24-hour economy: Businesses to get smart meters for less tariff charges - Mahama

Businesses that sign up for the 24-hour economy will benefit from modern smart meters calibrated to charge lesser tariffs per kilowatt hour for power during off-peak hours, Flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has disclosed.

In a New Year message to Ghanaians and monitored by GhanaWeb Business, John Dramani Mahama stressed that his government will be poised at providing cheaper and more reliable electricity for businesses that would participate in the 24-hour economy.

The deployment of these smart meters, he said, aims at reducing the high cost of operations, as well as, enhancing the competitiveness of Ghanaian businesses.

"My government will provide cheaper and more reliable electricity for those participating businesses based on a time-of-used tariff 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 hour," John Dramani Mahama said.

What is the 24-hour economy?

The 24-hour economy is simply an economic strategy that involves putting measures in place to ensure that businesses across various sectors in an economy operate both at night and in the day.

In other words, there would be a night economy and a day economy.

The 24-hour economy will also be in a three-shift system of 8 hours each, by creating an enabling environment that promotes productivity, competitiveness and well-paying jobs.

The strategy is aimed at ensuring that the economy is as vibrant during the day as it is at night so as to create more employment opportunities.

So essentially, businesses are to put measures in place to ensure that they are in operation every hour of the day.

These measures include employing more staff and running a shift system.

Since John Mahama mentioned introducing it, he has faced vehement criticism and commendation from some sections of the public.

SA/AE