at Koforidua on Friday.

According to the General Secretary, the PSWU is not only against the alleged take over, but also in the interim wants the Government "to come clear about its intentions so as to defuse the unnecessary tension that is being built by the workers and the section of the populace" as a result of the allegation.

Stanbic Bank recently expressed its intention to stake a majority claim in the Agricultural Development Bank but the PSWU would rather prefer a re-capitalization of the bank.

"We sincerely prefer the re-capitalization of the bank (ADB) to enable it continue to play its role in the agriculture sector," Mr Okine added.

Mr Okine also appealed to the Ministry of Labour, Manpower and Youth to expedite work on the Legislative Instrument (LI) on the Labour Act, explaining that recent labour unrest in the country "was partly due to the non-availability of the LI".

He appealed to all members of the PSWU to help give it a new outlook and image in line with the exigencies on the labour front.

Source: GNA