The Association of Ghana Industries says it has serious concerns with some of the measures announced by the Bank of Ghana to arrest the fall of the local currency and therefore called for a broader consultation.

Chief Executive Officer of the Association, Seth Twum Akwaboah, told Joy FM's Evans Mensah they were not consulted by the government before the measures were announced.

The Bank of Ghana, last Monday, announced a number of measures aimed at curbing the increasing dollarization of the economy and hopefully to strengthen the local currency-cedi.

Per the measures announced, it will be illegal for public and private institutions to trade in dollars.

Cash withdrawals over the counter shall only be permitted for travel purposes outside Ghana and shall not exceed US$10,000.00 or its equivalent in convertible foreign currency, per person, per travel.

The measures have received widespread criticisms even though government and cabinet have supported it.

The Association of Ghana Industries is the next institution to question some of the measures taken by the Bank of Ghana.

Seth Twum Akwaboah said while the association appreciates the steps by government to reverse the downward trend of the cedi and the economy as a whole, members of the association have cause to believe some of the measures are not business friendly and must be revoked.

For example, the part of the measures that says "within five working days if you have export proceeds, it should be converted into cedis. And then of course the idea that proceeds from exports should within 60 days be put in a local bank," are not friendly, he complained.

The Association is set to meet members of the Finance Ministry, Trade and Industry Ministry as well as officials of the Bank of Ghana to seek clarity on some of the measures and the possibility of having those measures relooked at.

Mr. Akwaboah hopes the government will listen to their concerns, which will be in the best interest of everybody.