Tag: AGI
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Minority, business community react to Ken Ofori Atta’s Midyear budget review
After the Presentation of the Midyear budget review by the Finance minister, Ken Ofori Atta, in parliament yesterday, the minority in parliament and members of the business community have been reacting to portions of the captured policies. This comes at a time when the government is making efforts to get the economy back on track…
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Use Mid-year budget to fully review the benchmark values policy– AGI CEO
Ahead of the presentation of the 2022 mid-year budget review, the Association of Ghana Industries (AGI) is calling for a full review of the benchmark values reduction policy. According to the leading industry group, despite the announced reduction in the benchmark values discounts applied to general goods and vehicles, in February this year, their goods…
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AGI urges Government to speedily take a decision on Tax Exemptions Bill
The Association of Ghana Industries, AGI, is entreating Parliament to decide on the tax exemption bill which was brought before the house in 2019. The push by the Association follows calls by many stakeholders to government to put in place measures to ensure the State is not deprived of billions of cedis, especially through tax…
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Ghana to lose out on AfCFTA gains due to high cost of doing business- AGI
As the cost of doing business continues to rise in the country, the Association of Ghana Industries (AGI), is cautioning that Ghana could miss out on the expected benefits from the much-touted African Continental Free Trade Area (AfCFTA). Data from the Ghana Statistical Service shows that the year-on-year producer price inflation which measures the average…
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Association of Ghana Industries pushes for discounts on imports of raw materials
The Association of Ghana Industries (AGI) is pushing for a special discount on imports of raw materials to make producers more competitive in the country. According to the Association, the move is aimed at helping government build a strong manufacturing sector and aid manufacturers thrive under the African Continental Free Trade Area. The Chief Executive…
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State loses GHC9bn due to reduction in benchmark values – GRA
The Ghana Revenue Authority, GRA, has revealed that government, in the last three years, has lost nearly GHC9 billion in revenue from taxes generated on imported goods as a result of the implementation of the reduction in the benchmark values policy. The amount was lost between April 2019, when the implementation of the policy was…
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A continuous rise in input prices will lead to higher commodity prices – AGI
The Association of Ghana Industries (AGI), is warning that prices of final goods will continue to rise if the high Producer Price Inflation rate in the country is not checked. Data from the Ghana Statistical Service shows that the year-on-year producer inflation for all industries was 29.3 % in March 2022. The 29.3 percent year-on-year…
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AGI advocates reduction of imports to check cedi depreciation
President of the Association of Ghana Industries, Dr. Humphrey Ayim-Darke, has emphasized the need for government to put in place measures to increase exports and reduce imports into the country. According to him, this will check the rate of depreciation of the Ghana cedi against the dollar. Currently, the Ghana cedi is the worst-performing currency…
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‘Downward review of benchmark discount value doesn’t address our concerns’ – AGI
The Association of Ghana Industries (AGI), says it is dissatisfied with the government’s decision to review the benchmark discount value while consultations are still ongoing. After months of agitation and weeks of consultations with stakeholders in the trading community on the benchmark values reduction policy, the government has finally concluded on a 30 percent discount…
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Boldly scrap discount on benchmark values – AGI
The Association of Ghana Industries (AGI) has asked the government to be bold and maintain its decision to reverse the discount policy placed on benchmark values. It said the government must ensure that it followed through with its intention to reverse the discount policy from January 17 onwards to help spur industrialisation. Addressing a press…