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General News of Thursday, 19 November 2015

Source: citifmonline

Blame all governments for dumsor - Abu Sakara

The Convention People’s Party (CPP) 2012 Presidential candidate, Dr. Abu Sakara, has attributed the nation’s endless power crisis known as “Dumsor” to what he described as the “clueless and visionless leadership” Ghanaians have experienced in the past three decades.

“There is nevertheless a high cost of doing business for everybody and this is exasperated by the limited and unreliable supply of power (so called Dumsor) that has gripped the nation in recent years. What is important to know is that neither the architecture of the dysfunctional economy nor the shortage of power supply happened over night.”

“These are trends that have deepened over successive administrations and culminated in crucible of pain in the current administration. It would have happened anyway because we had already accumulated too much debt and power demand had already outstripped supply by a long shot when losses in transmission are taken into account,” he lamented. Dr. Abu Sakara Foster was delivering a lecture on the topic, “Which way Ghana” at the Tamale City campus of the University for Development Studies (UDS).

He maintained that the nation’s power crisis was generic for which reason nobody or a particular government could solely be held accountable.

“The issue at hand is not that it is nobody’s fault or a particular person’s fault. It is that we must find fundamental solutions to fundamental problems using a radically different approach to the one of minor incremental gains in reduction of the effects of the problem.”

Dr. Sakara implored government to adopt multifaceted approach in solving the power crisis which he considered as the engine of growth.

“We must go back to the drawing board and agree the painful processes necessary for lasting solutions to work. It must be explained and no one should attempt to appease the public with a “quick fix” approach that only breeds disappointment. Leadership must remain focused and resolute with implementation of their plan to rid us of this menace even amid insults and derision.”

He decried successive governments’ over reliance on the Bretton Woods institutions for external funding to fix the myriad economic challenges that have bedeviled the nation overtime.

“Excessive borrowing either from the domestic market or foreign market has always put governments under severe pressure. Indeed, from first the Republic up till now, without any exception, huge debts have also been the number one challenge that has caused their downfall.”

“The diminishing capacity to grow our economy from internally sourced funds is causing whole sale transfer of our crucial light manufacturing industry into the hands of foreign investors who bring in foreign direct investment. Our local entrepreneurs are increasingly junior partners and some become workers glorified by executive titles,” he fumed.

Dr. Sakara suggested the need for succeeding governments to cut down on unnecessary expenditure. “The economic challenge of our time is a nation that increasingly spends more than it earns and has decreasing means of generating additional wealth through internally sourced investments.”

“The resultant erosion of living standards from higher costs of living relative to incomes has affected a wide cross section of income groups: those with fixed wages like the public sector are most severely affected,” he bemoaned the situation.

Dr. Abu Sakara advised government to ignore needless public criticisms in the media and deliver its mandate. “After all, it is only they who can execute, all others can only comment. If they lose focus by joining in the commentary we will all be the losers.”

He also condemned the mystery surrounding the nation’s oil revenue. “The discovery of oil in commercial quantities in 2007 brought so much hope to the country unfortunately that rather led to over expenditure and borrowing whose dividends we are yet to see.”

“The payment of dubious judgement debt has however triggered a loss of confidence that there will be the prudent spending needed to get us out of the quagmire heavy debt burden and a crippling power crisis with its attendant effect on the economy,” Dr. Sakara fumed.