The New Patriotic Party Member of Parliament for Assin North, Hon. Kennedy Agyapong has urged Ghanaians to stop criticizing the Jerry Rawlings? Administration for granting loan to local businessmen who have in turn refused to pay back.
Speaking on Peace fm on Tuesday, the Member of Parliament stated that, Ex-President Jerry John Rawlings had good intentions to spread the facility under the Japanese Grant Scheme to local businessmen with the aim of promoting local investment.
However, Hon Agyapong said it was misapplication of the fund by some local entrepreneurs, who instead of investing the fund, used to acquire cars and property. He said the intention then was to promote local entrepreneurs and strengthen local investments instead of solely relying on foreign investors to come and invest in the economy.
He noted that the bad precedence set by some of the local entrepreneurs, that has compelled the NPP administration to stop granting the facility to local entrepreneurs.
According o Hon Agyapong, the over reliance on foreign firms to invest in the country, gives them the leeway to produce goods of poor quality at very high costs.
He therefore appealed to his government to have confidence in local entrepreneurs who have shown seriousness in doing business with little assistance.
Source: GhanaWeb
