EDUCATE PUBLIC ON PAYMENT SYSTEMS (Page 28)

Story: Kwame Asiedu Marfo, Takoradi

THE President of the  Consumer Association of Ghana, Dr Ferdinand D. Tay,  has stressed the urgent need for extensive public education on the existing government payment system, procedures and requirements, since they are very cumbersome.
He said the Private Enterprises Foundation (PEF) and other private sector organisations should engage government, the Public Utility Regulatory Commission(PURC) and the utility companies to streamline the payment process and find solutions for losses incurred by businesses as a result of poor utility service delivery.
Also, he emphasised that they should establish a transparent payment system with clearly defined steps and time frame which were binding.
Dr Tay was delivering a paper on ‘’Institutionalization of Compensation in Business Dealings in Ghana” for stakeholders of PEF at a meeting in Takoradi.
The programme which was organised by PEF with support of the Business Sector Advocacy Challenge (BUSAC) was on the theme ‘’Advocating appropriate compensation scheme in business”.
He said PEF, the Ministry of Finance and Economic Planning and the Controller and Accountant-General’s Department should lead the public education campaign.  
 He noted that  production disruptions due to utility services and undue delays in government payment by government had considerable impact on cost, growth and competitiveness of Ghanaian industries.