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The commercial manager of Yala Ghana Limited, Theophilus Djorbuah, urged the Ghanaian government to take strategic measures to curb tax increases and depreciation of the Cedi to ease the burden on private businesses.
He appealed to the government, saying there was an urgent need for it to implement policies to reduce imports of goods and services as it would lead to depreciation of the cedi.
He said the only way the Ghanaian Cedi could compete with other foreign currencies was if Ghana exported more goods than it imported. He said the persistence of these challenges had severely impacted private sector production and employment.
Theophilus Jobua stressed the need for government to address these issues as they are harming the private sector and may even lead to the closure of some businesses.
He went on to say that companies producing for the market have no choice but to increase the prices of their products, which in turn affects consumers as they all complain.
Another concern he raised was the high taxes most private businesses are forced to pay. He said these “killer taxes” sometimes force companies to close or lay off employees.
He further revealed that the scarcity of raw materials for domestic production usually forces production companies to import, while the huge VAT and other taxes levied on these imported raw materials also force these companies to increase the prices of their goods.
Theophilus Djorbuah made that call when Yara Ghana Limited (producers of Activa, Sulphan, Asaase Wura among others) launched a new product called “YaraVita Croplift Bio” in Ejura, Ashanti Region.
He was replying to a farmer who praised the company for always producing quality products but expressed concern about the high prices its products fetch in the market.
Responding to the question, Mr Jobua said the company’s aspiration is to always produce quality yet affordable products for the market.
He, however, declared that the company was committed to helping Ghanaian farmers produce quality products for the country.
He urged the government to speed up action to end the pain suffered by private companies due to high production costs and taxes.
Meanwhile, former MP for Ejura constituency and chief executive officer of PEE Farms, Issifu Pangabu Mohammed, also urged government to subsidise agricultural inputs and remove several taxes to make farming more attractive.
According to the former MP, it is of great concern that most young people are not willing to take up farming due to its high cost.
source: Nana Pepla
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