Business News of Friday, 24 November 2023

Source: rainbowradioonline.com

You can't impose a ban on ‘yemuadie’ and others without ready substitutes – Minority

Minority Leader in Parliament, Dr Cassiel Ato Forson Minority Leader in Parliament, Dr Cassiel Ato Forson

The Minority in Parliament has asked the administration to withdraw the legislation restricting the importation of rice, fruit juice, margarine, cement, fish, sugar, and 16 other “strategic products” immediately.

The Trade Minister, Kobina Tahir Hammond, has introduced legislation in parliament to prohibit the sale of certain products.

The goal is to help boost the local industry.

According to the proposed regulation, anyone wishing to import the designated products must first obtain approval from the Trade Minister.

However, Minority Leader, Cassiel Ato Forson has described the regulation as a terrible policy that must be repealed immediately.

“We are urging the President to have a rethink because this is not a policy that we should encourage and they have to withdraw it,” he said.

He indicated that the World Trade Organisation (WTO) frowns on such a policy. He said it is a clear violation of WTO practices.

He argued that the government cannot restrict the importation of goods when there are no ready substitutes.

“If they had created domestic production for some of these items, I would have no issue. But clearly, we know they want to restrict sugar but we do not have a sugar processing plant. The one that Mr Mahama actually constructed, this government is refusing to open it so where is the sugar going to come from?

“What they are seeking to do is to create businesses for their financiers,” he claimed.

He also expressed worry that with the development, traders might not get the licence to import products if they do not have ties with the New Patriotic Party.

Below are the list of 22 items considered for import restriction:

Rice
Guts, bladders and stomachs of animals
Poultry
Animal and Vegetable Oil
Margarine
Fruit Juices
Soft Drink
Mineral Water
Noodles and Pasta
Ceramic Tiles
Corrugated Paper and Paper Board
Mosquito Coil and Insecticides
Soaps and Detergents
Motor Cars
Iron and Steel
Cement
Polymers (Plastics and Plastic Products)
Fish
Sugar
Clothing and Apparel
Biscuits
Canned Tomatoes