50 percent benchmark import value reduction go cripple local manufacturing business - Local Manufacturers
Local manufacturers for Ghana dey oppose de benchmark imports which government reduce by 50 percent for general goods sake of dem say dis go cripple local manufacturers.
Yesterday, Vice President Mahamudu Bawumia make de announcement during dema Economic Management Team town hall meeting where he explain say dis move go help make dem increase revenue for de ports. According to Dr Bawumia, "to reduce smuggling den enhance revenue for de ports, de benchmark review of imports go reduce by 50% and 30% for vehicles effective Thursday 4th April , 2019." Despite say more people make excited sake of de downward review which go affect importation of general goods wey dey come inside de country, some people no like de development. Former Chief Executive Officer (CEO) for Ghana Exports Promotion Authority, Madam Gifty Kekeli Klenam reveal say dis go affect local companies who dey do manufacturing. Local businesses say cheap products from China go flood de markets top sake of de reduction which go de few local people who dey manufacture. "We dey manufacture for dis country. We dey create jobs so if tax reduction go happen, e for go wanna favour. Instead of sey e go go to people wey dey create jobs outside de country" Gifty Kekeli Klenam add. De reduction on benchmark value of imports dey take effect for ports starting today, April 4, 2019. Despite de excitement, Association of Ghana Industries (AGI) say de benchmark value reduction no dey mean sey import duty go reduce.