• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV
Thursday, June 8, 2023
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

Use Mid-year budget to fully review the benchmark values policy– AGI CEO

Citi NewsroombyCiti Newsroom
July 18, 2022
Reading Time: 1 min read
ShareShareShareShare

Ahead of the presentation of the 2022 mid-year budget review, the Association of Ghana Industries (AGI) is calling for a full review of the benchmark values reduction policy.

According to the leading industry group, despite the announced reduction in the benchmark values discounts applied to general goods and vehicles, in February this year, their goods are still unable to compete with imported substitutes.

When government in 2019 announced the decision to reduce the benchmark values for some general goods by 50% and 30% on cars, the idea was to increase volumes of traffic at the port and ultimately increase government revenue.

While importers and exporters, freight forwarders as well as the Ghana Union of Traders’ Association praised government for how the decision reduced the cost of doing business, groups such as the Association of Ghana industries were concerned about the impact on the competitiveness of their products.

In a bid to appease both industry and importers, government revised the discount values downwards to 30 percent discount for all goods and 10 percent for vehicles.

But according to the CEO of the Association of Ghana Industries (AGI), Seth Twum-Akwaboah more can be done.

“We’ve already made several inputs into the upcoming review. Key amongst our inputs relate to the benchmark values. We want it reviewed fully. Some attention must be given to local manufacturers, in terms of raw material exemptions. We also need a stable macroeconomic environment. We also think the tax regime needs to be supportive of industrial development. There are also specific interventions we want to be given to specific companies and industries.”

 

ShareTweetSendSend
Previous Post

Huawei acknowledged for contribution towards inclusive education

Next Post

Oil futures have slid below $100 as investors brace for recession

Related Posts

Opinion

Addressing misconceptions: The plight of elderly women and Catholic Church [Article]

June 8, 2023
Business

Govt issues one-month ultimatum for merchant subscribers to register SIMs

June 8, 2023
Top Stories

Govt aims to transform fishing industry with new aquaculture centre

June 8, 2023
General

Ibrahim Mahama donates 500 cement bags to PRESEC-Legon

June 8, 2023
General

Sunyani Municipal Education Directorate inducts executives

June 8, 2023
Top Stories

28.9m SIM cards fully registered in just ended re-registration – Ursula

June 8, 2023
Next Post

Oil futures have slid below $100 as investors brace for recession

TOP STORIES

Govt issues one-month ultimatum for merchant subscribers to register SIMs

June 8, 2023

#CitiBusinessFestival: Go digital to increase customer reach – Businesses told

June 8, 2023

28.9m SIM cards fully registered in just ended re-registration – Ursula

June 8, 2023
Load More
ADVERTISEMENT
Citinewsroom – Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV

© 2023 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos

© 2023 All Rights Reserved Citi Newsroom.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT