Alan Kyerematen Promises To Establish Fixed Exchange Rate Regime At The Port To Stabilise Economy
- Founder of the Movement for Change John Alan Kwadwo Kyerematen has promised the private sector that he will establish a fixed rate regime for import duties at the port
- This policy is supposed to last a maximum of six months to boost the local economy and ensure some economic stability
- He also touted all the measures he would take to ensure businesses stay afloat and thrive
Independent presidential candidate John Alan Kyerematen has promised to establish a fixed exchange rate regime for import duty payments within the first year of his presidency if he is elected.
The policy, expected to last a maximum of six months, is part of the independent candidate’s first-year economic recovery plan to reduce the high level of imported inflation in the economy.
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He explained that fixing the foreign exchange rate would stabilise the economy and ensure predictability in the country’s business environment.
He believes that the policy would improve the economic conditions within the country in the shortest possible time as more long-term plans would be prepared and implemented to halt runaway inflation for good.
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Alan shares more policies
He said this in his engagement with the Association of Ghana Industries at the Coconut Groove Hotel in Accra on May 23, 2024.
The former trade minister further assured the private sector of his unwavering commitment to ensure that they succeed within the country against all odds.
He noted that his future government, as part of his Great Transformational Plan, would implement several measures, including fiscal incentives, to incentivise and boost the development of the private sector.
He said his wealth of experience aiding the development of several large businesses across the continent and his work in fiscal policymaking make him the candidate to be supported, especially now that the country is facing severe economic problems.
Alan promises to make Ghana the lowest tax regime in ECOWAS
YEN.com.gh reported that the founder and leader of the Movement for Change, Alan Kyerematen, has promised to make Ghana the country with the lowest tax regime within the Economic Community of West African States (ECOWAS).
He said he would do this by abolishing several taxes imposed on imports to ease the cost of doing business in the country.
Recently, concerns have been raised about Ghana’s ports losing traffic to Togo over the high cost of doing business.
According to Alan Kyerematen, if given the nod, he would reverse this trend by eliminating all the “unnecessary” taxes, including the 2% Special Import Levy, the COVID-19 Health Recovery Levy, and the Ghana Health Service Disinfection Fee.
He also said he would consolidate the existing National Health Insurance Levy (NHIL) and GETFund Levy at the ports to calculate a new VAT rate and abolish taxes and charges on spare parts imports two years into his future administration.
Proofread by Edwina N.K Quarcoo, journalist and copy editor at YEN.com.gh.
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Source: YEN.com.gh
