The Minister of Finance, Ken Ofori-Atta, has informed the 2021 graduating class of the University of Professional Studies-Accra (UPSA) that government’s payroll is full – making it unsustainable to keep adding to employment figures in the public sector, hence the need to create their own jobs.
According to him, the government payroll is full, therefore, adding more numbers to the already populous public sector payroll will be unsustainable.
“Government’s role is to create the needed enabling environment, establish micro-stability and ensure that citizens have the right skillset and that is what government is going to do: focus on the youth and budget for their demands”, he asserted .
“The future for you in regard to jobs is the most important thing for you at this stage, and we have gone through a period when most people look for a job from government or state institutions; but that payroll is full.
“I can tell you that because we are spending about 60 percent of our revenue on renumerating some 650,000 people, and that is not sustainable,” he said.
The finance minister further indicated that entrepreneurship, skillset and credit are the important things needed in the mix to ensure sustainability for the youth and offer them an opportunity to create their own path to wealth.
He lectured that, education is a ladder to social mobility as well as economic and social prosperity, offering beneficiaries the opportunity to help society. Therefore it is important for the graduates to acknowledge the privilege of accessing four years of tertiary education and do their best to impact society through the transformation and renewal of their minds.
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“These life-skills gained underpin the abilities for adaptive and positive behaviour that aids in dealing effectively with the challenges of everyday life, particularly work. It is therefore important that graduates acquire life-skills as mentioned,” he said
“I encourage you to set up your own firms to tap into the growing outsourced financial and business services. Be entrepreneurial, for your training here has given you what it takes to do that,” he said.
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