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24.03.2009 Business & Finance

Government holds back tariffs on rice

By myjoyonline
Government holds back tariffs on rice

Finance Minister Kwabena Duffour says government will suspend the plan to re-introduce tariffs on rice imports and other imported cereals.

The tariffs were taken off last year by the previous administration during the peak of the food crisis to ensure that prices of those commodities remained within reasonable range.

However Dr Duffour announced during the presentation of the 2009 budget to Parliament that the taxes were going to be brought back.

Following the announcement, a legislative process was started to re-introduce the taxes but Dr Duffour in an interview with Joy News said government has decided to hold back its plans.

Dr Duffour however mentioned that the tariffs are likely to be introduced by July 2009.