AGI Demands Further Reduction of Electricity Tariff

The Association for Ghana Industries (AGI) has pleaded with the government to further reduce electricity tariffs to enable manufacturing industries survive.

Mrs. Gyamfua Owusu-Akyaw, the Ashanti and Brong-Ahafo Regional Chairperson, AGI, speaking at the 19th Annual General Meeting (AGM), of the AGI in Kumasi, said the AGI appreciated the current reduction, but “the rate is still high”.

She commended the government for the numerous policies and initiatives to facilitating industrial growth such as the single window clearance, abolishing of “nuisance” taxes and stimulus packages for both distressed companies and the 1D1F policy among others interventions.

The Chairperson however indicated that the high rate of some taxes and levies, environmental protection tax, import duties on raw materials, municipal and district billboard levies were also sources of maximum concern due to its potential to stifle industrial growth.

Mrs Owusu-Akyaw spoke of what the AGI was doing in assisting to resolve some of the challenges their members in the two regions were facing following complaints from members especially with regard to the accessibility of the government’s stimulus package and the One District One Factory (1D1F) initiative.

The meeting, which was held under the theme “Addressing the challenges of doing business in Ghana”, was aimed at taking stock of the Association’s activities over the past year, access current circumstances and use lessons learnt to inform actions that enhanced operations and growth of business.

Mrs. Owusu-Akyaw said that they were focusing on achieving efficient operations by eliminating major bottlenecks, especially for new entrants to the industry.

Mr. Simon Osei-Mensah, Ashanti Regional Minister, reiterated that government was growing the economy and creating wealth for the people through private sector empowerment, urging all business owners to support the various government initiatives.

The government has therefore taken steps to restore the micro-economic stability and shifted the focus of economic management from taxation to production.

Mr. Osei-Mensah called on the AGI to be “captains” to lead production activities in the country.

He recommitted their continuous support to the private sector and stabilizing the economy.