Business News of 2014-01-03

Ban on importation of rice relaxed

The Ministry of Trade and Industry has relaxed the ban on importation of rice through the country’s borders.
The decision was taken after the Ministry considered a petition received from Ghana-Ivory Coast Rice Importers to enable them clear the commodity.
A statement signed by Nana Akrasi Sarpong, Acting Director of Communication and Public Affairs at the Ministry and copied to Ghana News Agency on Thursday said, the lifting of the ban would assist importers who have made financial commitments or advance payment for rice from their suppliers abroad.
The statement said in view of this, a stakeholders meeting between officials of Ghana Revenue Authority (GRA), Rice Importers and officials from the Ministry have been schedule for Tuesday, January 7.
It said the meeting is expected to comprehensively review the importation of rice through the Ivory Coast border and assess whether the importers pay the requisite duties or not.
The Ministry therefore implore officials of GRA to ensure that, the required taxes are paid to enable the Government realise the needed revenue for national development.