Spare parts dealers jubilate over scrapping of import duties

Spare parts dealers at Abossey Okai and Suame Magazine have expressed joy at parliament’s passage of the Customs Amendment Bill that effectively scraps import duties on spare parts.

The minority in parliament received the bill which was passed Wednesday with apprehension arguing that the impact of the said bill is far fetched and hence its passage will not improve the lots of spare parts dealers.

But most of the dealers believed the move will shore up their market and encourage people to buy more from them.

“We are happy about that. It will boost the business because everything is down now. At first we used to find it very difficult clearing our goods, but now is okay, one of the dealers,”told Kasapafmonline.com.

Also at Suame Magazine, most of the dealers who spoke to Kasapa 102.5 FM welcomed the move indicating their preparedness to reduce prices of their spare parts should the bill come into force.

Deputy Minority Leader, James Avedzi has said the bill is unlikely to yield the required results, since in his view, no mechanism has been put in place to ensure a corresponding reduction in prices of spare parts to reflect the removal of import duties.

In spite of the concerns by the minority MPs, the spare parts dealers contend there is a slowdown in business due to the tight liquidity in the system, and hence the removal of import duty taxes will in the longrun boost their businesses.