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    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

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    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

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AGI threatens to boycott utility price hikes

bycitibusinessnews
November 4, 2015
in Business, Local Economy, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

The Association of Ghana Industries (AGI) has charged government to stop any planned major utility tariff increment.

[contextly_sidebar id=”np3f4hY9jswvQ3MlHALZ6izlZsBZlvjx”]According to the AGI, industry cannot pay the foreign exchange losses incurred by the utility companies due to the depreciation of the cedi.

Three utility companies are proposing a more than 100 per cent increment in tariffs for 2015.

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The President of the AGI James Asare Adjei speaking at the launch of the Afro Barometer report said government must make do its promise of ending the power crisis before close of year.

“Going back to the last tariff review upwards, have we been able to meet all the benchmark for which there was the need for tariff increases if we haven’t been able to meet all the benchmarks that were set why are we asking of tariff increases again?” he said.

The issue is not only incessant increase of tariff but there is the need for us to look critically at the efficiency of their operations. There is also the need for us to look at whether utility companies for example ECG, are able to recover bills effectively. If you are recovering 60-65 percent of bills you put out there and you increase it to 90-95 percent do you know how much you can recoup?”.

He added that “even if you come to power users and continuously increase tariffs and you are still not able efficiently to recover all bills and tariffs then you are back to square one. So AGI thinks the solution is not with the continuous increment of tariffs that is why we have stated clearly that industry is not ready for tariff increases,”.

–

By:   Norvan Acquah-Hayford/citifmonline.com/Ghana

 

 

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