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Business News of Sunday, 26 November 2023

Source: atinkaonline.com

24-hour economy: Where is the demand for local products? – William Sangmor questions NDC

National Communications Officer for the New Patriotic Party, William Sangmor National Communications Officer for the New Patriotic Party, William Sangmor

A National Communications Officer for the New Patriotic Party (NPP), William Sangmor, has questioned the National Democratic Congress (NDC) where factories will get demand from if they ask them to produce 24 hours and seven days a week.

This follows the NDC’s assurance to run a 24-hour economy when elected back into power.

During a campaign rally in the Bono East Region, former president John Dramani Mahama stated that he would implement a 24-hour economy policy.

According to him, the 24-hour economy goes beyond simply extending the operational hours of existing businesses.

“If one factory is doing 24 hours, that is not what I’m talking about. Everybody should be encouraged to do a 24-hour shift. We have the harvest season now and factories that are processing agricultural products should be able to run two shifts,” Mr. Mahama explained.

“We will give incentives for everybody who wants to run a 24-shift system to be able to do that so that more young people will be employed,” he added.

But the Vice President, Dr Mahamudu Bawumia criticized John Mahama’s proposed 24-hour economy policy, calling it ill-conceived and lacking innovation.

Speaking on Atinka TV’s morning show, Ghana Nie with Bernard Lav, William Sangmor, who has experience in the production of goods, noted that some of these private companies are already running a 24-hour shift.

However, he observed that some do not go 24 hours because the demand for their locally produced products is minimal.

Although the system is running already under the current administration, he admitted that it was running slowly because the producers do not have the markets.

William Sangmor said the private sector producers will not produce more because there are no demands, adding that they will only produce if the demands are high.

“I heard them say they want all the companies to operate 24-7. With the 24-7, where is the demand?” he quizzed.

He was of the belief that until Ghanaians make a conscious effort to consume or patronise locally manufactured products, local producers will not get the expected markets to produce more.

William Sangmor, therefore, encouraged Ghanaians to patronise more locally manufactured products in order to increase demand for the companies to be able to run 24-hour shifts.