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Business News of Thursday, 9 May 2019

Source: citibusinessnews.com

Local manufacturers petition Trade Ministry over imminent collapse of Ghanaian companies

The Ministry of Trade and Industry has received petitions from various manufacturing companies calling for government’s intervention to avert an imminent collapse of some local companies due to competition from imported products.

The groups, including Aluworks, Cement Manufacturers Association of Ghana, Steel Manufacturers Association of Ghana as well as Association of Biscuit Manufacturers want government to take certain measures to address their concerns.

The various manufacturing companies told the Trade Ministry they are facing serious competition from the import of cheap products.

Presenting a petition on behalf of the Association of Biscuit Manufacturers, General Manager of Mass Industries Limited, Adel Shami said government must begin taxing imported biscuits to nib the problem in the bud.

“We are paying extra definitely than the imported ones. We are not saying remove it for us, we are saying impose its equivalent onto them so that it can be a win win for government” he said.

The Cement Manufacturers of Ghana also made a petition to government to take action against Dangote Cement and other foreign cement companies to protect the local cement market.

They argued that Dangote Cement only imports unwholesome cement unto the Ghanaian market.

“Our petition is simply that we have adequate in stored capacity. Do we need to import cement? There should be the need to safeguard measures to protect local cement industry” , Executive Secretary for Cement and Steel Manufacturers Association of Ghana Reverend Doctor George Dawson-Ahmrah lamented .

Meanwhile, he pleaded with government to protect the steel industry as companies keep folding up.

Managing Director of Aluworks Limited, Kwasi Okoh also wants government to counter the export rebate given in China to make the Ghanaian market competitive again.

Trade Minister Alan Kyerematen after listening to their petitions assured of government’s intervention to make the business community thrive.

“There can be no better testimony of government’s own commitment to support our local private sector. The five-member committee will surely address all challenges affecting the various sectors” he assured.