We are waiting for a budget that will bring practical intervention and save us- Richard Adjorlolo
The 2021 Ghana budget will be read today, 12 March, 2021 and Ghanaians are having high expectations on what the budget will contain and how it will benefit them and their communities.
The budget will be read today by the Minority leader, Osei Kyei Mensah Bonsu, in parliament.
Speaking on Skyy Power FM’s Jolly Breakfast Show today, Mr. Richard Adjorlolo, a business consultant, categorically analysed the 2021 budget what is to be expected after the Covid-19 pandemic has wrecked havoc on the nation’s economy.
The covid-19 pandemic has folded up many businesses and made life unbearable for some Ghanaians, after most have lost their jobs and things keep going south. Mr. Adjorlolo made it known that, There should be solutions by the leaders to help businesses that have folded up to bounce back, especially small scale business such as the market women and people doing small trade. Since there are no measures put in place to help such people.
He said, ” I don’t see how market women worth up to only GHS 5000 going to the Commercial Bank to seek for loans will be granted. Access to funding is a big issue for such people. The micro finance won’t be of much help also. The Bank of Ghana’s directive says, one must provide a collateral before a loan is granted to them which most people don’t have. We need measures to be put in place in the budget to help these people since they have no where to go”.
The managers of the economy must come up with a workable institution to facilitate this measure. The government must take bold decisions to help people who find themselves in these situation. cost of loans should be low. We expect the government to put in
place measures and policies that will make the bank comfortable enough to give out loans to people who need them and to one of the most deprived industries such as the small scale industry.
Also, on the Jolly Breakfast Show, It was discussed that, the government must not introduce new taxes but maintain the old taxes with incentives that will cushion business owners and anyone who want to venture into a business in Ghana.
Mr. Richard Adjorlolo said, ” New taxes should not be introduced, and we want to see the government reduce the interest rate on loans to a certain percentage to help people start up and maintain their businesses”.
Since most businesses are collapsing and things are going bad in the pandemic, we are waiting for a budget that will bring up practical interventions. And these interventions will also benefit the grass roots and hope things said in the budget will be implemented for good.