The Ghana National Chamber of Commerce and Industry (GNCCI) has stated that the announcement of reduction in electricity tariff will ease the cost of doing business in the country and also bring relief to Ghanaians.

President Nana Akufo-Addo during the Independence Day celebrations announced the reductions in the electricity tariff for residential and non-residential users.

The Public Utility Regulations Commission (PURC) subsequently in consultations with stakeholders announced a 10-30 per cent reduction in prices of electricity tariff which will take effect from March 15, 2018 but will be fully implemented starting April 1, 2018 due to the billing cycle.

Users of electricity have been provided some level of respite as residential customers will enjoy 17.5% reduction while non-residential customers will enjoy 30% reduction.

The mining industries will also enjoy 10% reduction with special load tariff customers enjoying 25%.

At a press briefing Thursday afternoon, the President of the GNCCI, Nana Dr Appiagyei Dankawoso I, said the chamber looks forward for the successful implementation of the reductions to ensure efficient and competitive energy sector along the various channels of power production, transmission and distribution.

He further urged the government to sustain reliable power supply to attract major strategic investors into the business sector to boost Ghanaian businesses.