• Fri. Jan 28th, 2022

The Reversal of benchmark value; Sammy Gyamfi applauds GUTA for kicking against it.

The National Communications Officer of the main opposition National Democratic Congress (NDC), Sammy Gyamfi, has praised the Ghana Union of Traders Association (GUTA), the Ghana Importers and Exporters Association, and all those who opposed the government’s decision to reverse import benchmark value reductions.

His praise for the unions comes after President Nana Addo Dankwa Akufo-Addo was reported to have ordered the suspension of the benchmark policy reversal on Saturday, January 8.

In a tweet, Sammy Gyamfi claimed that the decision had been postponed due to the efforts of such groups.

“This is VICTORY for the Ghanaian people. Kudos to GUTA, the Importers and Exporters Association of Ghana and all those who stood against the callous decision by government to reverse benchmark value discounts on imports.”

“Together, we have averted what was going to be one of the most draconian and devastating economic policies in Ghana’s history. We have demonstrated that the power of the people is powerful than the people in power.”

At a press conference earlier this week, Sammy Gyamfi said the government’s decision to reverse the benchmark value through the Ghana Revenue Authority (GRA) was a terrible decision that came at a time when the cedi was depreciating and world commodity prices were rising at an alarming rate, with freight and port handling charges being extremely high.

He said more importantly, “the callous decision by government to reverse benchmark value discounts comes at a time Ghanaian businesses, startups, parents and households are reeling under a yoke of excessive taxation, persistent increases in fuel prices and high cost of living never before witnessed in the anals of our country.”

President Akufo-Addo directed the Ghana Revenue Authority (GRA) to defer reversal of discounts on benchmark values until broader consultations could be held on Saturday, January 9, 2022.

The Ghana Revenue Authority (GRA) issued a directive on January 2, 2022, stating that the Customs Division of the Ghana Revenue Authority will commence the effective execution of the reversal of discounts on certain categories of goods.

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