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Finance Minister backs policy to ban imports competing with locally manufactured products

Government moves to protect local manufacturing with import restriction policy

admin by admin
May 23, 2025
in Business
0
Ghana's economic recovery

Finance Minister Dr Cassiel Ato Forson

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Finance Minister Dr. Cassiel Ato Forson has committed to leading a new policy direction that will place restrictions on the importation of goods that can be produced locally.

The move is part of efforts to stimulate domestic manufacturing, create jobs, and protect local industries.

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This was revealed during a meeting with the Plastic Manufacturers Association, where key concerns were raised about challenges in the sector.

The Association called for a broader approach to taxation to avoid overburdening a few businesses and highlighted difficulties with exports, the misuse of import exemptions, and the dumping of low-quality imports.

Dr. Cassiel Ato Forson in a meeting with the Plastic Manufacturers Association

The Minister acknowledged these concerns and emphasised the government’s focus on stabilising the economy, lowering inflation, and reducing the exchange rate, which significantly affects port charges.

Dr. Cassiel Ato Forson with the Plastic Manufacturers Association

He also announced plans to work with the Ghana Revenue Authority to address revenue leakages at the ports.

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