High import duty killing local businesses – Ghana Union of Traders Association
- The Ghana Union of Traders Association wants the government to reduce import duty.
- According to them if the government fails to do so, it will lead to the continuous increment in prices of imported goods.
- But an analyst believes the reduction may not happen due to the government's ambitions.
The Ghana Union of Traders Association (GUTA) has called on the government to review the country’s import duty since their woes have increased due to the high cost of import duty.
The National Organizer of GUTA, Clement Boateng told Accra-based Starr FM that the cost of imported goods on the market will continue to increase if the government does nothing about the high import duties.
“Businessmen in the country have been complaining about high import duties but currently that is one of the ways the government can also make revenue…but we are very prepared to engage government.
“We think that import duties are killing the business community in Ghana.”
His comments come after Ghana’s President, Nana Akufo-Addo said during his last media encounter in 2018 that the government is considering scrapping import duties or slash it significantly to boost port operations.
However, the Chief Executive Officer (CEO) of the Institute of Certified Economist Ghana, Gideon Amissah said GUTA’s demands may not be met due to the current ambitious projects of the current government.