Business community elated over suspension of import restrictions bill

The leadership of the Joint Business Consultative Forum of Ghana has expressed its excitement about the suspension of the Legislative Instrument (LI) seeking to restrict the importation of some products into the country.

They have also expressed their utmost gratitude to the Speaker of Parliament and the minority for their fortitude and resoluteness in holding the fort for the trading community.

The government, on December 7, announced the suspension of the Export and Import Regulations 2023 Bill, halting its planned implementation after facing significant opposition.

The LI sought to restrict the importation of 22 selected strategic goods such as rice, guts, bladders, stomachs of animals, poultry, animal and vegetable oil, margarine, and fruit juices.

The rest are soft drinks, mineral water, noodles and pasta, ceramic tiles, corrugated paper and paperboard, mosquito coil and insecticides, soaps, and detergents, motor cars, iron and steel, cement, polymers (plastics and plastic products), fish, sugar, clothing and apparel, biscuits, and canned tomatoes.

The decision to pause the bill’s introduction follows widespread criticism from the Minority caucus in Parliament, as well as trade industry stakeholders.

Concerns focused on the lack of adequate consultation and the potential for increased corruption under the proposed regulations.

The Minister of Information, Kojo Oppong Nkrumah, confirmed the suspension, stating that it would allow for further engagement with stakeholders and ensure everyone is on the same page.

So in a statement issued on Thursday, December 14, 2023, the Joint Business Consultative Forum of Ghana expressed “our profound gratitude and excitement at the burden-relief for the suspension of the LI that sought to restrict the importation of some selected items.”

“We cannot share our excitement without thanking the Speaker of Parliament, Hon Alban Bagbin, for his exceptional leadership role. Again, we thank the leadership of the National Democratic Congress in Parliament for their fortitude and resoluteness in holding the fort for the trading community in Ghana in our fight against the laying of the LI in Parliament.”

The Forum also thanked the Chairman and members of the Subsidiary Legislation Committee on Trade, as well as the Chairman and members of the Select Committee on Trade.

“We cannot thank the media enough for their role in amplifying and creating rich content for our advocacy,” it added.

The Forum said that as an integral stakeholder in designing the socio-economic fortunes of the country, it would at all times offer its unflinching support to any government whose trade and economic policies were forward-looking, progressive, and responsive to addressing trade and economic challenges for the collective good of the country.

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