PSI On Cotton Production Soon

President John Agyekum Kufuor would soon launch the President?s Special Initiative (PSI) on cotton Production.

President Kufuor, who announced this in Accra last week, said it would boost the PSI on Garments and Textiles with cotton produced in the country while offering more employment to people in cotton producing areas.

Other PSIs are on Cassava Industrial Starch and Oil Palm, which would be launched next month. He announced this when the visiting Director-general of the United Nations Industrial Development Organisation (UNIDO), Mr. Carlos Magarinos paid a courtesy call on him at the Castle, Osu.

Mr. Magarinos was on a two-day visit to Ghana. President Kufuor said government was prepared to undertake joint partnership ventures with institutions to develop the PSIs initiated to move the private sector forward and help diversify the economy. He commended Mr. Magarinos for the visit saying the organization had the capacity to assist the private sector in its development efforts.

Mr. Magarinos expressed his appreciation at Ghana?s efforts at sustaining the democratic system as well as her economic drive, especially the poverty reduction programme.

He said last year UNIDO provided $4 million for its activities in the country with grants from Japan, Denmark and United Kingdom and expressed the hope that the assistance would be increased this year.

The Director-General said UNIDO had confidence and trust in ministries and institutions that had the capacity to utilize their resources efficiently and effectively for the development of the people.

Mr. Magarinos invited president Kufuor to attend the General Conference of UNIDO at its headquarters in Vienna in December.