The youth wing of the New Patriotic Party (NPP) in the Eastern region has served notice that it will resist any attempt by the National Democratic Congress (NDC) government to sell or privatize Ghana Commercial Bank (GBC).
At a press conference in Koforidua on Monday addressed by NPP Regional Youth Organizer, Frank Annoh-Dompreh, the youth wing said the NDC which describes itself as a social democratic party should never think of bringing untold hardship to the majority of GCB employees by disposing of such an important state asset seen as a pride of the nation. �The President and some leading members of the NDC in 2008 vehemently campaigned against the then NPP government for deciding to sell GCB and now as social democrats they have turned round to spearhead the sale of the bank which is now making huge profits and serving the nation well,� Annoh-Dompreh said stressing the regional youth wing will not allow this to happen.
Armed with official correspondences from management and workers of the bank, Annoh-Dompreh who was flanked by various constituency youth organizers in the region said the management and staff of the GCB have all kicked against the possible sale saying it will not result in massive lay-offs but also bring serious hardships to the majority of Ghanaians.
The youth wing said the reason given for the sale that the lay-offs would shore up viability and profitability of the bank cannot be accepted since the bank is already making huge profits.
�We have correspondence which says the current Managing Director is receiving a monthly salary of GH�24,000 as against the GH�6,000 that was being paid the previous MD under the NPP government,� he said alleging further that �members of the board of directors are paid GH�1,000 per sitting and last year alone, the board sat 73 times.�
According to the youth wing, it is also absurd to give KPMG International which is auditing the accounts of GCB, a contract to manage the salary department of the bank.
�We know the MD was a staff at KPMG which clearly shows a conflict of interest and a subtle attempt to collapse the salary department of the bank,� the regional youth organizer alleged.
�As we are speaking now frantic efforts are being made to liquidate a plethora of GCB assets which include the branches at Koforidua, Akosombo, Bolgatanga as well as the training school of the bank in Accra,� he indicated.
Annoh-Dompreh said that when the NDC government came into office, one of the reasons given for the non-performance of the bank was the TOR debt but government has paid off that debt so why should it go ahead to sell the bank?
�We even know most of the NDC activists are against the move by their government to lay off workers and divest the bank because many NDC communication officers on countless occasions have commented about it on radio asking their own government to reverse that decision and also investigate the huge salaries and allowances that top management of the bank have arrogated to themselves.�
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