The Association of Ghana Industries (AGI) is urging government to redeem its pledge of releasing US$1 billion made to the industry.
Government through the Finance Minister, Ken Ofori-Atta had pledged in the 2019 budget that funds will come through to boost industrial development.
Ken Ofori-Atta, during his presentation of the 2019 budget in Parliament stated government will mobilise an estimated US$1 billion from various funding sources for small, medium and large scale enterprises to accelerate the industrial transformation agenda, including the 1D1F programme in 2019.
The captains of industry want issues such as when the fund will be made available, its administration among other concerns addressed so plans can be set in motion to meet targeted goals.
Meanwhile government has started giving out incentives to stimulate production such as offering a 3-year tax holiday for local textile companies who are exempt from paying VAT during the period while local carmaker, Kantanka Motors also enjoys a 10-year tax exemption, including import of material for manufacturing and assembly purposes.
By Michael Eli Dokosi