Importers are indifferent about the Vice President, Dr. Mahamudu Bawumia’s revelation of reviewing the date used in calculating the exchange rate for them at the ports.
The Vice President stated earlier that government is in the process of reviewing the date after several complaints from importers and other business associations.
The businesses have complained about the impact of the depreciation of the cedi on their operations at the ports.
By this process for calculating the cost of imports in relation to the dollar will be extended from one week to six months.
In an interview with Citi Business News, the Executive Secretary of the Importers and Exporters Association of Ghana, Mr. Awingobit insisted on possible timelines for the implementation of the policy.
“I would want to see it being implemented then I would say that is good news but if it is just a political talk that they are in the process, I cannot applaud them in the process because it can sometimes take over years and the politician will still tell you it is in the pipeline.”
“For us as a business community we are looking at practicality, how soon is that going to be done, is it going to be done now and sooner or in the near future.”
Mr. Awingobit added: “Again we are not just looking at the rate custom is using in calculating its duty alone, we are also looking at the rate at which the cedi is depreciating as against the dollar. Are we saying that government is going to put up clear plans in place? It is just a political talk but we want to see its implementation.”
citibusinessnews
