The Benchmark policy was introduced in 2019 to save businesses in the country from total collapse, as a result of the very high import duties, other numerous taxes, high fees and charges on imports; ranging between 55% to 65%, draining our capital.
Presenting the 2022 Budget statement on the floor of Parliament on November 17, Finance Minister Ken Ofori-Atta indicated that the 50% and 30% benchmark values on some thirty-two selected items have been removed.
Speaking in an interview with Pan African News on the said issue, Executive Board Member of the Importers and Exporters Association of Ghana, Daniel Adjei Mensah stated that the introduction of the benchmark value policy has relieved them from financial stress especially when clearing their goods at the port.
He also pleaded with government to desist from reversing the policy.
Story By: Daniel Kwabena Asare