Governments absorbtion of electricity bills has saved most industries- McDan
CEO of the McDan Group, Daniel McKorley has hailed the government’s decision to absorb electricity bills claiming it has saved most industries from possible collapse. According to him, such policy interventions were timely to cushion the possible effects of the coronavirus pandemic that has crippled global economies
As part of palliatives to cushion the impact of lockdown to contain the spread of the coronavirus pandemic, the Ghanaian government announced it was absorbing the electricity bills of its poor people and covering half of the energy bill of wealthier citizens. Other categories of consumers including residential and commercial users were also to enjoy a 50 percent discount within the same period.
Speaking in an exclusive interview with Paakwesiasare.biz, Mr. McCauley said the gesture helped free many small businesses of monies they would have used in paying bills to invest in other areas of business
“The Covid period has been a struggling period for many businesses and this has required bold leadership which I think our President has demonstrated over the period. Many small businesses and industries especially were being affected badly by the situation and I think the measures taken by the government were timely and impactful” stated Mr. McCauley.
He said things could have been worst but for the government’s intervention. “When you observe elsewhere in other advanced economies like the USA, many industries were shut down and workers laid off but that kind of impact has not been felt here partly because of government’s stimulus policies that have helped to mitigate such effects”
Ghana’s President Nana Akufo-Addo said in April that the government will fully cover the bills of low-income consumers of electricity in the country for April, May, and June 2020.
“We have decided further measures of mitigation for Ghanaians for the next three months… Government will fully absorb electricity bills for the poorest of the poor, i.e: lifeline consumers.