The Ghana Union of Traders Association (GUTA) is asking government to come clear on the timelines in which the directive given for the Bank of Ghana to seize forex support for some food items imported into the country will be implemented.
According to him goods which were procured but are yet to arrive in the country before the directive was given should receive the necessary forex support from the Bank of Ghana. This he says will prevent harsh shocks to the businesses.
Some of the items which will no longer receive forex support from the Bank of Ghana include rice, vegetable oil, toothpicks, pasta, fruit juice, bottled water and tiles.
GUTA president, Dr. Joseph Obeng in a Citi Business News interview said “We are appealing to the Bank of Ghana to provide timelines . If we are saying that the directive will apply to new imports, lets establish it because how will we pay for goods that have already been procured?”
He further argued that “the same businessmen will be those investing in the other sectors that the government is trying to boost” by withdrawing forex support for certain commodities hence their call for the Government to declare timelines in order to support better planning.