Business News of Thursday, 7 July 2011

Source: GNA

Modern markets to be built across the country

Dambai (V/R), June 7, GNA - Modern markets with commensurate social amenities are to be built in the regional and district capitals as well as some major towns across the country.

Each of the proposed regional and district markets are each estimated to cost 36 million cedis and 12.5 million cedis respectively while each of the major towns market would cost 8.5 million cedis.

Mr Ben Piasah, a Director at the Ministry of Trade and Industry, said this at the launch of 93National Every-Day Wear" at Dambai.

The National Every-Day Wear seeks to popularize the patronage of local fabrics as part of initiatives to revive the local textile industry.

Mr Piasah said drawings of the proposed markets would be presented to Metropolitan Municipal and District Chief Executives in their regions for discussion.

He said the markets were part of government's policy initiatives to create the necessary conditions to boost domestic trade and commerce.

Mr Piasah said the Ministry's Taskforce on pirated fabrics would continue to search for, seize and burn them until the practice loses its financial attraction to those making financial gain from it.

He said the practice has crippled the local textile industry which employed 25,000 people directly in the 1970s dropping to 3,000 now.

Mr Piasah urged the citizenry to patronize local fabrics in order to revive the industry because though the pirated fabrics were cheaper the locally made ones were superior in quality.