Reversal of benchmark forcing local firms to import rather than produce - Kwame Wiafe
GUTA must come to terms with benchmark discount reversal of national interest - Ayim-Darke
President of the Association of Ghana Industries (AGI), Humphrey Ayim-Darke, has said the discount on the value of imported items covered by the benchmark value policies will lead to a collapse of local industries.
The collapse of domestic industries, he said, will further worsen the unemployment challenges faced by the country, GNA reports.
According to the government not reversing the discount on the benchmark items will lead to an influx of cheap foreign goods in the Ghanaian market which makes it difficult for local manufactures to compete.
The president of AGI who made these remarks at a press briefing added the inability of manufactures to compete was making it difficult for them to retain their employees and was collapsing local industries.
“Manufacturers are finding it difficult to retain their employees, with such influx of imports at cheap prices displacing their products on the market,” Dr Ayim-Darke was quoted by GNA.
He, therefore, urged associations such as the Ghana Union of Traders Association and the Trades Union Congress to come to terms with the reversal of the discount for the interest of the nation.
“We welcome stakeholder dialogue on the benchmark discount within the context of what is best for our country,” he said.
On his part, the Managing Director of Wilmar Africa Limited, Kwame Wiafe said the benchmark discount value is not a good policy.
According to Kwame Wiafe, the policy was forcing local firms to import rather than produce locally, which would help create decent jobs for Ghana’s youth.
“We are now being compelled to import to sell instead of producing locally to create jobs. This benchmark discount value is not a good policy, and we cannot build the country with this,” Kwame Wiafe was quoted by GNA.
Citing an example he said, because there was no protection for palm oil and rice producers in the country, it is cheaper to import palm oil and rice to Ghana than to produce them here – even though local firms could produce half of Ghana’s demand. Read Full Story
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