Reversal of benchmark value to take effect from Jan.4 – GRA

Prices of affected items to go up by 30%

GUTA to engage government to rescind its decision

Prices of some 43 selected imported items are expected to increase by 30%, effective tomorrow January 4, 2022.

The GRA has said that, its Customs Division will begin the implementation of government’s policy directive on the reversal of the reduction of values of imports on 43 selected items.

In light of this, First Vice Chairman of the Ghana Union of traders Association, (GUTA), Clement Boateng, has said consumers will be the most affected if the directive takes effect tomorrow.

According to him, importers are not philantropists, thus any cost they incur will be transferred to consumers.

This he believes will hurt consumers. He spoke in an interview on JoyNews.

“If it takes effect from tomorrow, consumers should brace themselves up for price increment. No business man, importer or exporter is father Christmas, and so for every cost that is incurred by the importer it will definitely be passed on to the consumer.

He however assured consumers the association’s efforts to reach a profitable consensus with government on the way forward.

“But we are still in talks with government to see how best this benchmark value reversal can work” he said.

The 43 affected items include, sugar, home delivery vehicles, sanitary towels, oil, among others