GH¢ 5 mn for restoration of cotton sector

08 Sep '10

2 min read

The Deputy Minister of Trade and Industry, Mr. Mahama Ayariga, declared, on Wednesday, that the Govt. has made GH¢5 million available to the cotton industry for its restoration. This will ensure a higher efficiency and a better growth.

According to him, GH¢ 3million facility was extended to the cotton growers and another GH¢2million was given as financial assistance on fertilizers and chemicals to restore the cotton industry which was flourishing well earlier, by the ministry through the Export Development and Investment Fund (EDIF). This was revealed by the minister, on Wednesday, in Tamale at a multi-stakeholders conference on the cotton industry which intended to discuss and bring out a planned agenda to restore the sick industry.

The conference was held to develop a long term strategy for the cotton industry in Ghana and was attended by people from diverse professional backgrounds, which are directly or indirectly related to the cotton industry. The four-day conference intended to develop a wide-ranging strategy for restoring the cotton industry, reviving its ability to remove poverty and its capability to generate employment opportunities as well as stimulating the sick textile industry.

The minister said that the ministry is dedicated to the work of building a strong, technically oriented and aggressively trading industrial sector which would enhance the process of economic growth and job creation. He further added that the ministry is following two major strategies to attain the objective.

These strategies, involving export-driven and local market-driven industrialization, are well aligned with the new and comprehensive industrial policy.

According to the Northern Regional Minister, Mr. Moses Bukari Mabenga, numerous special measures were initiated in the past decade to develop the agricultural sector but these initiatives were not implemented in the northern part of the country.

According to him, the rejuvenation of the cotton sector would not only supply raw materials for the textile industry but would also support the Govt. policy of providing free school uniforms to the students.

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