The Spare Parts Dealers Association has expressed shock at calls by the Association of Ghana Industries for the government to review the 50% and 30% Benchmark Values policy of some 32 selected items.

According to the AGI, the 50% Benchmark value is forcing producers out of business as imported goods are rather becoming cheaper.

But the secretary of the Spare Parts Dealers Association, Eric Anti, has said that the position by the AGI is unfair as local industries also import goods.

He has warned that there will be a 25% increment in prices if the government reviews the benchmark value.

 “I am worried and all Ghanaians should be worried in the sense that the effects of this scrap will be terrible to all Ghanaians. Freight is very high, the dollar is going up. COVID has hit us drastically. The AGI is lobbying for it to be scrapped and it marvels us that a sister private business entity wants for the other party to suffer. They also import materials which they also enjoy this benchmark value,” Eric Anti told JoyNews.

The Ghana Union of Traders Association has already predicted a 25% increase in the price of general goods should there be any attempt by the government to review or reverse the 50% and 30% benchmark values policy of some 32 selected items.

It follows a letter from the Ghana Revenue Authority to the Finance Minister, calling for an outright reversal of the policy.

Speaking at a press conference, President of GUTA, Dr. Joseph Obeng warned that any attempt to introduce this policy in the 2022 Budget will disrupt Ghana’s distribution sector.

“We should be very surprised if the government succumbs to this treacherous and diabolic request of the AGI who are trying to lobby against this most acceptable flagship policy of the government to destroy the distribution sector of the economy,” Dr. Joseph Obeng said.

GUTA has cautioned the government against introducing any such policy in the 2022 Budget Statement.

The Ghana National Chamber of Pharmacy (GNCoP) has also urged the government to reconsider its decision to remove the benchmark value on pharmaceutical products.

In a press release signed by the Chief Executive Officer, Anthony Ameka, the chamber said the removal of the benchmark value on pharmaceutical products will lead to an increase in prices of medical supplies and medicines.

This, GNCoP explained, will result in a rippling effect of high-cost of healthcare delivery.