Government must reconsider benchmark policy reversal - Food and Beverages Association

Benchmark value policy reversal to take effect January 6

Prices of commodities affected by the reversal to increase

Government is being insensitive to the plight of Ghanaians - Food and Beverages Association

The Food and Beverages Association has joined the calls for the reconsideration of the reversal of the 50% benchmark value reduction policy on some 43 selected items.

According to them, the items such as sugar, toilet rolls, palm oil, facial tissue, mosquito coil, etc. are necessities for the ordinary Ghanaian thus an increase in prices will be insensitive to the plight of Ghanaians.

Speaking in an interview on Citi Business News, Executive Secretary of the Food and Beverages Association, Samuel Aggrey, said, “the situation as it is now is the most unfortunate policy because these are food products that everybody buys every day. Now when you look at this and the government being so insensitive in bringing in the policy at this time, all these products are going to go up almost between 30 to 50 percent or even more. So, we would wish that they re-engaged stakeholders on this issue before coming out with it”.

The association also lamented the lack of stakeholder consultation by government before the implementation of the reversal.

He reiterated that the only meeting stakeholders had was with the Deputy Trade Minister which according to him, was inconclusive.

"...So we don’t know which stakeholders that they met to take this decision. If they met AGI, then I would say that it is unfortunate for them to call for the implementation of the reversal of the benchmark values because if they meant well for the industry and for Ghanaians, they would rather fight for the things that are affecting the industry.”

GUTA, on the other hand, announced that due to the reversal of the policy, consumers will soon be paying more for basic commodities such as rice, sugar, water, biscuits and soft drinks as importers will transfer any additional cost to them.

Meanwhile, the reversal of the policy was expected to be implemented on Jan. 4 but was deferred to Thursday, January 6, to allow importers who got their duty bill before the initial implementation date to pay for and clear them. Read Full Story