Business News of 2014-01-07

Printex Sack 200 Workers?

Information gathered by Montie fm indicate that textile manufacturing company, Printex has sacked over two hundred of its worker force due to low patronage of its goods.
A member of the company’s local workers union, Francis Omari told Accra based Montie fm on Monday that affected workers reported to work Monday morning only to see a notice informing them of the termination of their appointment.
He blamed the situation on the low sales the company has been experiencing due to the influx of cheap textiles on the market especially from China.
He also cited high taxes and unavailability of markets that has led to the present situation.
Meanwhile , Mr. Omari has confirmed that members of the Textile, Garment and Leather Workers Union textile workers in the country numbering over 700 are planning to hit the streets of Accra to demand the reinstatement of the anti-piracy taskforce on textile.
The group in December last year embarked on a similar protest to register their displeasure at government’s decision to suspend the work of the taskforce.
Nii Lante Vanderpuije , Deputy Trade Minister, suspended the swoops of the textile anti-piracy taskforce following concerns over the seizure of some 1,000 pieces of pirated textiles.
However, the Textile, Garment and Leather Workers Union vehemently opposed the suspension.
They say, almost a month after petitioning the Trade Ministry for the reinstatement of the taskforce, not much has been achieved.
Though the date for the intended demonstration has not been confirmed, Mr Omari believes it will send the right signal to the government.
But deputy minister of Trade Nii Lante Vanderpuije, described the stance taken by the Textile, Garment and Leather Workers Union as unfortunate , saying the ministry is working in the best interest of the local textile manufacturing industry.