50% slash in benchmark values premature – TUC

The Trades Union Congress (TUC) has described as premature the slash in benchmark values announced by government.

Secretary General, Dr. Anthony Yaw Baah observed with various sectors of the economy ailing because of unbridled access giving local businesses stiff competition, the 50 percent slash in benchmark values of imported general goods was unfortunate.

Dr. Anthony Yaw Baah

According to Dr. Baah, it was rationale for an importer who had shipped cars to Ghana to enjoy the 30 percent slash in benchmark values on vehicles as the previous practice where an importer was slapped with duties so high that he had to leave the imported cars at the port for the state to auction cheaply to other people was unacceptable.

A while back, he said Ghanaians bought their furniture from local furniture makers “but now furniture is being imported from Turkey and China denying the wood workers an opportunity to make money.”

A trend he feared the slash will compound stressing “we must protect our poultry and rice industries. Farmers must enjoy some protection from foreign competition.”

Government, weeks ago declared a 50 percent and 30 percent respective benchmark reduction in general goods and vehicles imported into the country following agitation by importers that duties and charges at the port were crippling their businesses demanding governmental action but it does appear while players in sections of the economy welcome the intervention, others have slammed the decision including food and beverage producers and now the TUC.

By Michael Eli Dokosi/goldstreetbusiness.com