Wednesday , February 21 2018 5:05 am
Home / Business / Scrapping spare parts duty needless –Minority

Scrapping spare parts duty needless –Minority

The Minority has described as unnecessary parliament’s passing of the bill scrapping import duties on spare parts into law.

The Customs Amendment bill was passed Wednesday June 14, 2017 after it was deferred on Tuesday June 13, 2017.

Finance Minister, Ken Ofori Atta, during his presentation of the 2017 national budget statement and economic policy in Parliament, announced among others some twelve taxes that will be scrapped and in some cases a reduction.

This, according to him, will free the economy.

But according to minority, passing of the bill seeking to scrap import levies on spare part is needless and that it will not benefit the targeted beneficiaries saying since the market is free and has its own demands and supply interaction to determine the price then “there is no need to come with this [bill].”

“This people [spare parts dealers] have an association, they meet and take decisions on how to play with the market. So they will go and get the reduction, enrich their pockets and they will not reduce the prices of the spare parts,” warned the Deputy Minority leader, James Klutse Avedzi.

He added: “…There is no need to reduce the duties because the target people, the target beneficiaries who are actually the consumers, the individuals who go to the market to the buy parts will eventually not benefit.”

Asked by Starr News’ parliamentary correspondent, Ibrahim Alhassan whether the minority was against the scrapping of the duties; Mr Avedzi replied “the minority is not against it. But the minority is saying that there must be mechanisms to be put in place to ensure that the effect is felt by the final consumer.”

 

 

Source:StarrFMonline.com

Check Also

45 Pesewas More To Be Paid By Power Consumers In Six Regions

Consumers in six regions could pay 45pesewas more for power supply if the request by …

Job Creation key priority for youth- IEA Survey

Ghana launched its first comprehensive National Employment Policy in April 2015 with the aim of …

Ghana Gas local Engineers lauded for successful shutdown of Atuabo gas plant

Mr Ernest Kofi Owusu-Bempah, Communication Director of Ghana National Gas Company(Ghana Gas ) has lauded …

Leave Your Comment

%d bloggers like this: