I'll introduce fixed exchange rate for pharmaceutical importers — Bawumia

This measure is designed to ease the foreign exchange burden encountered by traders, while also reducing the possibility of losing port activity to neighboring nations.

Addressing attendees at a town hall meeting with the Pharmaceutical Society and other pharmaceutical groups, he underscored the importance for businesses, including those in the pharmacy sector, to nurture competitiveness as a means to stimulate economic advancement.

He said "We're going to change the duty structure and go into more of a flat specific duty. If you have a 40-footer container, you know how much you are paying in cedis. So, you take the exchange rate out of the matter and deal with it.

"We are also going to make sure that our duties in ports by policy cannot be higher than in Lome, which is our competitor. And right now, there’s a lot of diversion of containers to Lome because ours are higher."

He emphasized the imperative of bolstering local capacity within the healthcare sector, citing the nation's inability to sustain reliance on external sources for health assistance.

Dr. Bawumia highlighted insights gained from the procurement of vaccines amid the COVID-19 pandemic, stressing the importance of preparing for worst-case scenarios.

Reflecting on the challenges faced during the pandemic, he noted instances of vaccine nationalism and the limitations experienced by countries like India, emphasizing the need for self-sufficiency in healthcare.