Don't sell GCB says PNC

Accra, July 10, GNA- The People's National Convention (PNC) on Thursday called on the government not to sell it shares in the Ghana Commercial Bank (GCB) saying, instead it should create better avenues for the bank to operate.

A release signed by its leader Dr Edward Mahama said instead of government divesting its shares in GCB, a Parliamentary Act should extend the mandate of the Bank to enable it to support off budget transactions of government and private sector- Greenfield and existing private sector projects.

It said the PNC and its Coalition Partner, the Egle Party believe that the GCB was the bedrock of any modern financial infrastructure of this country and with the mandate the bank would be able to call upon investors to invest the products that the GCB guaranteed as a private sector bank.

"The painfully slow development of our country is for lack of an efficient and very responsive financial infrastructure for our development," the statement said. The release added that arguments advanced by the NPP Administration were not 'tangible, convincing or persuasive enough' for the sale of the shares.

"After two years of the HIPC initiative, poverty continues to rise, unemployment is not relenting and the feeling of helplessness and hopelessness are everywhere', it said.

CPP elects officers for two constituencies

Kade (E/R), July 10, GNA- The Eastern Regional Chairman of the Convention People's Party (CPP), Nana Owusu-Sekyere, has warned new constituency executives of the party to be prepared to work hard to strengthen the cause of the party or face removal.

He gave the warning when he swore-in the executives for the Kade and Ayensuano constituencies in the Eastern Region on Wednesday at separate delegates' congresses.

Nana Owusu-Sekyere noted with satisfaction that there was peace in the party in the region and urged other regional branches to let peace prevail among them to enhance the party's chances of winning 2004 elections.

He called on Nkrumaists "sitting on the fence to come back home to assist in winning power to redeem Ghana's lost image."

The Regional Chairman asked the officers to feel proud to serve the CPP "as a party that won independence for Ghana."

Mr Owusu-Sekyere said the effectiveness of the party's free education in the First Republic was the fact that "today the country can boast of learned people" but wondered why the government "side-steps these brilliant brains and goes in for foreign consultants and technocrats."

He reminded Ghanaians of the good works of the party under the leadership of Dr Kwame Nkrumah and said the party should be returned to power ''as it is the only party that could save Ghana from its present predicament.''