Six business associations have banded together to raise their concerns over the proposed import restrictions bill, urging Parliament to reject it. The associations forming the Joint Business Consultative Forum include:
- Ghana Union of Traders Associations (GUTA)
- Food and Beverages Association of Ghana (FABAG)
- Importers and Exporters Association of Ghana
- Ghana Institute of Freight Forwarders (GIFF)
- Chamber of Automobile Dealership Ghana (CADEG)
- Ghana National Chamber of Commerce and Industry (GNCCI)
Related To This: Government To Impose Import Restrictions on Rice, "Yemuadie" And Other Goods
These organizations have presented a firm argument against the bill, contending that its enactment would adversely affect their operations. In their petition dated Sunday, November 26, they highlighted several concerns, including potential price increases, disruptions in the flow of goods, and the overall adverse impact on businesses.
According to their statement, the proposed legislation could lead to significant price hikes, competition constraints, and the establishment of monopolistic or oligopolistic market conditions, where only a select few businesses would benefit at the expense of smaller enterprises.
In their own words:
- “We vehemently oppose this LI and would appreciate its immediate rejection by Parliament to allow for proper consultations and dialogue to take place.”
- “We strongly oppose this LI on the following grounds: The price of most products mentioned in the Ministry of Trade and Industry policy proposal will result in serious price hikes, as competition will be severely restricted.”
It's important to note that the Legislative Instrument (LI) aiming to restrict the importation of specific strategic products, such as rice, poultry, and sugar, has faced resistance from the Minority for the second time during its attempted presentation before the House by the Minister.
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