Josiah
A collective of six business associations, operating under the Joint Business Consultative Forum, has formally presented a petition to Parliament in strong opposition to the proposed import restrictions bill. The consortium, comprising the 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), and Ghana National Chamber of Commerce and Industry (GNCCI), expressed concerns regarding the potential adverse effects of the bill on various sectors.
The bill, seeking to impose import restrictions on 22 specific products within the country, triggered a heated debate last Friday in Parliament, particularly with the Minority expressing opposition. The Minority’s argument centered on the perceived partisan benefits favoring a specific faction within the New Patriotic Party.
In their petition dated November 26, the business associations articulated their apprehensions, contending that the passage of the legislative instrument (L.I.) could lead to increased prices of goods, disrupt the smooth flow of goods, and potentially cripple businesses. The groups are urging Parliament to reject the bill, emphasizing the need for thorough consultations and dialogue before any legislative action is taken.
The joint statement from the associations vehemently opposes the L.I. on various grounds, asserting that the proposed pricing strategy outlined in the Ministry of Trade and Industry’s policy proposal could result in significant price hikes and severely limit competition. Furthermore, the associations expressed concerns about the discretionary power vested in the Minister of Trade and Industry to decide which companies can engage in the trade of the specified items. They argue that this could lead to a monopolistic or oligopolistic market scenario, disadvantaging smaller businesses in the country.
The groups also raised apprehensions about the potential hindrance to the flow of goods from exporting countries to Ghana due to the permit system proposed in the bill. They argued that this system would disrupt market-driven demand considerations for importers, leading to delays and potential bureaucratic challenges in the decision-making process.
Among the products facing potential restrictions if the bill is passed are ‘Yemuadie’ (tripe), rice, diapers, and several others. The associations are urging Parliament to reject the bill.
Source:Omanghana.com
