Home General News Privatize VRA, ECG, others to foster industrialization- Otumfour to gov’t

Privatize VRA, ECG, others to foster industrialization- Otumfour to gov’t

He emphasized that the private sector is better equipped to manage these companies efficiently and effectively, leading to job creation and overall economic growth.

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The Asantehene Otumfour Osei Tutu II has urged the government to consider privatizing certain public institutions, such as VRA and ECG, to stimulate industrial growth and attract investment in Ghana.

He emphasized that the private sector is better equipped to manage these companies efficiently and effectively, leading to job creation and overall economic growth.

“Government should be involved in policies only instead of industry, it’s about time Ghana realised that it’s not going to work for the government to be involved in setting up companies, it doesn’t work that way,” he stated.

During the commissioning of the Genser Energy Gas Pipeline at Anwomaso, Otumfour highlighted the challenges faced by the government in operating these organizations due to limited capital, which has contributed to the decision to seek assistance from the IMF.

He suggested that commercializing capital-intensive public organizations could help address these financial constraints.

Nana Osar Nyampong VI, the Board Chairman of Genser Energy, emphasized the positive impact of the newly established gas pipeline on energy efficiency in the Ashanti Region and beyond.

He also expressed concern about the activities of illegal miners near their installation, warning that tampering with the underground pipeline could lead to a potential explosion.

He called on local authorities and chiefs to advise the youth to stay away from the installation to prevent any potential disasters.

The Genser pipeline network spans about 430 km and consists of 23 gas stations.

The network is divided into three phases: phase one (BP01), phase two (PP01), and phase three (PP02).

The main supply of natural gas starts from the Ghana National Gas Company (Ghana Gas) at Prestea Regulating and Metering Station (PRMS).

The first phase spans from Prestea to Tarkwa to Damango and ends at the Golden Star Resource, Wassa Mine.

The second phase stretches from Prestea to Gyegyetreso to Manukrom. There is a Branch Point Station (BPS) between Prestea and Gyegyetreso at Humjibre.

 

Credit: Fatawu Bayaga, Ashanti Regional Content Manager.

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