Business News of Saturday, 10 August 2013

Source: GNA

Freight forwarders seek legal backing

The Ghana Institute of Freight Forwarders (GIFF) has urged Parliament to enact laws to give the body the legal impetus to repress unprofessional conduct among its members and to regulate foreign interference in the business of GIFF.

The GIFF said since the Institute was a registered professional body, there was the need for legislation giving it the backing to regulate the activities of its members and the sector, some of whom have sullied the image of the organization with illegal dealings at the Tema Harbour.

Mr Carlos Ahenkorah, President of GIFF, made the appeal when members of the Parliamentary Select Committee on Roads and Transport visited the Institute at Tema, to acquaint themselves with the operations and challenges of the Institute and sector.

He told the Committee that it was very important that members of the Institute, who involved in corrupt practices, were punished for their deeds, to preserve the image of the body. Mr Ahenkorah also stressed the need for a directive to guard the industry against foreign competition that was stifling the growth of local companies in the sector.

He said the sector should be reserved for Ghanaian companies that have over the years invested in the industry and had the capacity to handle the various scope of operation in that sector.

The GIFF President said it was unfortunate that foreign companies who had not sown in that sector were reaping all the benefits and repatriating their huge profits at the detriment of the Ghanaian economy, when local companies could increase their tax obligations to the state if they were given the right backing to control the industry.

He said that the GIFF paid some GH¢505 million as income tax and GH¢254 million as Value Added Tax in 2012, as well as generating employment for thousands of Ghanaians.

Mr Micheal Boampong, Chairman of the Parliamentary Select Committee, who applauded the contributions of GIFF to the country’s economy, asked that the Institute presented its complaints and concerns formally to the Committee for it to be raised on the floor of the House when its resumes duty in October.