Spokesperson for vice president, Dr. Mahamudu Bawumia, Dr. Gideon Boako, has explained that the reduction in the benchmark import values by 50%, is significant, and would yield long term returns.
He indicated that the move would not make Ghana a dumping ground for goods but rather boost local trade.
Speaking to Citi News, Dr Boako said the decision was in the best interest of Ghanaians.
His comments comes after some Ghanaians questioned the impact of the reduction on government’s revenue drive and local businesses.
Some have even suggested that the move will turn Ghana into a dumping site for imported products.
The vice president announced a 50 percent reduction in the benchmark import values for all goods, and 30% for cars at a town hall meeting held on Wednesday3, April , 2019.
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