Effia MP, Hon. Isaac Boamah-Nyarko, has raised concerns over the establishment of a 24-Hour Economy Authority, questioning the need for a new entity to oversee the policy.
Speaking in Parliament, Boamah-Nyarko noted that existing ministries, including Trade and Industry, Labour, and Youth Employment, already handle the areas the authority would cover, potentially duplicating functions.
He cited the example of TVET and STEM institutions, which already have programs in place for skills development, and questioned why a new authority is needed to oversee these efforts.
The MP also expressed concerns over the authority’s proposed mandate to mobilize capital through the banking sector, saying this falls under the purview of the Ministry of Finance.
Boamah-Nyarko urged Parliament to carefully consider the bill, citing the potential for unnecessary expenditure and duplication of efforts.
