Minority Raises Red Flag over Gov’t L.I to Create Opportunities for Cronies with Import Restriction
The Minority Caucus in Parliament has raised red flags over the government attempt to create business opportunities for cronies and supporters with the new Legislative Instrument (L.I.) seeking to restrict the importation of certain strategic products.
The Legislative Instrument regulation aimed at limiting the importation of key goods, including rice, fruit juice, margarine, cement, fish, sugar, and 16 other strategic products.
The Caucus drew attention to a lack of readiness in domestic production for these items.
Speaking during an interview on Thursday, November 23 on the new L.I., Minority leader, Cassiel Ato Forson expressed apprehension that the licensing for imports might be influenced by political affiliations, potentially favouring members of the ruling New Patriotic Party (NPP).
He urged President Akufo-Addo to promptly withdraw the proposed regulation
The regulation, advocated by Trade Minister Kobina Tahir Hammond, is supposedly intended to bolster the local economy and stabilize the national currency.
Ato Forson criticized the proposed policy as detrimental, emphasizing the need for its immediate withdrawal.
He stated that such restrictions violate World Trade Organisation (WTO) principles and drew parallels with a historic committee, the Justice Ollennu Committee of 1967, which disapproved of similar practices due to their susceptibility to corruption.
According to him, the absence of domestic substitutes for the targeted products is very dangerous and expressed concern that restricting imports could exacerbate inflation, placing a heavier burden on the Ghanaian population.
He underscored the necessity of establishing local production facilities before imposing such limitations.
The proposed regulation encompasses 22 items, including rice, poultry, animal and vegetable oil, ceramics, corrugated paper, motor cars, and clothing.
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