The Importers and Exporters Association of Ghana has blamed the low volumes of imports into the country on fiscal policies implemented by the government.
Speaking to the Executive Secretary of the group Sampson Asaki Awingobit on Plan B FM morning show NKOSUONSEM, he told Nana Yaw Abrompah that, the government’s retrogressive fiscal and unfriendly port policies are the contributory factors to high prices of goods in the country.
“A drop in imports in the country is not because of the GPHA, it is a result of the government’s fiscal policies including the total reversal of the benchmark values that have quadrupled the funds needed to import into the country. The benchmark values hurt the duty and also the depreciation of the cedi against the dollar. Again, the increase in Value Added Tax in the 2023 budget has also increased the cost of doing business”, he said.
He continued that importers and exporters need to also increase the prices of their goods to meet the expenses, duty charges, and taxes imposed on imports and exports to enable them to stay in business.
“if the government did not quash some of the taxes on import and exports many businesses will collapse and prices of goods will keep soaring” he added.