Bawumia will impose a fixed exchange rate on imports of pharmaceuticals.1
imposes rate on exporters
“Dr. Bawumia to Implement Fixed Exchange Rate Policy for Pharmaceutical Imports”
Dr. Mahamud Bawumia, the flagbearer of the New Patriotic Party, has reiterated his resolve to improve ports’ business-friendliness by enacting fixed exchange rates in order to reduce the pressure that traders suffer from foreign exchange.
He stressed that this move will lessen the possibility of port traffic being lost to nearby nations.
The Vice President Bawumia stressed in his speech at the town hall meeting with the Pharmaceutical Society and other Pharma Groups how important it is for companies, especially those in the pharmacy sector, to have a competitive advantage in order to promote economic growth.
“We’re going to shift to a more flat, specified responsibility structure and alter the duty structure. You are aware of the cost in cedis if you rent a 40-foot container. Thus, you remove the exchange rate from,
Additionally, we’ll make sure that, in accordance with regulations, our responsibilities in ports cannot exceed those of our rival, Lome. Additionally, because ours are higher, a lot of containers are currently being diverted to Lome.
The Pharmaceutical Society of Ghana’s president, Dr. Kow Donkor, voiced hope during a discussion held outside of the meeting that the issues brought up by the organization’s members will be taken care of, offering solace to them.
“We are aware of the oil sector; the Bank of Ghana provides US dollars for imports; the pharmaceutical sector and medications are additional unique goods. A lack of medications turns into a problem for national security.
“If the central bank is planning to release funds at a special rate for the pharmaceutical importers and manufacturers, it will also go a long way to stabilize the prices.”
source : citinewsroom.com
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