2018 has been turbulent – Ghanaian Spare parts dealers
November 14, 2018
By Papisdaff Abdullah
According to them, the poor performance of the Cedi has had a major effect on their business since they import with the dollar.
It comes as the finance minister is set to present the 2019 budget on Thursday.
Joseph Paddy, Chairman, Spare parts Dealers Association says the crisis in the banking sector has also affected their business.
“2018 in general, we have experienced some turbulent times. We are looking forward to better times. We clear our goods in dollar and so when the dollar goes up, prices go up and people hardly buy. Some of our members had to travel to Korea for their monies but couldn’t get them. As we speak, some of our members have their monies locked in their banks. They can’t access them. We’ve written to the Bank of Ghana in this regard but we have not heard from them,” he said.
Also commenting on the upcoming budget statement, Dr. J.K. Obeng, President of GUTA, said his association is hoping that procurement processes will be simplified.
“We want pragmatic steps to be taken so that the duty rates will be reduced. We want procurement to be so simplified as well. Ghana as a nation has not done badly in terms of exports and the cash accrued therein. About 70% of countries are import based and are doing very well. The management is what matters,” he noted on the Morning Starr.
For their part, the association of Import and Exporters says government should engage them before taking decisions that affect them.
“Honestly speaking, the cost of doing business in this country is very very expensive. It is important that government engages us before taking some decisions. Taking decisions on our behalf all the time is not the best way to go”.
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