Produce road map to implement NEF outcome — AGI

The Association of Ghana Industries (AGI) has called on the government to draw a road map with timelines for the implementation of the resolutions of the National Economic Forum (NEF).

It said the timely implementation of the resolutions was most crucial, since any delay in its implementation would “dash all hopes and prospects of getting the economy back on a sound trajectory.”

In a statement issued in Accra, the AGI said it was hopeful that the outcome of the NEF would mitigate the present economic hardships and the rising cost of doing business in the country.

The statement commended the government for initiating the process of addressing the challenging economic situation in the just-ended NEF at Senchi.

Reminder

Meanwhile, the AGI has asked the government to be mindful of the fact that the depreciation of the cedi against the major foreign currencies continued to take a heavy toll on businesses, including even those which were hitherto less vulnerable. 

“Raw material imports are getting much more expensive and industries which require these foreign inputs cannot change their prices on a daily basis in order to cover foreign exchange losses. Industries are still under serious pressure from taxes and power outages. The resultant effect of these challenges is the high cost of doing business, which continues to stifle growth and our competitiveness as a country,” it added.

The statement pledged the AGI’s commitment to the implementation process and monitoring of the results and expressed optimism that these would lead to the sustainable growth of industry.