Dr Mahamud Bawumia, the flagbearer of the New Patriotic Party, has reiterated his determination to improve ports’ business-friendliness by enacting fixed exchange rates to reduce the pressure that traders suffer from foreign exchange.
He stressed that this move will lessen the possibility of port traffic being lost to nearby nations.
The Vice President stressed in his speech at the town hall meeting with the Pharmaceutical Society and other Pharma Groups how important it is for companies, especially those in the pharmacy sector, to have a competitive advantage to spur economic growth.
We plan to implement a more flat-specific duty structure in place of the current one. You are aware of the amount you are paying in cedis if you have a 40-foot container. Thus, you address the issue without considering the exchange rate.
” we will also ensure that our responsibilities at ports cannot surpass those of our rival, Lome. And because ours are greater, there is currently a lot of container diversion to Lome.
Dr. Kow Donkor, the president of the Pharmaceutical Society of Ghana, voiced hope that the issues brought up by the organization’s members would be taken care of, offering solace to them, during a session held outside the main meeting.
“We are aware of the oil sector; the Bank of Ghana provides US dollars for imports; the pharmaceutical sector and medications are additional unique goods. A lack of medications turns into a problem for national security.
“It will also help to stabilize the prices if the central bank provides funding at a special rate for pharmaceutical importers and manufacturers.”
