Business News of 2014-05-18

Trade Ministry polices killing local industries

The Bureau for Internal Affairs (BIA) an anti-corruption organisation and a centre for information gathering on public concerns, has called on the President to monitor policies that are not in the interest of the poor.

The BIA says government policy directives can worsen the socio-economic conditions of the people or improve their lives. It is against this background that the BIA is advocating that all policies are given the necessary political considerations and consultations.

Ms Cynthia Essandoh, Coordinator of BIA said in a statement issued in Accra on Sunday that the implementation of policies that affects industrialisation tend to threaten the security of local businesses and undermines governments vision of serving the people better.

The BIA said for instance the ban of inland rice importation by the Ministry of Trade and Industry is causing massive job, revenue and working capital loss. The statement said the trend has also seen the rise of foreign companies resulting in the collapse of local businesses.

BIA is therefore calling on President John Dramani Mahama to ensure that government policies are pro-poor. The statement said over burdening business with too many taxes would discourage job creation and reduction of poverty.

The BIA asked the President to implement policies that are geared towards improving the economic situation of the country.

The BIA aims at bridging the communication gap between the public and the authorities on issues negatively affecting the nation.

Source: GNA
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