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14.01.2017 Business & Finance

Reduce tariffs to save industries – GCCI to Ken Ofori Atta

By CitiFMonline
Reduce tariffs to save industries – GCCI to Ken Ofori Atta
LISTEN JAN 14, 2017

The Ghana Chamber of Commerce and Industry (GCCI) wants the Finance Minister Nominee, Ken Ofori Atta, to fulfill his promise to halt any immediate increase in utility and fuel prices upon assuming office officially.

The Chamber contends that the move if implemented, will ultimately save the businesses of its members from further collapse.

Ken Ofori Atta, following his nomination, pledged to bring immediate relief to consumers by cushioning them from the impact of high prices.

”We will have to examine our energy mix and I think we're likely going to get a little bit more from gas which will then help in giving us a chance to breath from that, so I don't expect us to be increasing prices of fuel and ECG. We are looking actually to see how we can as we promised, bring some relief to Ghanaians”.

Though the Chief Executive Officer for the Ghana Chamber of Commerce and Industry, Mark Badu Aboagye describes the news as welcoming, he tells Citi Business News he expects the Minister Nominee to fulfill his promise.

“For us in the private sector especially the chamber, I think it is very refreshing news. It is very good news. We have had cause to complain about the utility prices. In fact it is relatively high as compared to what other countries are paying,”

“If the government wants to develop the private sector I think it should provide some of these incentives to the private sector. Utility should be made affordable. If it is at the level that we cannot pay then it means that it is going to cripple the private sector.”

Mr. Badu Aboagye further insisted that the Finance Minister nominee commits to his pledge and not make the pronouncement one of the numerous political comments.

He was of the view that would be dire for industry.

“If he [Ken Ofori Atta] is assuring us that he is not going to increase it then we welcome the news and I hope that it is not going to be any political talk. He knows what he is talking about and he knows how he is going to do it so we are expecting that over the year or so we are taking him by his word and we don't expect that there will be an increment in utility prices.”

“This is going to fit into the cost of production of businesses and of course it means that cost of production will go down. Businesses will now have room to expand because money they would have used to pay for utility will now be used for expansion and for other purposes as well,” the GCCI boss stressed.

By: Jessica Ayorkor Aryee/

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