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IEAG calls for special tax incentives & utility tariffs for business community

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The Executive Secretary of the Importers and Exporters Association of Ghana, Samson Asaki Awingobit, has expressed deep disappointment at the government’s failure to provide special tax incentives and utility tariffs to the business community, leading to increased imports and a decline in local production.

In an interview with A1 Radio during his visit to the Upper East Region, Mr. Awingobit lamented that since the Rawlings administration, no government has made efforts to provide such incentives to businesses, unlike countries like China, which have implemented policies that make their products more competitive.

“Since Rawlings, none of the governments from John Agyekum Kufuor to the current government of Nana Akufo-Addo and Dr. Mahamudu Bawumia has ever thought of giving special utility tariffs to the business community here in the country that can help them increase their production to meet demand,” he said.

He pointed out that countries like China, which have implemented policies that favor their businesses, can produce goods at a cheaper rate, making them more competitive in the global market. In contrast, Ghana’s business community is struggling due to high utility tariffs and a lack of tax incentives.

“Governments must make conscious efforts to ensure that they provide special utility tariffs and tax incentives to the business community. We need to implement deliberate policies, and we will begin to lose certain taxes, then we can begin to say that the country can produce to meet the demand of consumers, which will, in return, reduce importation,” he emphasized.

He therefore called on policymakers, especially the government, to take concrete steps to address these issues and provide a more favorable business environment.

“The situation is not only affecting local businesses but also has implications for the country’s economy. Ghana’s economy is heavily dependent on imports, which account for a significant portion of the country’s trade. If local production is not increased, it could lead to further dependence on imports, which could have negative consequences for the economy. Now look at the dollar’s performance against the cedi.”

Source: A1Radioonline.Com|101.1MHz|Moses Apiah|Bolgatanga|

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