Reduce benchmark values further – Sowers Herbal Centre CEO

Rev. Moses Fokuo

The Chief Executive Officer (CEO) of Sowers Group of Companies (SGC) Rev. Moses Fokuo reckons government needs to reduce further, import duties despite the 50 percent general goods and 30 percent reduction in benchmark values announced by the government.

The Sowers Group head believes although the reduction is timely, the threshold could be further reduced to enable businesses flourish once again.

Rev. Fokuo submitted the reduced levies on import duties still makes it difficult to receive marginal profits for the sustainability of many industries in Ghana.

Fokuo who manages Sowers Herbal Centre mentioned a lot of the raw materials for making the medicine are imported hence reducing import duties drastically will help his industry.

He was of the view that a high import regime means consumers have to pay more for drugs, a situation many find challenging calling on government to work on the economic indicators for the cedi’s rebounding against international currencies like the US dollar, British Pounds and the Euro.

Rev. Moses Fokuo reckons government must assist private companies by giving financial assistance in order to boost production curbing high rate of unemployment.

“When companies increase production, Ghanaian youth would be employed minimizing unemployment in Ghana,” Rev. Moses Fokuo told Goldstreet Business Newspaper.

By Joe Marfo