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Economist criticises NDC’s university fee funding proposal, advocates fiscal prudence, strategic investments

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Dr. Paul Appiah-Konadu, an economist and entrepreneur, has expressed surprise at the National Democratic Congress (NDC)’s proposed policy to cover tertiary tuition fees for level 100 students, stating that it seemed inconsistent with the NDC’s criticisms of the Free Senior High School (FSHS) policy.

He highlighted that while the FSHS initiative was criticised for not sufficiently addressing the needs of students from underprivileged backgrounds, the new proposal to fund university fees appears to be similarly flawed in its approach. “I think economically, that is not a rational policy for the NDC to adopt. I expected something more from the NDC.”

The economist pointed out that the job market already faces challenges with a significant number of university graduates struggling to find employment. He argued that the policy to fund university education might not be economically rational given the current employment landscape. According to Dr. Konadu, the focus should instead be on fiscal prudence and managing debt levels sustainably. “What we should be looking at right now is fiscal prudence, how to achieve a sustainable debt level,” he said.

He emphasised the need for strategic investments that would drive transformative change rather than implementing broad policies that may not address the underlying issues. Dr. Konadu also stressed that stability is a prerequisite for development, suggesting that without a stable economic foundation, other development initiatives may not be effective.

In discussing other aspects of the manifesto, Dr. Konadu acknowledged the potential benefits of the proposed 24-hour economy initiative. However, he raised concerns about whether the necessary resources are available to implement such a plan effectively.

Benjamin Atuasi, the Deputy Communications Officer for the National Democratic Congress (NDC) in the Upper East Region, has explained that the NDC’s recently launched manifesto aims to directly benefit the youth, distinguishing it from broader policies that cater to the entire Ghanaian populace. He emphasised that the manifesto seeks to energise the country’s large number of unemployed youth by providing specific initiatives tailored to their needs.

“In our context in Ghana today where we have the youth being the majority and most of them being unemployed, it is only right and proper that, on a youth day, we should get something to reward and reenergize and give hope to the teeming unemployed youth in our country. And that is the rationale behind having the youth manifesto that segregates what directly will benefit the youth as against the general one that takes care of the entire Ghanaian population.”

One of the central promises of the youth manifesto is the provision of financial support for tertiary tuition fees for level 100 students. While Mr. Atuasi clarified that this proposal is not yet fully detailed, he assured that the main manifesto, set to be released later this month, will elaborate on this commitment. He acknowledged that current student loan options do not adequately support students entering university, making this initiative a significant step forward.

Mr. Atuasi also highlighted that the youth manifesto is just a precursor to the comprehensive main manifesto. The NDC, he assured, remains open to feedback from the public and values diverse opinions, recognizing that expertise is not confined to any single individual. “Even outside the launching of the main manifesto, we’ll still listen to others’ views. Ghanaians matter. Knowledge doesn’t reside in only one person’s head,” he said.

He addressed concerns about the feasibility of the proposed initiatives, arguing that the government can afford these plans by curbing wastage and reducing corruption. Atuasi suggested that even a modest reduction in corruption could significantly enhance funding for education from the basic to the tertiary level. “If we are able to cut corruption by 5 percent in Ghana, we’ll be able to fund education from the basic level to the university level,” he stated. He also mentioned the possibility of reworking the Ghana Education Trust Fund (GETFund) to support these educational goals.

Source: A1Radioonline.com | 101.1MHz | Gifty Eyram Kudiabor | Ghana

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