The Ghana Union of Traders Association (GUTA), has commended the government for the suspension of the implementation of the benchmarks policy reversal directive to allow for broader stakeholder consultations.
According to President of GUTA, Dr. Joseph Obeng, most of its members heavily depend on the policy to survive, and the new position of the government to suspend it temporary for consultations will go along way to protect their jobs and income.
“We are grateful to the government for listening to our plea and concerns; most of our members livelihood depends on the maintenance of this benchmark policy rather than the reversal, so its refreshing to hear hear this directive from the President” he told Ohene Addo on Plan B FM ‘Nkosuo Nsem’
Dr. Obeng further expressed optimism about the wider consultations expected to take place on the reversal of benchmark values on various products at the ports.
President Akufo-Addo on Saturday directed the Ghana Revenue Authority to stay the rollout of the benchmark value reversal policy to allow for broader stakeholder engagement.
The President gave a deadline of January 17 for all consultations to conclude.
As part of the government’s efforts towards promoting local production, the discounts on benchmark values for some elected items were announced in the 2022 budget were to be scrapped.
But the implementation of the policy has been fraught with many challenges leading to calls by stakeholders including GUTA and the Ghana Importers and Exporters Association for its suspension.
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