Business News of 2014-06-24

SSRIDA-GH supports GUTA move to close shops

The National Executives of Small Scale Rice Dealers Association of Ghana (SSRIDA-GH), have called on all its members across the country to support the call by Ghana Union of Traders Association (GUTA), to close their shops on Tuesday, June 24.
This, GUTA said is a way of expressing the grievances of members to government on some policies by the Trade and Industry Ministry.
A statement issued by Yaw Koranteng, Coordinator of SSRIDA –GH in Accra on Monday and copied to Ghana News Agency, said members support the action of GUTA since it would draw government attention to policies that are collapsing and frustrating local businesses.
According to SSRIDA, Ghana’s economy is now largely controlled by foreign traders and importers, which is contributing to the depreciation of the cedi, leading to economic crises. “For the past seven months SSRIDA-GH has used different platforms to appeal to the ministry to reverse its ban on the inland importation of rice but all to no avail.
“Though we have made the ministry aware that our bankers are chasing us for the monies we borrowed to invest into the business, it appears nobody cares about the plight of local trades”, the statement said. It said the current economic chaos is gradually pushing local traders out of business.
It said the body had used different platforms to draw the ministry’s attention to the sufferings members are going through as a result of the bad policies, leading to economic hardship and difficult living condition of the average Ghanaian.
The statement said the policies are making government unpopular economically, politically and socially and dragging its image into disrepute.
Source: GNA
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