Vice President Dr Mahamudu Bawumia has announced a 30 percent reduction in import duties on vehicles effective tomorrow, 4th April 2019.
Dr Bawumia, on Wednesday during a town hall meeting added that import duties on other goods have also been reduced by 50 percent.
“To reduce the incidence of smuggling and enhance revenue, the benchmark delivery value of imports will be reduced by 50 per cent
“We have realized from the studies we have done that our ports are not competitive, and the import regime in our country is far too high. We are dealing with it, and, very soon, the measures that the government will roll out will become known to all of you. I am not talking next year, or in 6 months’ time, I am talking very, very soon,” he added.
This announcement was met with jubilation from the crowd
Watch video below
Source: Rebecca Addo Tetteh/Peacefmonline.com
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
Who killed people for two years?.....NPP never increased import duty, the duties you suffered in paying for the last two years was implemented by Mahama so check your facts.
But Ben, some people are clapping o. Join them, or?
As much as this is good news for importers, it's long term benefit would depend on the application of the factor being discounted, because over the period, we have been complaining wrongly about increased duty while the real cause of higher duties is rather the depreciating Cedi. The only way by which this decrease would bring sustainable economic gain is when the discounted percentage of 30%/50% is on the current Cedi to USD rate and such amount remains constant over a long period of time, in other words the Cedi-Dollar relationship at the port should be a fixed amount which would not be subjected to BOG rate which currently is changed every Tuesday, if not, will be back to square one with the same complaints come next year.
Playing to the gallery! Is this a revised budget or what? All that Bawumia said, can't it be contained in the 2019 budget? Prez. presents state of the nation address, Ken Ofori Atta presents the budget and Bawumia comes to present state of the economy and revised budget. Are we serious as a nation? Misusing of our resources unnecessarily. Look at the FUND spent on the Town hall meeting not forgetting the TIME. The same was replicated for the SONA and the BUDGET! TWEAAAAAAAAAAAAAAAA!
You kill people for two years and come and reduce it and want us to clap for you?
GOOD MOVE, THANK YOU SIR, KEEP THE FLAME BURNING.