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Company News of Wednesday, April 10, 2019
Source: mynewsgh.com
2019-04-10
Political man cum, Akwasi Addai Odike
Akwasi Addai Odike, a businessman and politician, said he is dissatisfied with the 50% and 30% reduction in the reference values of general imports and imports of vehicles, as his intervention would not Ghana as a dumping ground for finished products. .
It would have been better to limit import tariff reductions to raw materials for manufacturing industries, which would then have been converted into exports in order to attract the foreign exchange needed to stabilize Ghana's cedi.
Speaking with Kwame Tanko on Angel FM Tuesday Monitored by MyNewsGh.com, the founder and leader of the United Progressive Party (UPP) said the government's intervention would be short-lived as importers would need more money. money to import their goods, which would cause the cedi to depreciate again in no time.
He said the only way to strengthen the economy was that the government focuses on the manufacturing industry by giving priority to the import of raw materials and making them duty-free where possible , to encourage manufacturers to produce more for their exports.
"If the government had reduced duties on the importation of raw materials for the manufacture of shoes, such as leather, glue and other accessories, Ghana would have earned so much money by exporting shoes to neighboring Burkina Faso and Togo ".
According to him, the way to increase import volumes in ports was not to reduce import duties on finished products, but to prioritize the import of raw materials. first to strengthen the manufacturing industry.
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