Government to reintroduce import restrictions bill despite opposition

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Government to reintroduce import restrictions bill despite opposition
K.T Hammond

The Minister for , K.T Hammond, has announced the government's intention to reintroduce the import restrictions bill to , emphasizing its importance in protecting local manufacturers from the influx of cheap imported goods.

The Legislative Instrument (LI), which faced opposition from various quarters and was subsequently withdrawn, will be brought back to to fulfil its original purpose, according to Hammond. He highlighted the need to curb the importation of a wide range of goods, including animal intestines, which he noted amounted to over $200 million in 2023 alone.

The suspended LI sought to compel importers of 22 restricted items to obtain licenses from a committee established by the Trade Minister. Despite facing opposition from the minority in parliament, Hammond stressed the necessity of the law to sanitize Ghana's import sector and protect local producers.

Drawing parallels with countries like Malaysia and Singapore, Hammond argued that tough decisions were necessary to safeguard the Ghanaian economy and prevent foreign dominance in key sectors. He reassured that the government would not allow a few individuals to hold the economy hostage.

Chairman of the Board of Tropical Cable and Conductor Limited, Dr Tony Oteng-Gyasi, echoed the importance of protecting local businesses and expressed support for the reintroduction of the import restrictions bill. He emphasized that local companies were prepared to welcome the restrictions as a means of safeguarding their interests.

Despite the challenges and opposition faced, the government remains committed to implementing measures aimed at promoting local industries and ensuring economic stability.

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