During a town hall meeting with the pharmaceutical industry, Vice President Mahamudu Bawumia expressed concern over the high port duties in Ghana, leading to the diversion of containers to Lome, Togo.
He assured the industry of implementing fixed exchange rates to ease forex pressure faced by traders and promised to make sure that duties in ports are not higher than in Lome to prevent further diversion.
If elected in the December election, Bawumia pledged to change the duty structure to a flat specific duty, ensuring clarity for traders on the amount they are paying in cedis for containers. This move aims to remove exchange rates as a factor in determining duties, making the process more transparent and predictable for businesses.
The President of the Pharmaceutical Society of Ghana, Dr. Kow Donkor, highlighted the importance of addressing concerns in the industry to protect national security. He emphasized the need for special rates for pharmaceutical importers and manufacturers to stabilize prices and ensure a steady supply of medicines.
However, Dr. Bawumia’s commitment to addressing high port duties and enhancing the business-friendliness of ports demonstrates the government’s efforts to support industries and improve the country’s economic competitiveness.
Source: Apexnewsgh.com/Ghana
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