The Ghana Union of Traders Association, GUTA, has called on government to review the country’s import duty.
According to the association, a reduction on import duty will help more local businesses to flourish. GUTA also said the high cost of import duty currently is forcing most local businesses to fold up.
National Organizer for GUTA, Clement Boateng in a radio interview said: “Businessmen in the country have been complaining about high import duties but currently that is one of the ways 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,” he added.
GUTA further warns government that cost of goods on the market will increase further if nothing is done about the situation.
The concern follows a comment from President Akufo-Addo during the media encounter last year about talks to scrap import duties or slash it significantly to boost port operations.
But CEO of the Institute of Certified Economist Ghana, Gideon Amissah says GUTA’s demands are likely not to be met because of current ambitious projects of government.