The National Democratic Congress (NDC) flagbearer, John Mahama, has pledged lower electricity tariff costs and tax breaks to companies that choose to run 24-hour operations.
Delivering his New Year message to Ghanaians on Wednesday, he reiterated the policy will help revive the ailing economy, maximise productivity as well as build a dynamic and vibrant economy.
He has therefore asked businesses to sign up for the policy when implemented during his tenure as president in 2025.
“The 24-hour economy will succeed because we shall provide improved security and public safety which will require massive recruitment into the security services and private security operations.
“My government will provide cheaper and more reliable electricity for those participating businesses based on a time of-used tariffs system.
“Companies that sign up for the 24-hour economy will benefit from modern smart meters calibrated to charge a lesser tariff per kilowatt hour for power that is consumed during off-peak hours.
“Businesses that subscribe to the 24-hour economy will receive further tax incentives to reduce the cost of the operations and enhance their competitiveness,” he said.
He stressed that the policy is a game-changer, adding that evidence suggests that these were the practices of great nations, including the United Kingdom, the United States, and South Korea.
“Introducing the Mahama -24-hour economy is the right thing to do for Ghana especially considering the State of our country today.
“It will boost our manufacturing industry and transform our country into an export lead economy providing the world with goods made in Ghana,” he added.
Mr Mahama expressed confidence that the policy will succeed as his government will put in place measures to ensure it does.