The Minister for Finance, Dr. Cassiel Ato Forson, has announced that the government’s proposed 24-hour economy policy will soon be presented to Parliament for approval. This groundbreaking initiative, championed by the Mahama-led National Democratic Congress (NDC) government, is designed to boost economic productivity and create a more dynamic economy.
Dr. Forson made the announcement on Tuesday, March 11, during his presentation of the 2025 Budget Statement and Economic Policy to Parliament. Highlighting the significance of the policy, he described it as a transformative approach aimed at optimizing infrastructure usage, creating jobs, and fostering sustainable economic growth by encouraging businesses to operate round the clock.
“The Mahama-led NDC government remains committed to the pursuit of the 24-hour economy policy as a catalyst for economic transformation. It is a bold step toward enhancing opportunities and inclusivity in employment,” Dr. Forson stated.
He further explained that the 24-hour economy aligns with the administration’s vision to unlock Ghana’s economic potential and ensure equitable access to job opportunities across various sectors. Proponents of the policy argue that it will maximize the utilization of infrastructure, streamline resource allocation, and significantly enhance productivity in sectors such as manufacturing, services, and transportation.
To ensure a seamless implementation, the Finance Minister assured Parliament that necessary measures, including incentives for businesses willing to operate beyond traditional working hours, are being put in place. These measures, he said, are part of the government’s broader economic transformation strategy aimed at driving industrial growth and attracting both local and foreign investments.
“The success of this policy will depend heavily on collaboration between the public and private sectors. We urge Parliament to support this initiative when it is formally submitted for consideration,” Dr. Forson emphasized.
A comprehensive framework detailing the operational and regulatory aspects of the policy is expected to be submitted to Parliament for thorough deliberation. Once approved, the 24-hour economy policy will mark a significant step toward realizing Ghana’s ambition of becoming a globally competitive and resilient economy.
Story by: Mercy Addai Turkson #ahotoronline.com
