THE TWO-WEEK ultimatum given the Government of Ghana to change its intention to sell Bank of Ghana's (BoG) 48 percent shares in Agricultural Development Bank (ADB) or members would embark on a demonstration has been described as non-starter by the Minister of Finance and Economic Planning, Hon. Kwadwo Baa Wiredu.
The Minister said demonstration by the workers would rather lead to loss of productive hours, which are needed for the development of the country.
The Minister was speaking to the Business Chronicle in Accra yesterday on the threat.
He supported Hon. Joseph Henry Mensah's assertion that ADB should be sold if it will bring immense benefits to the ordinary farmer and the agriculture sector as a whole whose concerns were taken into account when establishing the bank.
The Finance minister explained further to this paper that it was a policy statement and a 2007 budgetary item that Government will dispose off its stakes in most State Owned Companies (SOEs) in Ghana.He was not happy with the threat and recollected the pessimistic role that the TUC played during the collapse of the Bank for Housing and Construction and Cooperative Bank. He called on the TUC to dialogue instead of demonstrating.
The ultimatum was given by a consensus of members of the Tema District Council of GTUC during an emergency meeting on Tuesday.
The meeting was to discuss government's intention to sell BOG's shares in ADB to Standard Bank of Africa (STANBIC).
The government had told Stanbic Bank, which made an unsolicited for ADB to start negotiations with the Bank of Ghana for its 48% stake in ADB. Government will still hold on to 52% stake in ADB.
allAfrica.com: Ghana: TUC's Demo Threat Over ADB, a Nonstarter - Finance Minister (Page 1 of 1)
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