Saturday, July 20News That Matters

Cost energy, port duties killing businesses – Industrialist

Industrialist, Professor Kofi Anokye, has said the cost of energy is killing businesses in Ghana.

He said, the establishment of businesses is solely dependent on energy and the basic form of energy we depend on in the country is electricity and fuel. And when the prices of these commodities go up, it affects everything we do,’’ he lamented.

The cost of energy in Ghana in his view is extremely expensive and has charged government to take a careful look at the sector.

Local businesses he lamented are unable to compete with foreign companies because of the cost of energy in the country.

He is also admonishing government to take a look at taxes because ‘’it is killing us’’.

Professor Anokye speaking on Frontline on Rainbow Radio 87.5Fm said, not just energy but the general cost of doing business, cost of duties at the ports, exchange rate, interest are also killing businesses.

He explained that there are some indicators that private businesses can manage whereas they are others they cannot control hence the need for government to roll out policies favourable enough to protect the private sector.

He was speaking on the expectation of the private sector ahead of the 2019 budget statement to be presented tomorrow [Thursday], before parliament by the Finance Minister Ken Ofori-Atta.

Professor Kofi Anokye stressed, ‘’I will admonish government to focus on taxes at the ports, cost of energy and import duties.’’

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