Business News of Wednesday, 4 May 2016

Source: topfmonline.com

Nduom advocates higher prices for imported goods

Dr. Papa Kwesi Nduom Dr. Papa Kwesi Nduom

Businessman and Politician, Dr. Papa Kwesi Nduom is advocating a system in Ghana where Ghanaians will not be able to afford imported products in order to create room for locally manufactured products to flourish.

He wants the prices of imported products increased astronomically as against the prices of locally produced ones in order to quell the inordinate taste for foreign goods among Ghanaians.

According to Dr Nduom, it is only when Ghanaians cannot afford to buy imported products that locally manufactured goods will perform well on the market.

Speaking on TV 3’s News @ 10 on Monday, the founder of the Progressive People’s Party (PPP) and President of Groupe Nduom, noted that elsewhere around the world, specifically North Korea, a system has been deliberately created where the citizens cannot afford imported products, leaving them with the only option to patronize goods produced locally.

Ghana must also adopt such a system, he said.