Minority leader welcomes decision to suspend proposed import regulations bill

The Minority in Parliament has welcomed the government’s decision to put the brakes on the proposed import restrictions bill.

The Legislative Instrument (L.I.) would have given the Minister of Trade and Industry the sole authority to grant or deny permits to importers of certain goods. These include rice, sugar, poultry products, offal, and diapers among others.

The Minority, led by Cassiel Ato Forson, argued that this would create opportunities for corruption, state capture, and rent-seeking, and compared it to the era of ‘essential commodities’ and ‘price control’.

The Minority also expressed their support for the Ghana Union of Traders Association (GUTA), the Food and Beverages Association of Ghana, the Importers and Exporters Association of Ghana, the Ghana Institute of Freight Forwarders, Chamber of Automobile Dealership Ghana, and the Ghana National Chamber of Commerce and Industry, who all rejected the import restrictions.

Also read: Ghana ranks 7th among 10 African countries most indebted to the IMF

Minority’s opposition

The Minority leader, in a statement released on Friday, clarified that the Caucus was not against import regulations that protect local businesses. According to him, they are against a law that gives too much power to one person without checks and balances.

He welcomed the government’s decision to halt the regulations and called for a broader consultation with stakeholders.

Critics have also pointed out the contradiction in the government’s move, as it appears to defy the commitments made in Ghana’s current IMF program. These include a quantitative performance criterion against imposing or intensifying import restrictions for balance of payment reasons.

At a time when Ghanaians are grappling with economic challenges and numerous taxes, the introduction of import restrictions is seen as potentially exacerbating inflation and hoarding.

Satisfaction

Ato Forson expressed satisfaction that the government has abandoned the regulations following stiff resistance and opposition in Parliament.

He reassured the Ghanaian public and the business community that the Minority would always prioritize their interests, echoing the slogan ‘Ghana First.’

This development marks a significant victory for the NDC Minority and various stakeholders who stood against what they perceived as a potential threat to fair trade practices and economic stability in the country.

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