President Mahama commits to regular private sector engagements - Dr. Ishmael Yamson…

Economist and Chairman of the National Economic Dialogue Dr. Ishmael Yamson has revealed that President John Mahama has expressed commitment to embark on regular engagement with the private sector.

This, Dr. Yamson says will be done through the proposed Economic Council, which could be meeting every quarter, subject to the approval from President Mahama. The formation of the Economic Council will also set out the focus and areas that will guide the engagements.

Dr. Yasmon disclosed this on PM EXPRESS BUSINESS EDITION on March 6, 2025 with host George Wiafe.

He was speaking on the recently held National Economic Dialogue and the way forward to achieve real economic freedom after 68 years of Ghana’s Independence.

He said the President has also committed to regularizing the National Economic Dialogue.

According to him, the president intends to use the dialogue as an “Open Door Policy” to consistently engage the private sector.

Private Sector’s role in the economy

Speaking on the Show, the Dr. Yamson rejected arguments that the private sector did not play a lead role in helping stabilize the economy.

“Most multi nationals and firms in Ghana, have always had a fraction of their profits for corporate social responsibility initiatives and even other initiatives that have gone a long way to support infrastructure development in the Ghana”, he argued.

“Looking at the challenges facing the economy now, one of the surest ways to deal with the infrastructure deficit, is to embark on some Private Public Partnership initiatives, to deal with this challenge”, he suggested.

Dr. Yamson maintained that, lot more needs to be done for the private sector, by creating the right environment and provide the necessary incentives for them.

2025 Budget

Dr. Yamson charged the Finance Minister to make fiscal discipline a major priority, adding that “this is what we need to fast track the economic recovery that Ghana needs now”.

“We don’t any excuses during these times not to be prudent with expenditure. We want to send the right signal to the private sector”.

He stated that the current challenges facing the economy is not only revenue collection.

“We should also not forget the situation can be addressed if we check our expenditure, especially when we ensure that there is value for money” Dr. Yamson observed.