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Defiant AGI kicks against new taxes

In an exclusive interview with president of AGI James Asare- Agyei, he said given the dire economic conditions industry has had to deal with in 2015, one would have expected that the 2016 budget would map out a critical plan to deal with them.

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The Association of Ghana Industries  has expressed dissatisfaction at the 2016 Budget's silence on tackling  long standing problems affecting the economy.

In an exclusive interview with president of AGI James Asare- Agyei, he said given the dire economic conditions industry has had to deal with in 2015, one would have expected that the 2016 budget would map out a critical plan to deal with them.

2015 has agreeably been a difficult year for industry and business subsector. A cursory assessment of the manufacturing sector reveals that manufacturers have had  to cut production by close to 50 percent  due to the prevailing energy crisis.

The local currency,  the Ghana Cedi, has also seen close to 30 percent depreciation since November 2014, bringing extreme difficulties on the manufacturing and industrial sectors.

"There's the need for government to set up a stimulus fund for industries because of the tumultuous times government's policies took us through in 2016. We need about 1 billion dollars stimullus package for industries involved in exports, but we did not see anything like that."-  James Asare-Adjei

James Asare-Adjei added that AGI expected clear- cut plans for tackling the current energy crisis.

" We also expected to see clear plans in the budget geared towards tackling the energy crisis, and we  were disspaointed. Although there were mention of adding to generation capacity"

There has been talk about possible introduction of more taxes in 2016, even though there was little mention of it in the budget statement.

The AGI president stressed that they will not accept such taxes and levies in  2016.

" Industries cannot take any additional taxes that will burden them further is not welcome. We are not  looking forward for more taxes, already we are burdened with multiplicity of taxes. So it is important nothing is done to disturb he already difficult economic situation"

 

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