The Importers and Exporters Association of Ghana said it has noticed with disdain, attempts by government to scrap off 50% in benchmark values on some selected products.
The move which the group said will not only propel a hike in goods and services but would also hamper the business of importers.
In a statement released on August 2, 2021, the Importers and Exporters Association expressed shock as to why Government will think that, the 50% scrap in benchmark values would address issues of smuggling of goods and also increase its revenue mobilization, when the real threat to the country’s inability to address such challenges lies in the areas of warehousing, Goods in Transit and Tax exemption policies which are being abused.
The group said it is also worrying to note that the 50% benchmark value reduction on essential commodities such as frozen chicken, edible oil, rice, among others, “which we lack local capacity to produce as a country, will result in an artificial shortage of such commodities”.
“Why would government in the face of a covid-19 pandemic which has already affected the business Community, go ahead to scrap off 50% on benchmark values which were introduced years ago to cushion importers as well as the trading Community”.
The statement signed by the group’s Executive Secretary Sampson Awingobit Asaaki believes the move by government to undertake “such action is a clear indication that, it has lost its fight on freight adjustment, hence the quick resolve to switch to benchmark values”.
It therefore called on the Government through the Trade ministry to as a matter of urgency and alacrity ensure the planned 50% reduction in benchmark values on some selected items is shelved, while they focus on how to address the growing abuse in areas such as warehousing and Tax exemptions.
