Effective today (April 4), import duty at all the country’s ports will be reduced.
The reduction which ranges from 30 to 50 per cent was announced by the Vice President Dr Mahamudu Bawumia, at the Economic Management Team Town Hall meeting in Accra.
The reduction follows several petitions received by government to revise the current import duty regime.
Reactions on the reduction in import duty
At the Town Hall Meeting yesterday (April 3), the Economic Management Team led by the Vice President, Dr Mahamadu Bawumia, described the economy as bright.
The participants at the meeting had a lot of expectations regarding duties on imports.
The measures announced for importers were 50 percent reduction on import levies and 30 percent for vehicles. Some industry players shared their views with Radio Ghana.
First, the President of the Ghana Union of Traders Association, Dr. Joseph Obeng, applauded the economic interventions stressing that discussions with government have not been in vain.
For the President of the Makola Market Traders Association, Christiana Laryea, her expectations were met.
She gave the assurance that prices of goods will go down over a period of time to reflect the decrease in the import levies.
The Chairman of the Abossey Okai Spare Parts Dealers Association, Siaw Ampadu, said the measures announced are in the right direction.
He however indicated that the measures will not result in immediate reduction in prices.
The participants at the meeting had a lot of expectations regarding duties on imports.
The measures announced for importers were 50 percent reduction on import levies and 30 percent for vehicles. Some industry players shared their views with Radio Ghana.
First, the President of the Ghana Union of Traders Association, Dr. Joseph Obeng, applauded the economic interventions stressing that discussions with government have not been in vain.
For the President of the Makola Market Traders Association, Christiana Laryea, her expectations were met.
She gave the assurance that prices of goods will go down over a period of time to reflect the decrease in the import levies.
The Chairman of the Abossey Okai Spare Parts Dealers Association, Siaw Ampadu, said the measures announced are in the right direction.
He however indicated that the measures will not result in immediate reduction in prices.
