Bawumia Promises More Predictable Port Rates For Importers To Ease Business Environment

Bawumia Promises More Predictable Port Rates For Importers To Ease Business Environment

  • Dr Mahamudu Bawumia says he is determined to make Ghana's ports as competitive as Togo's
  • He said he will implement a flat rate at the ports to ensure that rates are predictable and ease the business environment
  • He was speaking at a town hall meeting with the Pharmaseutical society of Ghana and other pharma groups

Flagbearer of the New Patriotic Party (NPP), Dr Mahamudu Bawumia, has promised to implement more predictable rates to improve the business environment at the ports.

According to the Vice President, the measure addresses foreign exchange challenges that plague traders at the ports and often lead to port traffic diverting to neighbouring countries.

Bawumia Promises More Predictable Port Rates For Importers To Ease Business Environment
Dr Bawumia is determined to make Ghana's ports competitive in the sub-region
Source: Getty Images

At a town hall meeting with the Pharmaseutical Society of Ghana and other Pharma Groups on Thursday, April 4, he stated that it was important for the pharma sector in Ghana to maintain its competitive edge in the West African sub-region to drive economic growth.

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He stated that his future government would improve the general business environment to allow for business expansion and more innovation to drive development.

He said his government will introduce policies that would make Ghana’s port duties regain its competitive edge in relation to other ports in the sub-region.

He reiterated his promise to establish a flat rate at the port and ensure that duties are paid in cedis to cancel out the foreign exchange problem.

He revealed that to make Ghana’s ports as competitive as the Lome port, considered the busiest port in West Africa, a new policy would be introduced to make port duties at Ghana’s ports either the same as Lome’s or lower.

Pharmaseutical Society seeks funding

The Pharmaseutical Society also shared some challenges they face with their business.

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Dr Kow Donkor, President of the Pharmaseutical Society of Ghana, took the opportunity to urge the Bank of Ghana to release funding at a special rate for pharmaseutical importers and manufacturers.

According to him, the industry has been plagued with funding challenges for some time.

He stated that just as the central bank provides funding, particularly for the oil industry, it should do the same for the pharmaseutical industry.

He argued that a shortage of medicines due to a lack of funding can also be considered a national security threat, and thus, attention must be given to the sector.

He noted that making funding available at a special rate will also stabilise the price of medicines on the market.

Bawumia to abolish e-levy, other taxes

Meanwhile, YEN.com.gh reported that the NPP flagbearer, Dr Mahamudu Bawumia, has promised to abolish the e-levy and other taxes.

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Bawumia said he would execute these promises if elected president after the 2024 polls.

Bawumia addressed supporters in preparation for his political campaign at the Kofi Ohene Konadu Auditorium at UPSA.

Source: YEN.com.gh

Authors:
Cornerlis Affre avatar

Cornerlis Affre (CA and Politics Editor) Cornerlis Kweku Affre is at present a Current Affairs Editor at Yen.com. He covers politics, business, and other current affairs. He has worked in various roles in the media space for at least 5 years. You can reach out to him at cornerlis.affre@yen.com.gh

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