Vice President Dr. Mahamudu Bawumia is envisioning a private sector-powered economy for efficient growth, should he become President of the Republic.
This, he says, would mean the government of the day would require fewer ministers, making him promise to work with not more than 50.
The Vice President’s promise, even though built on a premise of an efficient economy from a private sector dominated economy, is believed to be stemming from the size of government of the recent regime which many have criticised for causing a toll on the public purse.
The comment is also a move to better the promise made by the NDC’s flag bearer, John Dramani Mahama, who has promised to work with 60 ministers should he be elected as President again.
At the UPSA auditorium Wednesday, February 07, 2024, whilst outlining his vision to Ghanaians as a possible President after the December 07 polls, Dr. Bawumia indicated that his efficient economy would be built on empowering the private sector to take centre stage in several developmental initiatives.
“The demand for roads construction is massive and this has historically placed a huge burden on the budget. I believe that the private sector should finance the construction and maintenance of roads through PPP concession arrangements .
“Also, government will move towards leasing rather than purchasing vehicles, printing equipment, etc. The private sector will have the responsibility for maintaining the equipment.
“With this approach, the budget can save very significant outright cash expenditure annually from various items across different Ministries, Departments and Agencies.
“This policy will energize the private sector and create many jobs.
“Enhancing the role of the private sector along with fiscal and administrative decentralization, improving our systems and the way our institutions function will lead to greater efficiency; cutting waste and ensuring value for money in procurement.
“The move towards the private sector provision of many public services would create fiscal space of at least 3% of GDP. This represents a major paradigm shift.
“Additionally, an efficient system of governance will require even fewer ministers. Therefore I would have no more than 50 ministers and deputy ministers,” he assured.
Protecting the public purse; Mahama reiterates promise to govern with 60 ministers
