The Customs, Excise (duties and other taxes) Amendment Bill, which forms part of measures by the government to lessen the rising global commodity prices on the domestic economy, was yesterday passed into an Act by Parliament. The Bill, which removes the import duty on rice, wheat, vegetable oil and yellow maize, was first passed by the House on May 23 and presented to the President for his assent. The President, however, referred the Bill back to Parliament on June, requesting it to amend an anomaly pertaining to "vegetable oil," and replacing it with "crude vegetable oils." The explanation given was that the removal of the import duty should be on crude vegetable oils, the raw material for the production of the end product (cooking oils and soap) and not vice versa. "This is to reduce the cost borne by local manufacturers which will then translate into reduction in the prices of the end product," the letter from the Presidency explained. The President's proposal for an amendment to that portion of the Bill was referred to the Committee of Finance for consideration and report on June 5. The motion for the passage of the Bill was moved by Anthony Osei-Akoto, Minister of State at the Ministry of Finance and Economic Planning and seconded by P.C. Appiah-Ofori (NPP-Asikuma/Odoben/Brakwa), a member of the committee. Seconding the motion, Mr Appiah-Ofori said the law would ensure that local manufacturers are protected from undue competition from importers. He said during its consideration of the Bill, the committee was informed that for the person to benefit from the concessional duty rate, he must be a recognised manufacturer or must possess refinery facilities for soap or food processing. "The committee has carefully considered the Bill and the request of His Excellency the President and is of the opinion that the request is in line with the spirit of the Bill," he said and urged the House to adopt the report and pass the Bill. Making his contribution, J. B. Danquah Adu (NPP-Akim Abuakwa North) stated that the President's decision to refer the Bill back to the House was motivated by concerns raised by the Associatin of Ghana Industries and the President’s own good intentions. He said the amemdment would improve the income of the rural folk especially in the western and eastern parts of the country and also maintain “pocket-size” prices all year round for consumers. Dan Abodakpi (NDC-Keta), contributing to the motion, said the global commodity crisis could be turned around for the better if the government put measures in place to deal with supply and production capacity at the local level. Source: Ghanaian Times