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| (John Dramani Mahama) |
Vice President Dr. Mahamudu Bawumia recently expressed his reservations regarding the 24-hour economy policy advocated by National Democratic Congress (NDC) flagbearer, John Dramani Mahama. Dr. Bawumia, who is also the NPP Presidential candidate, made these remarks during his tour of the Northern Region. He criticized the proposed policy, asserting that it "is not a bright idea" and questioned its feasibility, stating, "A 24-hour economy cannot be legislated by the government."
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In response to these criticisms, former President and NDC Presidential candidate John Dramani Mahama addressed the issue during a Q&A session. He clarified that the 24-hour economy policy, as a development strategy, does not necessarily need to be legislated. Instead, it will be supported by a comprehensive strategy document, incorporating a policy framework. This framework will be released following the launch of the NDC’s 2024 manifesto and will be closely aligned with the party’s manifesto and the Coordinated Programme for Social and Economic Development Policies.
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Moreover, Mahama explained that the policy framework will pave the way for the enactment of various supporting legislation, such as a new Employment Act (the first of its kind) and laws aimed at reinforcing Ghana’s import substitution and export drive, as well as enhancing employee rights and consumer welfare. He emphasized that economic policies, with the exception of certain regulations and essential services economy-related measures, are generally not legislatively mandated. Instead, the government's role is to create an enabling environment, allowing businesses and individuals to leverage these policies for productivity, competitiveness, and profitability.
Mahama illustrated this with an example, comparing the introduction of digitalization, which is not mandated by legislation, to the potential implementation of a 24-hour economy. He highlighted that businesses requiring digital platforms for productivity and profitability naturally take advantage of such platforms once introduced by the government. Similarly, under the 24-hour economy policy, businesses targeted by the initiative are expected to willingly participate in order to benefit from the attractive incentives, thus reducing costs and enhancing their competitiveness.
In closing, Mahama underscored that the successful adoption of a 24-hour economy policy follows a similar pattern in advanced countries with such economic systems.
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