Bawumia Pledges Increased Predictability in Port Charges for Pharmaceutical Importers
Bawumia pledges enhanced predictability in port charges for pharmaceutical importers. Stay informed on measures to support the healthcare sector.
Dr. Mahamudu Bawumia, the flagbearer of the New Patriotic Party (NPP), has pledged to enhance the business climate at ports by introducing more consistent port rates. This initiative seeks to alleviate foreign exchange challenges encountered by traders and curb the diversion of port activities to neighboring nations.
Speaking at a town hall meeting on Thursday, April 4, Dr. Bawumia emphasized the significance of businesses, including those in the pharmaceutical sector, maintaining competitiveness to foster economic advancement. He addressed the Pharmaceutical Society and other pharmaceutical groups, underlining the importance of their role in driving economic growth.
Furthermore, he pledged to introduce policies to ensure that Ghana’s port duties remain competitive compared to those in Lome, Togo.
“We’re going to change the duty structure and go into more of a flat specific duty. If you have a 40-footer container, you know how much you are paying in cedis. So, you take the exchange rate out of the matter and deal with it.”
“We are also going to make sure that our duties in ports by policy, cannot be higher than in Lome, which is our competitor. And right now, there’s a lot of diversion of containers to Lome because ours are higher.”
During the meeting, Dr. Kow Donkor, President of the Pharmaceutical Society of Ghana, conveyed optimism that the issues raised by society members would be effectively addressed, offering relief to its members.
He urged the Bank of Ghana to make funding available at a special rate for pharmaceutical importers and manufacturers.
“We know the oil industry; the Bank of Ghana makes available the US dollars for their imports, pharmaceutical industry and medicines are also special items. When you have a shortage of medicines, that becomes a national security issue.”
“If the central bank is going to make funding available at a special rate for the pharmaceutical importers and manufacturers, it will also go a long way to stabilise the prices.”
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