Sunday, 25 February

GUTA fights AGI over benchmark value

Joseph Obeng

The Ghana Union of Traders Association (GUTA) has accused the leadership of the Association of Ghana Industries (AGI) of blatantly lying about the 50 per cent benchmark value reduction at the ports.

According to GUTA, it is never true that the benchmark value reduction that offers discounts to importers in the country is derailing the government’s agenda for the industrialisation of the economy. 

Mr. Joseph Obeng made this allegation against AGI in an interview with Kwame Appiah Kubi on the ‘Ghana Yensom’ morning show on Accra 100.5 FM Tuesday, November 16, 2021.           

Mr Obeng, president of GUTA made this allegation against the leadership of AGI reacting to the decision by the Ghana Revenue Authority to review the fifty percent benchmark value reduction on imports at the ports.

He contested that the decision for the GRA to review the benchmark values was motivated by the leadership of AGI when they met the government on this year’s budget preparation.

He described the leadership of AGI as local champions who are doing nothing for the industrialisation drive of the country.

“Even a country like America, which is one of the leading industrialised nations in the world import so, why is the leadership of AGI worried about imports into the country when they are not able to produce to meet demands on the market,” he posited.  

He said the implementation of the 50 per cent benchmark value did not come out of the blue but through careful deliberations with the Vice President who is the head of the economic management team, the Council of State, and the president.

He explained that the implementation of the benchmark value was taken because Ghana is the only country in the sub-region that charges the highest amount of freight charges.

“It is in view of this, that the decision was taken for the implementation of benchmark value to save the business of the importer in the wake of the COVID-19 pandemic in 2020. If AGI feels they have a problem they should speak to their issues and not the benchmark values,” he said.

Source: Mensah