This will affect businesses negatively
AGI does not have the capacity to produce enough for Ghana
Executive Secretary of the Importers and Exporters Association, Samson Asaki Awingobit, has said taking Ghana’s current cost of living, it is not the right time to increase prices of consumer goods, by the reversal of the benchmark value policy.
The GRA has announced that effective Tuesday January 4, 2022, the Customs Division of the Ghana Revenue Authority (GRA) will begin the implementation of government’s policy directive on the reversal of the reduction of values of imports on 43 selected items.
“The truth of the matter is that we think that its not the right time looking at the economic situation of the ordinary Ghanaian and their financial status, vis-à-vis, they say that government is the largest employer or the private sector.
"Between 2019 and now, how many Ghanaians have gotten jobs and are being paid well. I strongly believe that it is not the right time looking at the cost of living”, he said.
Speaking in an interview on JoyNews, Mr. Awingobit said the Association of Ghana Industries does not have the capacity to meet Ghana’s production target.
“Our friends from the AGI do not have the capacity to produce, even if they have the factories there, they are not producing to optimum levels and they know that it is not the benchmark values that is not making them produce up to the optimum but rather as a result of the cost of borrowing in this country”.
He further stated that the under-production by the AGI will be exposed by the African Continental Free Trade Agreement.
“And very soon AGI will be exposed, they will be exposed by the AFCFTA that is coming on board very soon where we have people from South Africa Kenya and the rest where cost of borrowing is low and they are producing at optimal rates.
"They are going to bring their products to this country and sell and we will also take it there. That is when we will see the real competition” he added. Read Full Story
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