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Importers caution government against review of benchmark value

 Importers caution government against review of benchmark value Tema Port [File Photo] The Importers and Exporters Association of Ghana has cautioned government against the intended review of the 50 percent benchmark value given to importers.

Samson Awingobit Asaki, Executive Secretary of the Importers and Exporters Association of Ghana, made the appeal in a statement copied to the Ghana News Agency in Tema on Sunday.

The Importers also discounted the Association of Ghana Industries (AGI) purported projections that “if the benchmark which government gave to importers two years ago was not reviewed, it would lead to the collapse of the local manufacturing sector”.

Mr Asaki noted that the Association would consider holding massive demonstrations at the port “if the government goes ahead to review the benchmark policy in the upcoming 2022 budget. "As we speak the importers in the country are the only entity riddled with all kinds of taxes and fees and charges. At this point in time the only life line keeping Importers and Exporters is the benchmark value."

He urged AGI to rather go to government to ask for proper utility tariffs and lower interest rate than asking for the take-off or review of the benchmark value. "We are hereby appealing to the government not to attempt reducing or even take it off completely. We shall not hesitate to do the needful if Government fall for their so-called empty threats." 

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