President John Dramani Mahama has disclosed that government has given GHC50 million in assistance to various pharmaceutical companies to boost the industry in the country.
President Mahama made this known when he met a cross-section of business tycoons in the Ashanti Region capital of Kumasi as part of his ‘Changing Lives Tour’.
He reiterated government’s intention to assist private enterprises to grow, saying it is the only way to sustain the Ghanaian economy.
“Until we diversify the legs of the economy, we will continue to be import-dependent and the forex value will be a matter that we will be checking every day.
“But if we become a country that is export-led with reduction in imports, we will not think about looking at the forex every day because the Cedi will be stable,” he said.
President Mahama, however advised the captains of businesses not to shudder in going into areas within the power sector.
“Cables must be produced here, transformers must be produced here, meters must be produced here because our Ghanaian businessmen can set up industries to produce those things…why do we have to go and bring cables from China and they come and explode every day and create problems,” he added.