WE CAN'T SUBSIDIZE ENERGY TARIFF-AGI

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The Association of Ghana Industries, AGI, says industry can no longer continue to subsidize the cost of domestic power consumption and therefore demand that the next tariff adjustment should remove every subsidy on residential consumers being borne by industry. 

The Association has asked for an action plan in this regard in order not to disadvantage industry. 

Giving his report at the 56th Annual General Meeting of AGI in Kumasi, the President, James Asare-Adjei, noted that even though the dreaded unstable power supply popularly known as ‘Dumsor’, has improved, in its trail is high and unbearable utility tariffs for industry in particular, and businesses in general.

 Mr. Asare-Adjei warned that the silence of AGI about the high energy tariff does not mean that industry has accepted it and called on the authorities to do all that it takes to reduce the tariff and also improve on energy supply so as to render businesses competitive. 

Mr. Asare-Adjei disclosed that AGI, with the assistance of BUSAC Fund, has engaged a consultant to conduct an extensive study of the tax regime relating to the private sector with the aim of advocating for tax reforms. 

He expressed serious reservations about the introduction of new taxes without consultations. 

The AGI President however commended the Ministry of Trade and Industry for championing the agenda to promote Made-in-Ghana goods, which is yielding positive results. 

Mr. Asare-Adjei disclosed that Parliament will soon pass into law the International Trade Commission bill that seeks to protect local industries against unfair trade practices. 

He said Ghana signing the second Interim Economic Partnership Agreement was without any option as the consequences of a refusal would have rather been worse for Ghana, especially in the export sector. 

Mr. Asare-Adjei therefore entreated AGI-member companies to explore the opportunities available to increase their export.

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