The flagbearer of the New Patriotic Party (NPP), Dr Mahamudu Bawumia, has promised to improve the business environment at ports by implementing a more predictable port rates.

This measure aims to ease the foreign exchange pressures faced by traders and prevent the loss of port traffic to neighbouring countries.

Addressing the Pharmaceutical Society and other Pharma Groups during a town hall meeting on Thursday, April 4, Dr Bawumia stressed the importance of businesses, including those in the pharmacy sector maintaining a competitive edge to drive economic growth.

Furthermore, he pledged to introduce policies to ensure that Ghana's port duties remain competitive compared to those in Lome, Togo.

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“We’re going to change the duty structure and go into more of a flat specific duty. If you have a 40-footer container, you know how much you are paying in cedis. So, you take the exchange rate out of the matter and deal with it."

“We are also going to make sure that our duties in ports by policy, cannot be higher than in Lome, which is our competitor. And right now, there’s a lot of diversion of containers to Lome because ours are higher.”

During the meeting, Dr. Kow Donkor, President of the Pharmaceutical Society of Ghana, conveyed optimism that the issues raised by society members would be effectively addressed, offering relief to its members.

He urged the Bank of Ghana to make funding available at a special rate for pharmaceutical importers and manufacturers.

“We know the oil industry; the Bank of Ghana makes available the US dollars for their imports, pharmaceutical industry and medicines are also special items. When you have a shortage of medicines, that becomes a national security issue."

“If the central bank is going to make funding available at a special rate for the pharmaceutical importers and manufacturers, it will also go a long way to stabilise the prices.”