Takoradi, Oct. 29, GNA - Mr Seth Terkper, Minister of Finance has
revealed that the country is lagging behind in terms of infrastructure
that could expand the economy and speed up development.
He said "efficient infrastructure creates employment, develop
capital, promotes local and foreign exchange investment and trade, fuels
businesses and helps to raise the standard of living and access to
critical services”.
Meanwhile, it is estimated that Ghana needs to spend at least 1.5 million dollars to close the infrastructure deficit.
Mr Terkper said this at the ongoing third global conference on
Public Private Partnership (PPP) in Takoradi in the Western Region.
The conference would look at ways of harnessing opportunities,
international expertise and resources to accelerate Ghana's PPP Agenda.
The Minster said government desire to develop the various sectors
of the economy has been strengthened by immense interest and confidence
shown by the international community to help in development.
He said driving development through strong PPP would allow the
public sector to tap into the financial and human capital of the private
sector.
Mr Joe Barnor, Economist with Global Holdings, explained that the
PPP is a contractual arrangement between a public entity and private
sector party with clear agreements on shared objectives and risk sharing
for the provision of infrastructure.
He said the PPP deals always enable government to provide better
infrastructure and services through the use of private sector financial,
human and technical and thereby freeing government resources for
equally important uses.
Mrs Magdelene Apenteng, Director, Public Investment Division of the
Ministry of Finance said the Ministry is developing the legal,
institutional and regulatory framework for the PPP programme to ensure
effective management of PPP projects.
The PPP policy was launched in October 2011 to open up the
country's development in terms of infrastructure for private sector
financing and participation.
Source:allghananews.com
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